RE:RE:logic might say a rallying dollar and an overbought KLYes this is a cut and paste from the
Globe & Mail article. Everyone on here has read this already. Ker is dumba*s who is covering his a*s to get in cheap.
Obviously PI completely missed the rally.
As for your short in October, where exactly did you make money?
Did you collect on 2 quarters? Hope you covered before Q4 earnings were released last fall.
Have you also not checked the revised recommendations by National Bank, Scotia, CIBC, etc.?
The top tiers vs. PI Financial.
Average price target is now close to $ 29 CAD.
Best of luck to you. Yes maybe you'll earn 50 cents to a buck on your short if some profit taking...but this is definitely a LONG play. When he hit $ 35, then yes I'll agree pricey.
Where exactly is the "brick wall" they will run into with over $ 300 M in the bank, zero debt, and only $ 40 M - $ 60 M in CAPEX being spent in 2018? Q1 Net Earnings were already $ 50 M.
Go re-read your #s and the cost guidance on the Q1 Earnings slides.
JIN
prouditalian wrote: On Wednesday, PI Financial Corp. analyst Phil Ker cut his rating to neutral from buy, on fears that hefty capital expenditure requirements at the intermediate mining company over the next few years could hinder free cash flow.Toronto-based Kirkland Lake has stood out among its peers specifically because of its strong and consistent free cash flow, with the stock roughly tripling in value over the past two years.While it is well capitalized and holds a healthy $275-million in cash, with little or no debt, eventually things will come to a head, Mr. Ker predicts.
“At some point here, the free cash flow is going to hit a wall,” he said in an interview.