Kirkland Lake Gold Ltd (KL) Given New C$16.00 Price Target at Royal Bank Of Canada
Kirkland Lake Gold Ltd (TSE:KL) had its target price lifted by research analysts at Royal Bank Of Canada from C$14.00 to C$16.00 in a research report issued on Tuesday. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 25.39% from the company’s current price.
A number of other research firms have also issued reports on KL. Scotiabank increased their target price on shares of Kirkland Lake Gold from C$13.00 to C$16.50 and gave the stock an “outperform” rating in a report on Friday, July 28th. BMO Capital Markets set a C$15.25 target price on shares of Kirkland Lake Gold and gave the stock an “outperform” rating in a report on Friday, June 30th. CIBC increased their target price on shares of Kirkland Lake Gold from C$12.50 to C$14.50 in a report on Tuesday, July 11th. Finally, National Bank Financial increased their target price on shares of Kirkland Lake Gold from C$15.00 to C$15.35 in a report on Friday, July 14th. Four equities research analysts have rated the stock with a buy rating, Kirkland Lake Gold presently has a consensus rating of “Buy” and a consensus target price of C$15.52.
Shares of Kirkland Lake Gold (TSE:KL) traded up 1.57% during trading on Tuesday, reaching $12.96. 699,401 shares of the company traded hands. The company has a market capitalization of $2.71 billion and a price-to-earnings ratio of 41.94. The firm’s 50 day moving average price is $11.73 and its 200-day moving average price is $10.25. Kirkland Lake Gold has a 52 week low of $6.33 and a 52 week high of $13.18.
In other news, Director Eric S. Sprott acquired 193,500 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were bought at an average cost of C$10.16 per share, with a total value of C$1,965,960.00. Also, Director Eric S. Sprott acquired 920,000 shares of the company’s stock in a transaction on Tuesday, July 4th. The stock was purchased at an average cost of C$11.98 per share, for a total transaction of C$11,021,600.00. Over the last three months, insiders acquired 2,220,000 shares of company stock worth $24,081,625.
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