Kirkland Lake Gold Ltd (KL) Cut to Sector Perform at Scotiabank
Scotiabank cut shares of Kirkland Lake Gold Ltd (TSE:KL) from an outperform rating to a sector perform rating in a report issued on Thursday morning. They currently have C$17.50 price objective on the stock, up from their previous price objective of C$17.00.
Several other equities analysts also recently issued reports on the stock. Desjardins downgraded shares of Kirkland Lake Gold from a buy rating to a hold rating and increased their price objective for the company from C$19.00 to C$20.00 in a report on Thursday. BMO Capital Markets increased their price objective on shares of Kirkland Lake Gold from C$16.75 to C$20.50 in a report on Monday, October 2nd. National Bank Financial reaffirmed an outperform rating and set a C$19.00 price objective on shares of Kirkland Lake Gold in a report on Saturday, September 23rd. Royal Bank Of Canada increased their price objective on shares of Kirkland Lake Gold from C$14.00 to C$16.00 and gave the company an outperform rating in a report on Thursday, August 17th. Finally, CIBC increased their price objective on shares of Kirkland Lake Gold from C$12.50 to C$14.50 in a report 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. The company currently has an average rating of Buy and an average price target of C$18.67.
Shares of Kirkland Lake Gold (TSE KL) opened at 16.42 on Thursday. Kirkland Lake Gold has a 52 week low of $3.60 and a 52 week high of $18.57. The stock has a market cap of $3.43 billion and a PE ratio of 40.44. The firm has a 50-day moving average of $16.27 and a 200 day moving average of $12.42.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, September 28th.
In other Kirkland Lake Gold news, insider Christina Sylvia Je Ouellette purchased 2,200 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of C$13.28 per share, with a total value of C$29,216.00. Also, Director Eric S. Sprott purchased 200,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was acquired at an average cost of C$15.72 per share, for a total transaction of C$3,144,000.00. Over the last three months, insiders bought 1,205,650 shares of company stock worth $16,730,856.
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