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UPDATE: Kirkland Slightly Lower Even with Higher Q2 Profit

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Kirkland Lake Gold Inc. (KGI.TO), which was 5 cents above 50-day SMA $17.87 at yesterday's close, edged off by nearly 1% to $17.83 today from the $17.92 Wednesday close despite announcing a higher second quarter profit, helped by a rise in gold production and prices.

According to Reuters, the Ontario-based company's net and comprehensive income for the quarter was C$9.2 million, compared with $C8.5 million, a year ago. This was after revenue rose by a quarter to C$40.3 million. It reiterated its annual gold production target of 110,000 to 130,000 ounces.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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