Kirkland Lake Gold (NYSE:KL) Upgraded to Hold by ValuEngine

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Kirkland Lake Gold (NYSE:KL) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, ValuEngine reports.

Several other research firms have also recently weighed in on KL. Stifel Nicolaus started coverage on shares of Kirkland Lake Gold in a report on Tuesday, February 11th. They issued a “hold” rating on the stock. National Bank Financial reaffirmed a “sector perform spec under wgt” rating on shares of Kirkland Lake Gold in a report on Friday, January 31st. CIBC reaffirmed a “hold” rating on shares of Kirkland Lake Gold in a report on Friday. Zacks Investment Research raised shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Saturday, February 15th. Finally, Roth Capital decreased their price target on shares of Kirkland Lake Gold from to in a report on Friday. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $54.17.

Shares of Kirkland Lake Gold stock traded up $1.69 during trading on Friday, hitting $36.48. The stock had a trading volume of 3,769,561 shares, compared to its average volume of 1,859,562. Kirkland Lake Gold has a 12 month low of $29.15 and a 12 month high of $51.08. The business’s 50-day moving average is $40.84 and its 200 day moving average is $44.09.

Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $412.38 million during the quarter, compared to the consensus estimate of $414.47 million. Kirkland Lake Gold had a return on equity of 35.18% and a net margin of 39.86%. Sell-side analysts predict that Kirkland Lake Gold will post 2.75 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. SeaCrest Wealth Management LLC grew its position in Kirkland Lake Gold by 3.1% in the fourth quarter. SeaCrest Wealth Management LLC now owns 9,892 shares of the company’s stock worth $436,000 after acquiring an additional 300 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Kirkland Lake Gold by 8.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 5,600 shares of the company’s stock worth $247,000 after acquiring an additional 425 shares in the last quarter. Advisors Asset Management Inc. grew its position in Kirkland Lake Gold by 70.0% in the fourth quarter. Advisors Asset Management Inc. now owns 1,141 shares of the company’s stock worth $50,000 after acquiring an additional 470 shares in the last quarter. Bradley Foster & Sargent Inc. CT grew its position in Kirkland Lake Gold by 10.8% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,790 shares of the company’s stock worth $255,000 after acquiring an additional 565 shares in the last quarter. Finally, Optimum Investment Advisors grew its position in Kirkland Lake Gold by 31.6% in the fourth quarter. Optimum Investment Advisors now owns 2,500 shares of the company’s stock worth $110,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 51.84% of the company’s stock.

About Kirkland Lake Gold

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.

Read More: Dividend Reinvestment Plan (DRIP)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Kirkland Lake Gold (NYSE:KL)

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