Analysts Set Kirkland Lake Gold Ltd (NYSE:KL) PT at $46.25

Kirkland Lake Gold Ltd (NYSE:KL) has received a consensus rating of “Buy” from the fourteen analysts that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $46.25.

KL has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on shares of Kirkland Lake Gold in a research note on Tuesday, February 11th. They issued a “hold” rating for the company. CIBC upgraded shares of Kirkland Lake Gold from a “neutral” rating to a “sector outperform” rating in a research note on Wednesday, March 18th. Canaccord Genuity upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, March 24th. National Bank Financial upgraded shares of Kirkland Lake Gold from a “sector perform spec under wgt” rating to an “outperform spec under weight” rating in a research note on Sunday, March 15th. Finally, Royal Bank of Canada decreased their price target on shares of Kirkland Lake Gold from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd.

Shares of NYSE KL traded up $1.60 during midday trading on Wednesday, hitting $34.60. The company’s stock had a trading volume of 2,934,951 shares, compared to its average volume of 2,410,652. The business’s fifty day simple moving average is $32.10 and its two-hundred day simple moving average is $40.92. Kirkland Lake Gold has a 1 year low of $18.02 and a 1 year high of $51.08. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 13.11 and a beta of 0.45.

Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.01). Kirkland Lake Gold had a net margin of 40.59% and a return on equity of 36.90%. The business had revenue of $412.38 million during the quarter, compared to analysts’ expectations of $414.47 million. As a group, equities analysts forecast that Kirkland Lake Gold will post 3.56 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC acquired a new position in shares of Kirkland Lake Gold in the 4th quarter valued at $36,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Kirkland Lake Gold by 73.0% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 181,500 shares of the company’s stock valued at $7,992,000 after buying an additional 76,584 shares during the period. Franklin Resources Inc. increased its stake in Kirkland Lake Gold by 8.3% in the 4th quarter. Franklin Resources Inc. now owns 205,892 shares of the company’s stock valued at $9,077,000 after buying an additional 15,733 shares during the period. Norges Bank acquired a new position in Kirkland Lake Gold in the 4th quarter valued at $115,208,000. Finally, Total Clarity Wealth Management Inc. acquired a new position in Kirkland Lake Gold in the 4th quarter valued at $173,000. 56.11% of the stock is currently owned by institutional investors and hedge funds.

About Kirkland Lake Gold

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located in Victoria, Australia, as well as three milling facilities in Canada and Australia.

Read More: What is dollar cost averaging (DCA)?

Analyst Recommendations for Kirkland Lake Gold (NYSE:KL)

Receive News & Ratings for Kirkland Lake Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirkland Lake Gold and related companies with MarketBeat.com's FREE daily email newsletter.