Kirkland Lake Gold Ltd. (NYSE:KL) has earned a consensus broker rating score of 2.33 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. Kirkland Lake Gold’s rating score has declined by 16.5% in the last three months as a result of various analysts’ ratings changes.
Brokers have set a 12-month consensus price objective of $16.91 for the company, according to Zacks. Zacks has also given Kirkland Lake Gold an industry rank of 165 out of 265 based on the ratings given to related companies.
A number of brokerages have recently commented on KL. Scotiabank raised shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, November 2nd. Zacks Investment Research downgraded shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Thursday, November 9th. Desjardins downgraded shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Royal Bank Of Canada reissued an “outperform” rating on shares of Kirkland Lake Gold in a report on Thursday, September 7th. Finally, National Bank Financial restated an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st.
ILLEGAL ACTIVITY NOTICE: “Zacks: Kirkland Lake Gold Ltd. (KL) Given Consensus Rating of “Buy” by Brokerages” was originally reported by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2017/11/21/zacks-kirkland-lake-gold-ltd-kl-given-consensus-rating-of-buy-by-brokerages.html.
A number of hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA acquired a new stake in shares of Kirkland Lake Gold in the third quarter worth approximately $158,000. Cubist Systematic Strategies LLC purchased a new stake in Kirkland Lake Gold during the 3rd quarter worth about $199,000. Schroder Investment Management Group acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth about $231,000. Legal & General Group Plc acquired a new stake in Kirkland Lake Gold during the 3rd quarter worth approximately $360,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Kirkland Lake Gold during the 3rd quarter worth approximately $361,000. Institutional investors and hedge funds own 21.65% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kirkland Lake Gold Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirkland Lake Gold Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.