Kirkland Lake Gold (KL) Got Some Good News

Kirkland Lake Gold (TSX: KL), the NA sector company, has received a rating update from a Wall Street analyst today. PI Financial’s analyst Philip Ker upgraded KL to Buy , with a C$28.50 price target.

Currently, the analyst consensus on Kirkland Lake Gold is a Moderate Buy with an average price target of C$33.

Based on Kirkland Lake Gold’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$79.39 million. In comparison, last year the company had a net profit of C$46.46 million.

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 Friday at C$24.48.