National Bank Believes Kirkland Lake Gold (KL) Still Has Room to Grow
Shares of Kirkland Lake Gold (KL) were revisited by a Wall Street analyst today. National Bank’s analyst Don DeMarco reiterates their Buy rating on the shares, with a C$37 price target.
According to TipRanks.com, DeMarco is a 2-star analyst with an average return of -0.1% and a 52.0% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, SilverCrest Metals Inc, and First Majestic Silver.
Kirkland Lake Gold has an analyst consensus of Strong Buy, with a price target consensus of C$34.11, a 18.8% upside from current levels. In a report released today, Eight Capital also upgraded the stock to Buy with a C$33.25 price target.
Based on Kirkland Lake Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$73.04 million. In comparison, last year the company had a net profit of C$54.87 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 Monday at C$28.72, close to its 52-week high of C$30.94.