FY2017 Earnings Forecast for Kirkland Lake Gold Ltd (KL) Issued By Desjardins
Kirkland Lake Gold Ltd (TSE:KL) – Equities research analysts at Desjardins increased their FY2017 earnings estimates for Kirkland Lake Gold in a research report issued to clients and investors on Thursday. Desjardins analyst R. Ray now expects that the company will earn $0.88 per share for the year, up from their prior forecast of $0.86. Desjardins has a “Hold” rating and a $20.00 price objective on the stock. Desjardins also issued estimates for Kirkland Lake Gold’s FY2018 earnings at $1.24 EPS, FY2019 earnings at $1.43 EPS, FY2020 earnings at $1.46 EPS and FY2021 earnings at $1.23 EPS.
Several other brokerages have also weighed in on KL. BMO Capital Markets boosted their price objective on Kirkland Lake Gold from C$16.75 to C$20.50 in a report on Monday, October 2nd. Scotiabank lowered Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$17.00 to C$17.50 in a report on Thursday. CIBC boosted their price objective on Kirkland Lake Gold from C$12.50 to C$14.50 in a report on Tuesday, July 11th. Royal Bank Of Canada boosted their price objective on Kirkland Lake Gold from C$14.00 to C$16.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Finally, National Bank Financial boosted their price objective on Kirkland Lake Gold from C$15.00 to C$15.35 in a report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of C$17.92.
Kirkland Lake Gold (TSE KL) opened at 16.85 on Friday. The stock has a market cap of $3.52 billion and a P/E ratio of 41.50. Kirkland Lake Gold has a 12-month low of $3.60 and a 12-month high of $18.57. The stock has a 50 day moving average price of $16.20 and a 200-day moving average price of $12.35.
In other news, Director Raymond Wesley Threlkeld sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of C$13.29, for a total transaction of C$119,610.00. Also, insider Christina Sylvia Je Ouellette bought 2,200 shares of the stock in a transaction dated Monday, August 14th. The shares were bought at an average cost of C$13.28 per share, with a total value of C$29,216.00. Over the last three months, insiders purchased 1,205,650 shares of company stock valued at $16,730,856.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, September 28th.
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