Kirkland Lake Gold Ltd (TSE:KL) PT Set at C$16.50 by Scotiabank

Kirkland Lake Gold Ltd (TSE:KL) has been assigned a C$16.50 target price by stock analysts at Scotiabank in a research note issued to investors on Wednesday, August 9th. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 12.70% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. Royal Bank Of Canada lifted their price target on Kirkland Lake Gold from C$14.00 to C$16.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. National Bank Financial lifted their price target on Kirkland Lake Gold from C$15.00 to C$15.35 in a report on Friday, July 14th. CIBC lifted their price target on Kirkland Lake Gold from C$12.50 to C$14.50 in a report on Tuesday, July 11th. Finally, BMO Capital Markets set a C$15.25 price target on Kirkland Lake Gold and gave the company an “outperform” rating in a report on Friday, June 30th. Four investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of C$15.52.

Shares of Kirkland Lake Gold (KL) traded up 1.31% during mid-day trading on Wednesday, hitting $14.64. 1,431,445 shares of the company traded hands. Kirkland Lake Gold has a 52-week low of $3.60 and a 52-week high of $15.00. The firm has a market cap of $3.06 billion and a price-to-earnings ratio of 36.06. The firm has a 50-day moving average price of $12.54 and a 200 day moving average price of $10.65.

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In related news, Director Eric S. Sprott bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of C$13.47 per share, for a total transaction of C$1,347,000.00. Also, insider Christina Sylvia Je Ouellette bought 2,200 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of C$13.28 per share, with a total value of C$29,216.00. Over the last quarter, insiders purchased 2,922,200 shares of company stock valued at $33,371,841.

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