Brokerages Set Kirkland Lake Gold Ltd (TSE:KL) Target Price at C$63.69

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Kirkland Lake Gold Ltd (TSE:KL) has been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$63.69.

KL has been the topic of a number of research reports. CIBC lifted their price target on shares of Kirkland Lake Gold from C$58.00 to C$64.00 in a research note on Monday, July 15th. Desjardins lifted their price target on shares of Kirkland Lake Gold from C$48.00 to C$54.50 in a research note on Wednesday, July 17th. Eight Capital lifted their price target on shares of Kirkland Lake Gold from C$53.00 to C$70.00 in a research note on Thursday, August 8th. Royal Bank of Canada lowered shares of Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$54.00 to C$72.00 in a research note on Thursday, September 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a C$60.00 price target on shares of Kirkland Lake Gold in a research note on Thursday, June 6th.

KL traded up C$0.87 during trading on Friday, reaching C$63.52. The company had a trading volume of 9,774,500 shares, compared to its average volume of 1,076,066. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.03 and a quick ratio of 1.85. Kirkland Lake Gold has a 12 month low of C$22.80 and a 12 month high of C$67.87. The business’s fifty day moving average price is C$61.43 and its 200 day moving average price is C$51.65. The company has a market cap of $13.35 billion and a P/E ratio of 35.69.

Kirkland Lake Gold (TSE:KL) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.64 by C$0.03. The company had revenue of C$376.25 million during the quarter, compared to the consensus estimate of C$358.12 million. As a group, sell-side analysts predict that Kirkland Lake Gold will post 2.6712728 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.053 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Kirkland Lake Gold’s previous quarterly dividend of $0.04. Kirkland Lake Gold’s payout ratio is currently 6.35%.

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 (TSE:KL)

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