In a report issued on January 14, Carey MacRury from Canaccord Genuity maintained a Buy rating on Kirkland Lake Gold (KL), with a price target of C$75.00. The company’s shares closed last Wednesday at $34.89.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 16.8% and a 63.1% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Osisko Gold Royalties.
Kirkland Lake Gold has an analyst consensus of Moderate Buy, with a price target consensus of $50.63, which is a 48.4% upside from current levels. In a report issued on January 4, RBC Capital also maintained a Buy rating on the stock with a $55.00 price target.
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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 12 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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