Kirkland Lake Gold (NYSE:KL) Earns “Buy” Rating from Canaccord Genuity


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Kirkland Lake Gold (NYSE:KL)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity in a research note issued to investors on Monday, AnalystRatings.com reports.

KL has been the topic of several other reports. National Bank Financial cut shares of Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, March 17th. CIBC decreased their target price on shares of Kirkland Lake Gold from $95.50 to $77.50 and set an “outperform” rating on the stock in a research report on Monday, February 8th. Royal Bank of Canada decreased their target price on shares of Kirkland Lake Gold from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, December 14th. Scotiabank cut their price target on shares of Kirkland Lake Gold from $68.00 to $61.00 and set an “outperform” rating on the stock in a report on Tuesday, April 6th. Finally, Zacks Investment Research downgraded shares of Kirkland Lake Gold from a “hold” rating to a “strong sell” rating and set a $30.00 price target on the stock. in a report on Tuesday, April 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. Kirkland Lake Gold has a consensus rating of “Buy” and an average price target of $65.56.

Shares of KL stock opened at $36.87 on Monday. The company’s fifty day simple moving average is $34.41 and its two-hundred day simple moving average is $40.96. The stock has a market cap of $9.85 billion, a P/E ratio of 12.98, a PEG ratio of 3.52 and a beta of 0.72. Kirkland Lake Gold has a 52 week low of $31.72 and a 52 week high of $57.69.

Kirkland Lake Gold (NYSE:KL) last announced its earnings results on Thursday, February 25th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.02). The business had revenue of $691.55 million for the quarter, compared to analysts’ expectations of $695.95 million. Kirkland Lake Gold had a net margin of 33.21% and a return on equity of 21.03%. On average, research analysts forecast that Kirkland Lake Gold will post 3.35 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Van ECK Associates Corp grew its stake in Kirkland Lake Gold by 9.4% in the 4th quarter. Van ECK Associates Corp now owns 21,162,751 shares of the company’s stock worth $874,568,000 after acquiring an additional 1,822,072 shares in the last quarter. Norges Bank bought a new position in Kirkland Lake Gold in the 4th quarter worth about $118,895,000. Flossbach Von Storch AG grew its stake in Kirkland Lake Gold by 239.2% in the 4th quarter. Flossbach Von Storch AG now owns 2,611,512 shares of the company’s stock worth $107,777,000 after acquiring an additional 1,841,512 shares in the last quarter. AGF Investments Inc. grew its stake in Kirkland Lake Gold by 145.3% in the 4th quarter. AGF Investments Inc. now owns 1,496,399 shares of the company’s stock worth $61,836,000 after acquiring an additional 886,432 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in Kirkland Lake Gold by 0.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,471,753 shares of the company’s stock worth $60,765,000 after acquiring an additional 11,712 shares in the last quarter. Institutional investors and hedge funds own 50.56% of the company’s stock.

About Kirkland Lake Gold

Kirkland Lake Gold Ltd. engages in the mining, development, and exploration of gold properties. The firms projects include Holt Mine, Macassa Mine, and Detour Lake MIne. The company was founded on July 10, 2015 and is headquartered in Toronto, Canada.

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Analyst Recommendations for Kirkland Lake Gold (NYSE:KL)

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