Zacks: Kirkland Lake Gold Ltd. (KL) Receives Consensus Recommendation of “Buy” from Brokerages

Kirkland Lake Gold Ltd. (NYSE:KL) has been given a consensus broker rating score of 1.80 (Buy) from the five brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. Kirkland Lake Gold’s rating score has improved by 10% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a one year consensus target price of $19.20 for the company, according to Zacks. Zacks has also assigned Kirkland Lake Gold an industry rank of 197 out of 265 based on the ratings given to its competitors.

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A number of analysts recently weighed in on KL shares. Desjardins raised shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating in a research report on Monday, November 27th. Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, January 3rd.

A number of hedge funds have recently modified their holdings of KL. BNP Paribas Arbitrage SA bought a new position in shares of Kirkland Lake Gold during the third quarter valued at approximately $158,000. Cubist Systematic Strategies LLC bought a new position in shares of Kirkland Lake Gold during the third quarter valued at approximately $199,000. Gotham Asset Management LLC bought a new position in shares of Kirkland Lake Gold during the fourth quarter valued at approximately $222,000. SG Americas Securities LLC bought a new position in shares of Kirkland Lake Gold during the fourth quarter valued at approximately $229,000. Finally, Schroder Investment Management Group bought a new position in shares of Kirkland Lake Gold during the third quarter valued at approximately $231,000. Institutional investors and hedge funds own 44.20% of the company’s stock.

Kirkland Lake Gold (KL) traded down $0.29 during trading on Friday, reaching $14.67. 376,604 shares of the company were exchanged, compared to its average volume of 756,200. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.30 and a quick ratio of 1.98. Kirkland Lake Gold has a 12 month low of $6.30 and a 12 month high of $16.89. The stock has a market cap of $3,265.43 and a price-to-earnings ratio of 23.69.

Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.10. Kirkland Lake Gold had a net margin of 17.72% and a return on equity of 14.37%. The company had revenue of $212.36 million for the quarter. equities analysts predict that Kirkland Lake Gold will post 1.09 EPS for the current year.

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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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