Kirkland Lake Gold’s (KL) Buy Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of Kirkland Lake Gold (TSE:KL) in a research note released on Thursday, June 6th, BayStreet.CA reports. Canaccord Genuity currently has a C$60.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. National Bank Financial dropped their target price on shares of Kirkland Lake Gold from C$58.00 to C$57.00 and set an outperform rating on the stock in a report on Thursday, April 18th. TD Securities lifted their target price on shares of Kirkland Lake Gold from C$53.00 to C$55.00 and gave the stock a hold rating in a report on Thursday, May 9th. Eight Capital upgraded shares of Kirkland Lake Gold from a neutral rating to a buy rating and lifted their target price for the stock from C$51.25 to C$53.00 in a report on Monday, April 15th. BMO Capital Markets reiterated a market perform rating and issued a C$50.00 target price on shares of Kirkland Lake Gold in a report on Tuesday, April 9th. Finally, CIBC lifted their target price on shares of Kirkland Lake Gold from C$48.00 to C$53.00 in a report on Friday, February 22nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Kirkland Lake Gold has a consensus rating of Buy and an average target price of C$52.42.

Shares of Kirkland Lake Gold stock traded up C$0.68 during midday trading on Thursday, reaching C$56.42. 1,079,800 shares of the company’s stock traded hands, compared to its average volume of 1,077,671. The stock has a market capitalization of $11.85 billion and a P/E ratio of 35.71. The firm has a 50 day moving average of C$48.87. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.86 and a current ratio of 2.08. Kirkland Lake Gold has a 52 week low of C$22.42 and a 52 week high of C$57.99.

Kirkland Lake Gold (TSE:KL) last released its quarterly earnings results on Tuesday, May 7th. The company reported C$0.70 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.01. The business had revenue of C$405.40 million for the quarter, compared to the consensus estimate of C$385.90 million. As a group, research analysts expect that Kirkland Lake Gold will post 2.2699999 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.16 annualized dividend and a yield of 0.28%. Kirkland Lake Gold’s dividend payout ratio is 6.67%.

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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