The Globe and Mail reports in its Saturday edition that BMO Capital Markets analyst Brian Quast elevated his rating for Kirkland Lake Gold ($53.05) to "outperform," while boosting his share target to $71 from $65. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Quast says in a note: "Kirkland Lake has continued to demonstrate strong execution at the Fosterville gold mine. This has allowed the company to maintain the majority of its near-term free cash flow generation as two of its mines are in the process of ramping up following temporary reductions to operations." The Globe reported on June 7, 2019, that Canaccord Genuity analyst Tom Gallo had resumed coverage on Kirkland Lake with a "buy" rating and $53 share target. The shares could then be had for $51.18. The Globe reported on Nov. 27, 2019, that Mr. Gallo had downgraded Kirkland Lake to "hold" from "buy." Mr. Gallo called Kirkland Lake's bid to buy Detour Gold "a head scratcher." The shares were then going for $52.97. The Globe reported on March 20, 2020, that CIBC World Markets analyst Cosmos Chiu raised Kirkland Lake to "outperformer" from "neutral," with an unchanged share target of $62. The shares could then be had for $39.32.
© 2020 Canjex Publishing Ltd. All rights reserved.