Upgrade from RBC Dominion (G&M) Kirkland Lake Gold Ltd. (KL-N/
, “outperform”) to US$64 from US$63. Average: US$59.
“Improved quarter-over-quarter results are expected as operations return to normal conditions following COVID19 related impacts in 2Q,” he said. “2Q results will also reflect high cash inflows of $185-million from KL’s Holt transaction with Newmont and its Osisko Mining share sale (less share repurchases).”