Kirkland Lake Gold Ltd (KL) Upgraded to “Outperform” by Scotiabank
Kirkland Lake Gold Ltd (TSE:KL) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued on Friday. The brokerage currently has a C$19.00 price objective on the stock, up from their previous price objective of C$17.50. Scotiabank’s target price points to a potential upside of 12.23% from the company’s current price.
Several other brokerages have also recently issued reports on KL. National Bank Financial raised their target price on shares of Kirkland Lake Gold from C$15.00 to C$15.35 in a report on Friday, July 14th. BMO Capital Markets raised their target price on shares of Kirkland Lake Gold from C$16.75 to C$20.50 in a report on Monday, October 2nd. CIBC raised their target price on shares of Kirkland Lake Gold from C$16.00 to C$19.00 in a report on Friday, October 13th. Desjardins lowered Kirkland Lake Gold from a “buy” rating to a “hold” rating and raised their price objective for the company from C$19.00 to C$20.00 in a research report on Thursday, October 12th. Finally, Royal Bank Of Canada raised their price objective on Kirkland Lake Gold from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$18.92.
Kirkland Lake Gold (TSE KL) traded up C$1.80 during midday trading on Friday, reaching C$16.93. 37,132 shares of the company’s stock traded hands.
In related news, Director Eric S. Sprott purchased 200,000 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were bought at an average price of C$15.72 per share, for a total transaction of C$3,144,000.00. Also, Director Brian John Hagan purchased 3,450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of C$14.91 per share, for a total transaction of C$51,439.50. Over the last three months, insiders purchased 1,205,870 shares of company stock worth $16,734,888.
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