Kirkland Lake Gold (TSE:KL) had its target price lowered by equities researchers at Canaccord Genuity from C$70.00 to C$67.00 in a research note issued on Wednesday, BayStreet.CA reports. Canaccord Genuity’s price target would indicate a potential upside of 6.98% from the company’s previous close.
Several other brokerages have also recently commented on KL. Roth Capital cut shares of Kirkland Lake Gold from a “buy” rating to a “neutral” rating in a research report on Thursday, October 10th. Eight Capital upped their price target on shares of Kirkland Lake Gold from C$53.00 to C$70.00 in a research report on Thursday, August 8th. BMO Capital Markets upped their price target on shares of Kirkland Lake Gold from C$60.00 to C$71.00 in a research report on Wednesday, September 11th. Desjardins upped their price target on shares of Kirkland Lake Gold from C$48.00 to C$54.50 in a research report on Wednesday, July 17th. Finally, Pi Financial upped their price target on shares of Kirkland Lake Gold from C$46.75 to C$55.75 in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Kirkland Lake Gold has an average rating of “Hold” and an average target price of C$65.47.
KL stock traded up C$1.88 during midday trading on Wednesday, reaching C$62.63. The company’s stock had a trading volume of 608,955 shares, compared to its average volume of 1,042,068. Kirkland Lake Gold has a 52 week low of C$23.98 and a 52 week high of C$67.87. The stock has a market cap of $13.19 billion and a PE ratio of 35.25. The company has a quick ratio of 1.85, a current ratio of 2.03 and a debt-to-equity ratio of 1.30. The business’s 50-day simple moving average is C$60.33 and its 200-day simple moving average is C$56.01.
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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