Kirkland Lake Gold Ltd. (KL) Given $16.82 Consensus Price Target by Brokerages
Kirkland Lake Gold Ltd. (NYSE:KL) has earned a consensus broker rating score of 2.25 (Buy) from the four analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. Kirkland Lake Gold’s rating score has declined by 12.5% in the last three months as a result of a number of analysts’ ratings changes.
Brokers have set a one year consensus price objective of $16.82 for the company, according to Zacks. Zacks has also assigned Kirkland Lake Gold an industry rank of 110 out of 265 based on the ratings given to its competitors.
KL has been the topic of a number of research reports. Scotiabank raised shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Zacks Investment Research raised shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, September 20th. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Kirkland Lake Gold in a research note on Thursday, September 21st. Desjardins initiated coverage on shares of Kirkland Lake Gold in a research note on Friday, September 29th. They set a “buy” rating on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Kirkland Lake Gold in a research note on Thursday, September 7th.
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Kirkland Lake Gold (NYSE:KL) traded up $0.76 during trading hours on Friday, reaching $13.16. The company’s stock had a trading volume of 369,280 shares, compared to its average volume of 856,292. The stock has a market cap of $2.77 billion and a PE ratio of 22.88.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a dividend of $0.008 per share. This represents a $0.03 annualized dividend and a yield of 0.24%. The ex-dividend date was Thursday, September 28th. Kirkland Lake Gold’s payout ratio is currently 6.82%.
A number of large investors have recently bought and sold shares of the stock. American Century Companies Inc. bought a new stake in Kirkland Lake Gold during the third quarter worth about $11,880,000. Canada Pension Plan Investment Board bought a new position in shares of Kirkland Lake Gold in the third quarter worth approximately $4,633,000. APG Asset Management N.V. bought a new position in shares of Kirkland Lake Gold in the third quarter worth approximately $1,871,000. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Kirkland Lake Gold in the third quarter worth approximately $158,000. 0.88% of the stock is currently owned by institutional investors and hedge funds.
About Kirkland Lake Gold
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates five underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria and the Cosmo Mine in Northern Territory, Australia, as well as four milling facilities in Canada and Australia.
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