Why Kirkland Lake Gold (KL) Stock Might Be A Great Pick

By Zacks Investment ResearchStock MarketsMar 03, 2020 10:33PM ET

www.investing.com/analysis/why-kirkland-lake-gold-kl-stock-might-be-a-great-pick-200513222

Why Kirkland Lake Gold (KL) Stock Might Be A Great Pick

By Zacks Investment Research | Mar 03, 2020 10:33PM ET

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One stock that might be an intriguing choice for investors right now is Kirkland Lake Gold Ltd. (TSX:KL) This is because this security in the Mining – Gold space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Mining – Gold space as it currently has a Zacks Industry Rank of 66 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Kirkland Lake Gold is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Kirkland Lake Gold Ltd. Price and Consensus

Kirkland Lake Gold Ltd. Price and Consensus

Kirkland Lake Gold Ltd. price-consensus-chart | Kirkland Lake Gold Ltd. Quote

In fact, over the past month, current quarter estimates have risen from 74 cents per share to 93 cents, while current year estimates have risen from $3.59 per share to $3.65. This has helped KL to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Kirkland Lake Gold. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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Kirkland Lake Gold Ltd. (KL): Free Stock Analysis Report

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Why Kirkland Lake Gold (KL) Stock Might Be A Great Pick

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