Scotiabank Upgrades Kirkland Lake Gold Ltd (KL) to “Outperform”

Kirkland Lake Gold Ltd (TSE:KL) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Friday. The firm presently has a C$19.00 target price on the stock, up from their prior target price of C$17.50. Scotiabank’s target price suggests a potential upside of 12.23% from the company’s previous close.

A number of other equities analysts have also issued reports on KL. CIBC raised their target price on shares of Kirkland Lake Gold from C$12.50 to C$14.50 in a research report on Tuesday, July 11th. National Bank Financial lifted their price objective on shares of Kirkland Lake Gold from C$15.00 to C$15.35 in a research report on Friday, July 14th. Royal Bank Of Canada raised their target price on Kirkland Lake Gold from C$14.00 to C$16.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Desjardins reissued a “buy” rating and issued a C$19.00 target price on shares of Kirkland Lake Gold in a report on Friday, September 29th. Finally, BMO Capital Markets raised their target price on Kirkland Lake Gold from C$16.75 to C$20.50 in a report on Monday, October 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Kirkland Lake Gold presently has an average rating of “Buy” and a consensus price target of C$18.92.

Shares of Kirkland Lake Gold (KL) traded up C$1.80 during trading hours on Friday, reaching C$16.93. 37,132 shares of the company traded hands.

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In other Kirkland Lake Gold news, Director Raymond Wesley Threlkeld sold 9,000 shares of Kirkland Lake Gold stock in a transaction dated 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 purchased 600,000 shares of the stock in a transaction on Thursday, August 10th. The stock was acquired at an average price of C$13.19 per share, with a total value of C$7,914,000.00. Insiders purchased a total of 1,205,870 shares of company stock valued at $16,734,888 in the last three months.

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