Zacks: Kirkland Lake Gold Ltd. (KL) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Kirkland Lake Gold Ltd. (NYSE:KL) have been given an average broker rating score of 2.25 (Buy) from the four brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Kirkland Lake Gold’s rating score has declined by 12.5% in the last three months as a result of various analysts’ ratings changes.
Analysts have set a 12-month consensus price target of $16.82 for the company, according to Zacks. Zacks has also assigned Kirkland Lake Gold an industry rank of 107 out of 265 based on the ratings given to related companies.
KL has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of Kirkland Lake Gold in a report on Thursday, September 7th. Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, September 20th. National Bank Financial restated an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st. Desjardins started coverage on shares of Kirkland Lake Gold in a report on Friday, September 29th. They issued a “buy” rating for the company. Finally, Scotiabank upgraded shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research note on Thursday.
Kirkland Lake Gold (NYSE:KL) opened at $13.16 on Friday. Kirkland Lake Gold has a 1-year low of $4.74 and a 1-year high of $15.19. The stock has a market cap of $2,731.45 and a P/E ratio of 22.69. The company has a current ratio of 1.59, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.008 per share. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Thursday, September 28th. Kirkland Lake Gold’s payout ratio is 6.82%.
Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. bought a new stake in shares of Kirkland Lake Gold during the 3rd quarter valued at $11,880,000. Canada Pension Plan Investment Board bought a new stake in shares of Kirkland Lake Gold during the 3rd quarter valued at $4,633,000. APG Asset Management N.V. bought a new stake in shares of Kirkland Lake Gold during the 3rd quarter valued at $1,871,000. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Kirkland Lake Gold during the 3rd quarter valued at $158,000. 1.05% of the stock is owned by hedge funds and other institutional investors.
Kirkland Lake Gold Company Profile
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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