Kirkland Lake Gold (KL) Shares Up 8.7%

Kirkland Lake Gold Ltd. (NYSE:KL) shot up 8.7% during trading on Wednesday . The company traded as high as $15.16 and last traded at $15.04. 1,155,791 shares were traded during trading, an increase of 50% from the average session volume of 771,713 shares. The stock had previously closed at $13.83.

A number of research firms recently commented on KL. Zacks Investment Research lowered shares of Kirkland Lake Gold from a “buy” rating to a “sell” rating in a report on Tuesday, January 16th. Desjardins upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Finally, Scotiabank upgraded shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.00.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.59. The stock has a market capitalization of $2,833.16 and a price-to-earnings ratio of 34.18.

Large investors have recently bought and sold shares of the stock. APG Asset Management N.V. bought a new position in Kirkland Lake Gold in the 3rd quarter worth $1,871,000. Canada Pension Plan Investment Board bought a new position in Kirkland Lake Gold in the 3rd quarter worth $4,633,000. American Century Companies Inc. bought a new position in Kirkland Lake Gold in the 3rd quarter worth $11,880,000. BNP Paribas Arbitrage SA bought a new position in Kirkland Lake Gold in the 3rd quarter worth $158,000. Finally, CIBC Asset Management Inc bought a new position in Kirkland Lake Gold in the 3rd quarter worth $9,870,000. Institutional investors own 42.83% of the company’s stock.

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About Kirkland Lake Gold

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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