Could Kirkland Lake Gold Ltd. (KL) Go Down After Achieving 52-Week High?

June 14, 2018 - By Ash Ash

The stock of Kirkland Lake Gold Ltd. (NYSE:KL) hit a new 52-week high and has $20.96 target or 3.00 % above today’s $20.35 share price. The 5 months bullish chart indicates low risk for the $4.31 billion company. The 1-year high was reported on Jun, 14 by Barchart.com. If the $20.96 price target is reached, the company will be worth $129.42 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.80% or $0.36 during the last trading session, reaching $20.35. About 492,878 shares traded. Kirkland Lake Gold Ltd. (NYSE:KL) has risen 144.43% since June 14, 2017 and is uptrending. It has outperformed by 131.86% the S&P500.

More notable recent Kirkland Lake Gold Ltd. (NYSE:KL) news were published by: Investingnews.com which released: “VIDEO — David Erfle: Gold Price All About the US Dollar” on May 30, 2018, also Seekingalpha.com with their article: “Not Smart To Short Eric Sprott’s Kirkland Lake And Novo Resources” published on June 01, 2018, Fool.ca published: “Is Now the Time to Bet on Precious Metals and Kirkland Lake Gold Ltd. (TSX:KL)?” on June 05, 2018. More interesting news about Kirkland Lake Gold Ltd. (NYSE:KL) were released by: Globenewswire.com and their article: “Kirkland Lake Gold Renews Normal Course Issuer Bid” published on May 17, 2018 as well as Juniorminingnetwork.com‘s news article titled: “Artemis Resources Closes Novo Share Sale Deal to Bank Canadian $20 million” with publication date: May 31, 2018.

Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company has market cap of $4.31 billion. The firm owns and operates five underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria and the Cosmo Mine in Northern Territory, Australia, as well as four milling facilities in Canada and Australia. It has a 32.25 P/E ratio. The firm was formerly known as Kirkland Lake Gold Inc. and changed its name to Kirkland Lake Gold Ltd. in December 2016.

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