In a report issued on November 5, Carey MacRury from Canaccord Genuity maintained a Buy rating on Kirkland Lake Gold (KL), with a price target of C$80.00. The company’s shares closed last Monday at $45.14.
According to TipRanks.com, MacRury is a top 100 analyst with an average return of 24.1% and a 73.0% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Osisko Gold Royalties, and Golden Star Resources.
Currently, the analyst consensus on Kirkland Lake Gold is a Strong Buy with an average price target of $62.84, which is a 36.3% upside from current levels. In a report issued on October 27, Scotiabank also maintained a Buy rating on the stock with a C$70.00 price target.
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Based on Kirkland Lake Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $633 million and net profit of $202 million. In comparison, last year the company earned revenue of $381 million and had a net profit of $177 million.
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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.
