Kirkland Lake Gold Ltd (KL) Downgraded by Scotiabank to “Sector Perform”
Kirkland Lake Gold Ltd (TSE:KL) was downgraded by research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report issued on Thursday. They currently have a C$17.50 price target on the stock, up from their prior price target of C$17.00. Scotiabank’s price target would indicate a potential upside of 3.86% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. Desjardins downgraded Kirkland Lake Gold from a “buy” rating to a “hold” rating and lifted their target price for the company from C$19.00 to C$20.00 in a research note on Thursday. CIBC lifted their target price on Kirkland Lake Gold from C$12.50 to C$14.50 in a research note on Tuesday, July 11th. National Bank Financial lifted their target price on Kirkland Lake Gold from C$15.00 to C$15.35 in a research note on Friday, July 14th. Royal Bank Of Canada lifted their target price on Kirkland Lake Gold from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Finally, BMO Capital Markets set a C$15.25 target price on Kirkland Lake Gold and gave the company an “outperform” rating in a research note on Friday, June 30th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of C$17.92.
Kirkland Lake Gold (KL) traded down 8.87% on Thursday, hitting $16.85. 3,231,467 shares of the stock traded hands. The stock has a 50-day moving average price of $16.20 and a 200 day moving average price of $12.35. The company has a market cap of $3.52 billion and a price-to-earnings ratio of 41.50. Kirkland Lake Gold has a 1-year low of $3.60 and a 1-year high of $18.57.
TRADEMARK VIOLATION WARNING: “Kirkland Lake Gold Ltd (KL) Downgraded by Scotiabank to “Sector Perform”” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of international copyright & trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/12/kirkland-lake-gold-ltd-kl-downgraded-by-scotiabank-to-sector-perform.html.
In other Kirkland Lake Gold news, Director Eric S. Sprott acquired 600,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of C$13.19 per share, for a total transaction of C$7,914,000.00. Also, Director Eric S. Sprott acquired 200,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were acquired at an average price of C$15.72 per share, with a total value of C$3,144,000.00. In the last quarter, insiders bought 1,205,650 shares of company stock valued at $16,730,856.
Receive News & Ratings for Kirkland Lake Gold Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirkland Lake Gold Ltd and related companies with MarketBeat.com's FREE daily email newsletter.