Royal Bank of Canada Boosts Kirkland Lake Gold (KL) Price Target to C$38.00

Kirkland Lake Gold (TSE:KL) had its target price lifted by Royal Bank of Canada from C$33.00 to C$38.00 in a report issued on Wednesday, December 19th. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently commented on the company. TD Securities increased their price target on Kirkland Lake Gold from C$37.00 to C$43.00 and gave the company a buy rating in a research report on Wednesday, December 12th. BMO Capital Markets increased their price target on Kirkland Lake Gold from C$30.00 to C$32.50 in a research report on Wednesday, December 12th. CIBC raised their price objective on Kirkland Lake Gold from C$36.00 to C$40.00 in a research report on Wednesday, December 12th. Desjardins raised their price objective on Kirkland Lake Gold from C$35.00 to C$38.00 in a research report on Wednesday, December 12th. Finally, Eight Capital raised Kirkland Lake Gold from a neutral rating to a buy rating and raised their price objective for the company from C$25.00 to C$33.25 in a research report on Monday, December 3rd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of C$37.31.

TSE KL traded up C$0.64 during trading hours on Wednesday, hitting C$35.86. 496,375 shares of the company traded hands, compared to its average volume of 763,730. Kirkland Lake Gold has a twelve month low of C$16.54 and a twelve month high of C$36.12. The company has a debt-to-equity ratio of 2.23, a current ratio of 2.00 and a quick ratio of 1.68.

Kirkland Lake Gold (TSE:KL) last issued its quarterly earnings results on Tuesday, October 30th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.40 by C($0.03). The company had revenue of C$291.05 million during the quarter. As a group, sell-side analysts predict that Kirkland Lake Gold will post 1.38999997237365 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 11th. Investors of record on Friday, January 11th were issued a dividend of $0.04 per share. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 0.45%. The ex-dividend date was Friday, December 28th. Kirkland Lake Gold’s dividend payout ratio (DPR) is presently 7.83%.

About Kirkland Lake Gold

Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria, Australia, as well as three milling facilities in Canada and Australia.

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Analyst Recommendations for Kirkland Lake Gold (TSE:KL)

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