Kirkland Lake Gold (KL) Rating Increased to Buy at Desjardins
Kirkland Lake Gold (TSE:KL) was upgraded by stock analysts at Desjardins from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a C$24.00 target price on the stock, up from their previous target price of C$20.00. Desjardins’ price objective would indicate a potential upside of 27.86% from the stock’s current price. Desjardins also issued estimates for Kirkland Lake Gold’s FY2018 earnings at $1.50 EPS, FY2019 earnings at $1.70 EPS and FY2020 earnings at $1.71 EPS.
Several other equities research analysts have also recently commented on the company. Royal Bank Of Canada lifted their target price on Kirkland Lake Gold from C$16.00 to C$21.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Scotiabank reissued an “outperform” rating and issued a C$19.00 target price on shares of Kirkland Lake Gold in a research note on Thursday, November 9th. CIBC lifted their target price on Kirkland Lake Gold from C$16.00 to C$19.00 in a research note on Friday, October 13th. BMO Capital Markets lifted their target price on Kirkland Lake Gold from C$16.75 to C$20.50 in a research note on Monday, October 2nd. Finally, National Bank Financial reissued an “outperform” rating and issued a C$19.00 target price on shares of Kirkland Lake Gold in a research note on Saturday, September 23rd. Six analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of C$20.42.
Shares of Kirkland Lake Gold (TSE KL) opened at C$18.77 on Monday. Kirkland Lake Gold has a 52 week low of C$6.33 and a 52 week high of C$19.06.
In related news, Director Eric S. Sprott purchased 200,000 shares of Kirkland Lake Gold stock in a transaction dated Monday, September 18th. The shares were acquired at an average cost of C$15.72 per share, for a total transaction of C$3,144,000.00.
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