Kirkland Lake Gold Ltd (TSE:KL) was downgraded by equities research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a note issued to investors on Thursday. They currently have a C$17.50 target price on the stock, up from their previous target price of C$17.00. Scotiabank’s price target indicates a potential downside of 5.35% from the company’s previous close.
Other analysts also recently issued research reports about the company. National Bank Financial restated an “outperform” rating and set a C$19.00 target price on shares of Kirkland Lake Gold in a research note on Saturday, September 23rd. BMO Capital Markets set a C$15.25 target price on Kirkland Lake Gold and gave the company an “outperform” rating in a research note on Friday, June 30th. Royal Bank Of Canada increased their target price on Kirkland Lake Gold from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research note on Thursday, August 17th. Desjardins restated a “buy” rating and set a C$19.00 target price on shares of Kirkland Lake Gold in a research note on Friday, September 29th. Finally, CIBC increased their target price on Kirkland Lake Gold from C$12.50 to C$14.50 in a research note on Tuesday, July 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Kirkland Lake Gold presently has an average rating of “Buy” and a consensus price target of C$17.92.
Shares of Kirkland Lake Gold (TSE:KL) traded down 9.03% during trading on Thursday, hitting $16.82. The company’s stock had a trading volume of 2,429,667 shares. The firm’s 50 day moving average is $16.14 and its 200-day moving average is $12.32. The company has a market capitalization of $3.51 billion and a P/E ratio of 41.43. Kirkland Lake Gold has a 1-year low of $3.60 and a 1-year high of $18.57.
In other Kirkland Lake Gold news, Director Raymond Wesley Threlkeld sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of C$13.29, for a total value of C$119,610.00. Also, Director Eric S. Sprott acquired 600,000 shares of Kirkland Lake Gold stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of C$13.19 per share, with a total value of C$7,914,000.00. In the last 90 days, insiders have purchased 1,205,650 shares of company stock valued at $16,730,856.
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