Kirkland Lake Gold (KL) Gets a Hold Rating from BMO Capital

By Jason Carr

Kirkland Lake Gold (KLResearch Report), the Materials sector company, has received a rating update from a Wall Street analyst yesterday. BMO Capital’s analyst Brian Quast reiterates their Hold rating on the shares, with a C$50 price target.

According to TipRanks.com, Quast is a 4-star analyst with an average return of 6.2% and a 42.5% success rate. Quast covers the Basic Materials sector, focusing on stocks such as OceanaGold Corporation, Kirkland Lake Gold Ltd, and Argonaut Gold Inc.

Currently, the analyst consensus on Kirkland Lake Gold is a Moderate Buy with an average price target of C$48.63, representing a 6.2% upside. In a report issued on February 22, GMP FirstEnergy also downgraded the stock to Hold.

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The company has a one-year high of C$44.65 and a one-year low of C$17.56. Currently, Kirkland Lake Gold has an average volume of 870.8K.

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 Friday at C$45.79.