BMO Capital Keeps Their Hold Rating on Kirkland Lake Gold (KL)

By Austin Angelo

Shares of Kirkland Lake Gold (KLResearch Report) were revisited by a Wall Street analyst yesterday. BMO Capital’s analyst Brian Quast reiterates their Hold rating on the shares, with a C$35 price target.

According to TipRanks.com, Quast is a 3-star analyst with an average return of 3.9% and a 35.4% success rate. Quast covers the Basic Materials sector, focusing on stocks such as OceanaGold Corporation, Kirkland Lake Gold Ltd, and TMAC Resources.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Kirkland Lake Gold with a C$37.78 average price target, which is a 9.8% upside from current levels. In a report issued on January 7, Desjardins also downgraded the stock to Hold with a C$39 price target.

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Kirkland Lake Gold’s market cap is currently C$7.22B and has a P/E ratio of 26.3. The company has a Price to Book ratio of 4.62.

Kirkland Lake Gold Ltd. engages in mining, development, and exploration of gold properties. It operates through the following projects: Holt Mine, Macassa Mine, and Taylor Mine. The company was founded on July 10, 2015 and is headquartered in Toronto, Canada.

The company’s shares closed on Tuesday at C$34.42, close to its 52-week high of C$36.12.