Kirkland Lake Gold Ltd. (KL) Rating Increased to Outperform at Scotiabank

Kirkland Lake Gold Ltd. (NYSE:KL) was upgraded by research analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, November 2nd, The Fly reports.

A number of other equities analysts have also recently commented on KL. Royal Bank Of Canada reissued an “outperform” rating on shares of Kirkland Lake Gold in a research report on Thursday, September 7th. Desjardins cut shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. National Bank Financial restated an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st. Finally, Zacks Investment Research lowered shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.00.

Kirkland Lake Gold (KL) opened at $13.89 on Thursday. Kirkland Lake Gold has a 52 week low of $4.74 and a 52 week high of $15.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.32. The firm has a market cap of $2,895.42 and a PE ratio of 24.05.

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A number of large investors have recently added to or reduced their stakes in KL. Cubist Systematic Strategies LLC purchased a new stake in shares of Kirkland Lake Gold during the 3rd quarter valued at about $199,000. U S Global Investors Inc. purchased a new position in shares of Kirkland Lake Gold in the third quarter worth approximately $19,512,000. Jane Street Group LLC purchased a new position in shares of Kirkland Lake Gold in the third quarter worth approximately $3,826,000. Magnetar Financial LLC purchased a new position in shares of Kirkland Lake Gold in the third quarter worth approximately $473,000. Finally, Royce & Associates LP purchased a new position in shares of Kirkland Lake Gold in the third quarter worth approximately $1,993,000. Institutional investors and hedge funds own 21.65% of the company’s stock.

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.

The Fly

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