11:53:26 EDT Sat 19 Sep 2020
Enter Symbol
or Name

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Kirkland Lake Gold Ltd
Symbol KL
Shares Issued 210,189,007
Close 2019-10-08 C$ 63.35
Recent Sedar Documents

Globe says new coverage rates Kirkland Lake "neutral"

2019-10-09 07:49 ET - In the News

The Globe and Mail reports in its Wednesday, Oct. 9, edition that Credit Suisse analyst Fahad Tariq commenced coverage of Kirkland Lake Gold with a "neutral" rating, seeing a few near-term catalysts beyond exploration updates. The Globe's David Leeder writes that Mr. Tariq set a share target of $47 (U.S.). Analysts on average target the shares at $49.55. Mr. Tariq says in a note: "Though we appreciate KL's growing production, long-term exploration upside at Fosterville and Macassa, and bottom-quartile cost profile that results in substantial FCF, we are cautious on the stock based on the valuation. We do not anticipate future discoveries at Fosterville will necessarily match the high Swan Zone grades, and therefore, the upside potential, while still there, does not seem as exciting at the current stock price. The most common investor questions on KL are regarding the amount of upside left, given the stock's strong performance to date, and whether investors who have not already bought KL have missed the story. We continue to see upside, albeit more limited than the recent trend, from Fosterville and Macassa exploration, but the valuation gives us pause, as it seems to price in continued jumps in reserves."

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