Zacks Investment Research upgraded shares of Kirkland Lake Gold (NYSE:KL) from a hold rating to a buy rating in a report issued on Friday morning. They currently have $37.00 target price on the stock.
According to Zacks, “Kirkland Lake Gold Ltd. engages in the provision of mining and mineral exploration. It focuses on gold assets primarily in Macassa Mine Complex, the Taylor Mine located in northeastern Ontario and the Fosterville Gold Mine located in the state of Victoria, Australia. Kirkland Lake Gold Ltd. is headquartered in Toronto, Canada. “
Several other brokerages have also issued reports on KL. ValuEngine upgraded shares of Kirkland Lake Gold from a hold rating to a buy rating in a research report on Monday, February 4th. Canaccord Genuity began coverage on shares of Kirkland Lake Gold in a research report on Tuesday, January 22nd. They issued a buy rating for the company. Eight Capital reiterated an average rating and issued a $45.00 target price on shares of Kirkland Lake Gold in a research report on Tuesday, January 15th. BMO Capital Markets reiterated an average rating and issued a $35.00 target price on shares of Kirkland Lake Gold in a research report on Wednesday, January 9th. Finally, TD Securities reiterated a buy rating on shares of Kirkland Lake Gold in a research report on Tuesday, January 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Kirkland Lake Gold has an average rating of Buy and an average price target of $36.60.
A number of hedge funds have recently added to or reduced their stakes in KL. IFP Advisors Inc bought a new position in Kirkland Lake Gold in the fourth quarter worth about $25,000. Highstreet Asset Management Inc. raised its stake in Kirkland Lake Gold by 12.6% in the fourth quarter. Highstreet Asset Management Inc. now owns 4,090 shares of the company’s stock worth $107,000 after buying an additional 457 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Kirkland Lake Gold in the third quarter worth about $224,000. Paloma Partners Management Co bought a new position in Kirkland Lake Gold in the third quarter worth about $226,000. Finally, D.A. Davidson & CO. bought a new position in Kirkland Lake Gold in the fourth quarter worth about $231,000. 40.62% of the stock is owned by institutional investors.
Kirkland Lake Gold Company Profile
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria, Australia, as well as three milling facilities in Canada and Australia.
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