In a latest note to investors, a research analyst has provided a rating update for the Kirkland Lake Gold (KL). Today, analyst Raj Ray gave a Buy rating to KL and set a C$38 price target.
Ray has an average return of 41.4% when recommending Kirkland Lake Gold.
According to TipRanks.com, Ray is ranked #1489 out of 5108 analysts.
Kirkland Lake Gold has an analyst consensus of Strong Buy, with a price target consensus of C$35.83, implying a 9.5% upside from current levels. In a report issued on December 3, Eight Capital also upgraded the stock to Buy with a C$33.25 price target.
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Kirkland Lake Gold’s market cap is currently C$6.83B and has a P/E ratio of 23.7. The company has a Price to Book ratio of 4.37.
Kirkland Lake Gold Ltd. engages in mining, development, and exploration of gold properties. It operates through the following projects: Holt Mine, Macassa Mine, and Taylor Mine. The company was founded on July 10, 2015 and is headquartered in Toronto, Canada.
The company’s shares closed on Wednesday at C$32.71, close to its 52-week high of C$32.85.
