Kirkland Lake Gold Ltd (NYSE:KL) Receives Consensus Rating of “Hold” from Analysts

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Kirkland Lake Gold Ltd (NYSE:KL) has earned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $50.42.

Several research analysts recently commented on KL shares. ValuEngine lowered Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated a “buy” rating on shares of Kirkland Lake Gold in a research report on Wednesday, June 26th. Desjardins reiterated an “average” rating and issued a $54.50 price target on shares of Kirkland Lake Gold in a research report on Wednesday, July 17th. National Bank Financial lowered Kirkland Lake Gold from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Monday, May 27th. Finally, Roth Capital set a $48.00 price target on Kirkland Lake Gold and gave the stock a “buy” rating in a research report on Thursday, July 11th.

KL opened at $47.32 on Tuesday. The firm has a market cap of $9.56 billion, a P/E ratio of 24.86 and a beta of -0.03. Kirkland Lake Gold has a 12 month low of $17.26 and a 12 month high of $49.13. The stock has a 50-day moving average of $44.79 and a 200 day moving average of $37.13.

Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The company had revenue of $281.27 million during the quarter, compared to analyst estimates of $273.55 million. Kirkland Lake Gold had a return on equity of 29.11% and a net margin of 34.59%. Analysts predict that Kirkland Lake Gold will post 2.22 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Kirkland Lake Gold by 4.6% during the 4th quarter. BlackRock Inc. now owns 98,181 shares of the company’s stock worth $2,562,000 after buying an additional 4,309 shares during the last quarter. Geode Capital Management LLC raised its position in Kirkland Lake Gold by 455.1% in the fourth quarter. Geode Capital Management LLC now owns 74,283 shares of the company’s stock valued at $1,936,000 after purchasing an additional 60,900 shares during the last quarter. Legal & General Group Plc raised its position in Kirkland Lake Gold by 37.9% in the fourth quarter. Legal & General Group Plc now owns 55,333 shares of the company’s stock valued at $1,442,000 after purchasing an additional 15,211 shares during the last quarter. Virtu Financial LLC bought a new position in Kirkland Lake Gold in the first quarter valued at about $443,000. Finally, BNP Paribas Arbitrage SA raised its position in Kirkland Lake Gold by 42.7% in the first quarter. BNP Paribas Arbitrage SA now owns 17,482 shares of the company’s stock valued at $532,000 after purchasing an additional 5,232 shares during the last quarter. 50.01% of the stock is owned by institutional investors and hedge funds.

Kirkland Lake Gold Company Profile

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located 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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