Canaccord Genuity Keeps a Buy Rating on Kirkland Lake Gold (KL)
Canaccord Genuity analyst Carey MacRury maintained a Buy rating on Kirkland Lake Gold (KL) yesterday and set a price target of C$60.00. The company’s shares closed last Thursday at $38.88.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 19.0% and a 68.4% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Osisko Gold Royalties.
Currently, the analyst consensus on Kirkland Lake Gold is a Moderate Buy with an average price target of $49.60.
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Based on Kirkland Lake Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $692 million and net profit of $233 million. In comparison, last year the company earned revenue of $412 million and had a net profit of $169 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KL in relation to earlier this year.
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Kirkland Lake Gold Ltd. engages in the mining, development, and exploration of gold properties. The firms projects include Holt Mine, Macassa Mine, and Taylor Mine. The company was founded on July 10, 2015 and is headquartered in Toronto, Canada.
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