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.

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