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Kirkland Lake Gold takes spot on the S&P/TSX away from oilsands company

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(Kitco News) - S&P announced last week that Kirkland Lake Gold (TSX:KL) would be added to the S&P/TSX 60 Index while Husky Energy would be removed.

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.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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