The Globe and Mail reports in its Tuesday, Nov. 28, edition that Desjardins Securities analyst Raj Ray says Kirkland Lake Gold is "getting ready to rock again." The Globe's David Leeder writes in the Eye On Equities column that Mr. Ray boosted his rating to "buy" from "hold." His share target rose to $24 from $20. Analysts on average target the shares at $21.31. Following a visit to its Macassa mine in Kirkland Lake, Ont., he says the company could be heading to "strong" operational performance at the facility with "noticeable" improvement in productivity alongside reduced costs. Mr. Ray says in a note: "Combined with continuing strong operating results from the Fosterville operations, this should put KL Gold on an even stronger footing. Management has undertaken a number of measures at Macassa, including development of bigger drifts in the lower South Mine Complex (SMC) and introduction of a larger fleet, which along with the wider and higher-grade characteristics of the lower SMC, is expected to drive significant improvement in production and cost reduction starting 2018. ... KL Gold is already up 152 per cent year-to-date, making it one of the best-performing gold stocks on the TSX in 2017."
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