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KL Gold gets nod from BMO Capital to outperform expectations

May 29, 2020


Touting a strong start to 2020, BMO Capital has signalled the market that Kirkland Lake Gold should outperform expectations. BMO analyst Brian Quast upgraded Kirkland Lake Gold to "outperform" from "market perform", suggesting the company's shares could hit C$71, up from C$65.

BMO says the company has continued to demonstrate "strong" execution at the Fosterville gold mine, which has allowed it to maintain the majority of its near-term free cash flow generation, Quast told investors in a research note. Having lagged its peers, Kirkland's valuation has become increasingly attractive, adds the analyst.

KL Gold owns the Fosterville mine in Australia as well as the flagship Macassa Mine in Kirkland Lake and Canada's second largest gold producer, the Detour Gold Mine in Northeastern Ontario. 
 



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