Kirkland Lake Gold (KL) Lowered to Hold at Desjardins

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Desjardins downgraded shares of Kirkland Lake Gold (TSE:KL) from a buy rating to a hold rating in a research note issued to investors on Monday. Desjardins also issued estimates for Kirkland Lake Gold’s Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $1.61 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.53 EPS, FY2019 earnings at $2.19 EPS, Q1 2020 earnings at $0.65 EPS, Q2 2020 earnings at $0.68 EPS, Q3 2020 earnings at $0.69 EPS, Q4 2020 earnings at $0.69 EPS and FY2020 earnings at $2.71 EPS.

A number of other research firms also recently issued reports on KL. Roth Capital reiterated a buy rating on shares of Kirkland Lake Gold in a research report on Thursday, January 3rd. Royal Bank of Canada boosted their target price on shares of Kirkland Lake Gold from C$33.00 to C$38.00 and gave the company an outperform rating in a research report on Wednesday, December 19th. Eight Capital boosted their target price on shares of Kirkland Lake Gold from C$33.25 to C$42.50 in a research report on Monday. TD Securities boosted their target price on shares of Kirkland Lake Gold from C$37.00 to C$43.00 and gave the company a buy rating in a research report on Wednesday, December 12th. Finally, BMO Capital Markets boosted their target price on shares of Kirkland Lake Gold from C$30.00 to C$32.50 in a research report on Wednesday, December 12th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Kirkland Lake Gold presently has an average rating of Buy and an average target price of C$37.31.

Shares of TSE KL opened at C$35.26 on Monday. Kirkland Lake Gold has a 52-week low of C$16.54 and a 52-week high of C$36.12. The company has a quick ratio of 1.68, a current ratio of 2.00 and a debt-to-equity ratio of 2.23.

Kirkland Lake Gold (TSE:KL) last issued its quarterly earnings results on Tuesday, October 30th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.40 by C($0.03). The firm had revenue of C$291.05 million for the quarter. As a group, analysts anticipate that Kirkland Lake Gold will post 1.40000001626961 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, January 11th will be issued a $0.04 dividend. This is an increase from Kirkland Lake Gold’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, December 28th. Kirkland Lake Gold’s payout ratio is 7.83%.

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 (TSE:KL)

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