After Scotiabank and Merrill Lynch gave Kirkland Lake Gold (NYSE: KL) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Josh Wolfson maintained a Buy rating on Kirkland Lake Gold yesterday and set a price target of $64.00. The company’s shares closed last Monday at $48.58.
According to TipRanks.com, Wolfson is a 2-star analyst with an average return of 0.8% and a 56.1% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Newmont Mining, and Eldorado Gold.
Kirkland Lake Gold has an analyst consensus of Strong Buy, with a price target consensus of $59.79, representing a 18.8% upside. In a report issued on October 8, Merrill Lynch also maintained a Buy rating on the stock with a $62.50 price target.
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The company has a one-year high of $57.69 and a one-year low of $18.03. Currently, Kirkland Lake Gold has an average volume of 1.73M.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.
