Kirkland Lake Gold (NYSE:KL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, January 23rd.
According to Zacks, “Kirkland Lake Gold Ltd. engages in the provision of mining and mineral exploration. It focuses on gold assets primarily in Macassa Mine Complex, the Taylor Mine located in northeastern Ontario and the Fosterville Gold Mine located in the state of Victoria, Australia. Kirkland Lake Gold Ltd. is headquartered in Toronto, Canada. “
Other analysts have also issued reports about the company. Desjardins began coverage on Kirkland Lake Gold in a research note on Friday, September 29th. They issued a “buy” rating for the company. Scotiabank upgraded Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. Kirkland Lake Gold has a consensus rating of “Buy” and a consensus target price of $17.00.
Shares of Kirkland Lake Gold (NYSE:KL) traded up $1.21 during midday trading on Tuesday, hitting $15.04. The company’s stock had a trading volume of 1,155,791 shares, compared to its average volume of 771,713. The company has a market capitalization of $2,833.16 and a PE ratio of 34.18. Kirkland Lake Gold has a 12 month low of $6.30 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.59.
Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth about $310,368,000. The Manufacturers Life Insurance Company grew its position in shares of Kirkland Lake Gold by 45.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,031,264 shares of the company’s stock worth $46,560,000 after buying an additional 941,769 shares during the period. Investec Asset Management LTD grew its position in shares of Kirkland Lake Gold by 362.3% during the 4th quarter. Investec Asset Management LTD now owns 1,761,588 shares of the company’s stock worth $27,093,000 after buying an additional 1,380,516 shares during the period. U S Global Investors Inc. acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth about $19,512,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of Kirkland Lake Gold during the 4th quarter worth about $27,080,000. Institutional investors own 42.83% of the company’s stock.
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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.
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