Zacks: Kirkland Lake Gold Ltd. (KL) Given Consensus Rating of “Buy” by Brokerages

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.

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Kirkland Lake Gold (KL) traded down $0.17 during trading hours on Friday, hitting $13.95. The stock had a trading volume of 632,500 shares, compared to its average volume of 230,550. The company has a current ratio of 1.59, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2,930.00 and a PE ratio of 24.34. Kirkland Lake Gold has a twelve month low of $4.74 and a twelve month high of $15.19.

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.

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