Big changes are happening at Kirkland Lake Gold Ltd. (NYSE:KL), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 4.71% or (1.78 points) to $39.6 from its previous close of $37.82. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 750023 contracts so far this session. KL shares had a relatively better volume day versus average trading capacity of 1.5 million shares, but with a 0.21 billion float and a 0.34% run over a week, it’s definitely worth keeping an eye on. KL share price has been trading recently between $37.16 and $37.99.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Gold Prices Rise 5% YTD: Will India Help Sustain the Rally?” and dated June 10, 2019.
During the recent trading session for Kirkland Lake Gold Ltd. (NYSE:KL), the company witnessed their stock rise $1.62 over a week and surge $4.56 from the price 20 days ago. When compared to their established 52-week high of $39.54, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/06/19. The recent low of $17.26 stood for a 0.53% since 09/18/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Kirkland Lake Gold Ltd., the two-week RSI stands at 72.25. This figure suggests that KL stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current KL readings is similarly very revealing as it has a stochastic reading of 85.8% at this stage. This figure means that KL share price today is being oversold.
Technical chart claims that Kirkland Lake Gold Ltd. (KL) would settle between $38.15/share to $38.49/share level. However, if the stock price goes below the $37.32 mark, then the market for Kirkland Lake Gold Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $36.83 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.86. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at TD Securities lowered their recommendation on shares of KL from Buy to Hold in their opinion released on February 22. Canaccord Genuity, analysts launched coverage of Kirkland Lake Gold Ltd. (NYSE:KL) stock with a Buy recommendation, according to their flash note issued to investors on January 22. Analysts at Desjardins lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to January 07.
KL equity has an average rating of 2.31, with the figure leaning towards a bullish end. 13 analysts who tracked the company were contacted by Reuters. Amongst them, 6 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated Kirkland Lake Gold Ltd. (NYSE:KL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, KL stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 4.64 while for the average stock in the same group, the multiple is 3.77. Kirkland Lake Gold Ltd. current P/E ratio of 39.26 means it is trading at a premium against its industry’s 2.08. In the past 5 years, this ratio for the stock has been fluctuating between 2.95 and 15.38.
Kirkland Lake Gold Ltd. (KL)’s current-quarter revenues are projected to climb by nearly 32.12% to hit $283600, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 38.02% from $915910 to a noteworthy $1.26 billion. At the other end of the current quarter income statement, Kirkland Lake Gold Ltd. is expected to see its adjusted earnings surge by roughly 90% to hit $0.57 per share. For the fiscal year, KL’s earnings are projected to climb by roughly 52.21% to hit $2.07 per share.