Royal Bank of Canada Boosts Kirkland Lake Gold (KL) Price Target to C$23.00

Kirkland Lake Gold (TSE:KL) had its target price boosted by analysts at Royal Bank of Canada from C$22.00 to C$23.00 in a research report issued on Friday. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 15.17% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Scotiabank lowered Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from C$17.00 to C$17.50 in a research note on Thursday, October 12th. BMO Capital Markets raised their price target on Kirkland Lake Gold from C$16.75 to C$20.50 in a research note on Monday, October 2nd. CIBC raised their price objective on Kirkland Lake Gold from C$16.00 to C$19.00 in a report on Friday, October 13th. Desjardins downgraded Kirkland Lake Gold from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$19.00 to C$20.00 in a report on Thursday, October 12th. Finally, National Bank Financial restated an “outperform” rating and set a C$19.00 price objective on shares of Kirkland Lake Gold in a report on Saturday, September 23rd. Seven research analysts have rated the stock with a buy rating, Kirkland Lake Gold currently has a consensus rating of “Buy” and a consensus price target of C$23.50.

Shares of Kirkland Lake Gold (TSE:KL) traded down C$0.77 during mid-day trading on Friday, hitting C$19.97. The company had a trading volume of 1,012,610 shares, compared to its average volume of 755,034. Kirkland Lake Gold has a 52-week low of C$8.16 and a 52-week high of C$20.97. The company has a market cap of $4,140.00 and a price-to-earnings ratio of 44.38.

Kirkland Lake Gold (TSE:KL) last issued its quarterly earnings results on Thursday, November 2nd. The company reported C$0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.27 by C($0.09).

In other news, insider Philip Chow Yee acquired 6,000 shares of Kirkland Lake Gold stock in a transaction on Monday, December 11th. The shares were bought at an average cost of C$17.02 per share, for a total transaction of C$102,120.00.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/19/royal-bank-of-canada-boosts-kirkland-lake-gold-kl-price-target-to-c23-00.html.

Analyst Recommendations for Kirkland Lake Gold (TSE:KL)

Receive News & Ratings for Kirkland Lake Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirkland Lake Gold and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply