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Fly News Breaks for November 26, 2019
DRGDF, KL
Nov 26, 2019 | 07:42 EDT
Canaccord analyst Tom Gallo downgraded Kirkland Lake Gold to Hold from Buy following its proposed acquisition of Detour Gold in an all share transaction. The analyst said the deal is roughly 24% accretive but it adds an aspect of operational uncertainty and decreases margins for Kirkland. Gallo lowered his price target to C$%% from C$67 on Kirkland Lake Gold shares.
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