The Globe and Mail reports in its Tuesday edition that Clarus Securities analyst Jamie Spratt sees a turnaround story in Kirkland Lake Gold ($3.78). The Globe's Darcy Keith, Jody White and Dave Morris write in the Eye On Equities column that Mr. Spratt says Kirkland Lake Gold is approaching an operational inflection point at its Kirkland Lake mine complex. He expects increasing grades, higher production and declining costs will see a transition to being free cash flow neutral this year. He predicts an increase in production of 50 per cent by fiscal year 2017. Further positives include management with a solid record, a credible growth plan and an attractive valuation relative to its peers. Mr. Spratt commenced new coverage on Kirkland Lake Gold with a "speculative buy" rating and $5.75 target price. The analyst consensus price target over the next year, according to Thomson Reuters, is $4.07. Desjardins Securities analyst Adam Melnyk maintained a "buy" rating on Kirkland Lake Gold in The Globe on Nov. 23, 2013. The shares could then be had for $3.05. BMO analyst Brian Quast downgraded Kirkland Lake Gold ($2.54) to "underperform" in the Eye column on Nov. 26, 2013, when it could be had for $2.54.