Kirkland Lake Gold (NYSE:KL)‘s stock had its “average” rating reissued by research analysts at BMO Capital Markets in a note issued to investors on Wednesday. They presently have a $35.00 price objective on the stock. BMO Capital Markets’ price target indicates a potential upside of 31.58% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Scotiabank reiterated a “buy” rating and set a $35.00 price objective on shares of Kirkland Lake Gold in a report on Wednesday, December 12th. Roth Capital initiated coverage on shares of Kirkland Lake Gold in a report on Thursday, January 3rd. They set a “buy” rating and a $31.00 price objective on the stock. TD Securities reiterated a “buy” rating on shares of Kirkland Lake Gold in a report on Tuesday. Finally, Desjardins lowered shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Monday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $32.00.

KL stock traded down $0.05 during midday trading on Wednesday, hitting $26.60. The stock had a trading volume of 10,490 shares, compared to its average volume of 1,085,449. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 37.74 and a beta of -1.03. The company has a quick ratio of 1.77, a current ratio of 2.00 and a debt-to-equity ratio of 0.01. Kirkland Lake Gold has a 1-year low of $13.09 and a 1-year high of $26.88.

Kirkland Lake Gold (NYSE:KL) last released its earnings results on Tuesday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.03). The firm had revenue of $222.70 million during the quarter. Kirkland Lake Gold had a net margin of 25.02% and a return on equity of 20.81%. Research analysts expect that Kirkland Lake Gold will post 1.23 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in KL. SG Americas Securities LLC bought a new stake in shares of Kirkland Lake Gold during the second quarter worth about $132,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Kirkland Lake Gold during the third quarter worth about $224,000. Paloma Partners Management Co bought a new stake in shares of Kirkland Lake Gold during the third quarter worth about $226,000. IFG Advisory LLC bought a new stake in shares of Kirkland Lake Gold during the third quarter worth about $240,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Kirkland Lake Gold during the third quarter worth about $249,000. Hedge funds and other institutional investors own 40.45% of the company’s stock.

About Kirkland Lake Gold

Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria, Australia, as well as three milling facilities in Canada and Australia.

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Analyst Recommendations for Kirkland Lake Gold (NYSE:KL)

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