BUZZ-Kirkland Lake Gold loses shine following results, Desjardins downgrade

Kirkland Lake Gold Inc.

KGI is an operating and exploration gold Company in Kirkland Lake, Ontario which is located in the Lower Abitibi Greenstone belt in northeastern Ontario.

Reply New Message

Prev Message Back To Forum Threaded View Next Message

RockLicker

Rank: President [?]

Points: 101894 [?]

Votes: 328 Score: 3.9 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

BUZZ-Kirkland Lake Gold loses shine following results, Desjardins downgrade

posted on Oct 12, 2017 11:11PM

2017-10-12 11:11:39 AM ET (Reuters)

** Canada-based gold miner's shares down 7.5 pct at $13.78; Toronto stock down 7 pct at C17.20

** Desjardins downgraded rating to "hold" from "buy"

** Downgrade due to run-up in the stock following strong Q2 results and current valuation relative to peers

** Company on Wednesday said Q3 gold production rose 4 pct to 139,100 ounces as its Australian mine produced higher grade ores

** Desjardins says grades comparatively lower in Q3 than Q2; sees mined grades picking up again in Q4

** 9 of 10 brokerages rate stock "buy" or higher and 1 "hold"; their median PT is $16.13

** Up to Wednesday's close, stock had risen 30 pct since it listed on NYSE on Aug. 16; Toronto-listed stock, to Wednesday's close, had risen 163 pct YTD (Reporting by Karan Nagarkatti in Bengaluru)

Reply New Message

Prev Message Back To Forum Threaded View Next Message

Please to post a reply