Kirkland Lake Gold takes spot on the S&P/TSX away from oilsands company
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The S&P/TSX 60 Index is a portfolio of large-cap businesses in the Canadian equity market.
Kirkland Lake has been flying high. In its Q2 the company announced net earnings of $104.2 million, a 69% increase from a year ago. The company's stock is up 165% over the past year.
Husky Energy, on the other hand, has been laboring. Production woes and falling oil prices have cost the company 80% of its value since the company peaked in 2008.