Kirkland Lake Gold Ltd (NYSE:KL)’s share price rose 11.3% during trading on Thursday . The stock traded as high as $21.19 and last traded at $21.06. Approximately 2,627,131 shares traded hands during mid-day trading, an increase of 183% from the average daily volume of 926,682 shares. The stock had previously closed at $18.93.
KL has been the subject of several analyst reports. Zacks Investment Research upgraded Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research note on Friday, July 27th. BMO Capital Markets lowered Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 18th. Finally, ValuEngine upgraded Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.00.
The company has a market capitalization of $3.99 billion, a P/E ratio of 29.77 and a beta of -0.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 2.46.
Kirkland Lake Gold (NYSE:KL) last announced its quarterly earnings results on Wednesday, August 1st. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The firm had revenue of $214.65 million for the quarter. Kirkland Lake Gold had a return on equity of 18.54% and a net margin of 24.94%. On average, research analysts forecast that Kirkland Lake Gold Ltd will post 1.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a dividend of $0.023 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.09 annualized dividend and a yield of 0.43%. Kirkland Lake Gold’s dividend payout ratio is presently 12.68%.
Large investors have recently made changes to their positions in the business. Bridgewater Associates LP boosted its position in shares of Kirkland Lake Gold by 7.3% in the second quarter. Bridgewater Associates LP now owns 38,491 shares of the company’s stock worth $815,000 after buying an additional 2,632 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Kirkland Lake Gold in the second quarter worth about $132,000. Raymond James & Associates boosted its position in shares of Kirkland Lake Gold by 24.2% in the second quarter. Raymond James & Associates now owns 48,323 shares of the company’s stock worth $1,023,000 after buying an additional 9,417 shares during the period. Shepherd Kaplan Krochuk LLC purchased a new stake in shares of Kirkland Lake Gold in the second quarter worth about $201,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in shares of Kirkland Lake Gold in the second quarter worth about $211,000. Institutional investors own 42.69% of the company’s stock.
About Kirkland Lake Gold (NYSE:KL)
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria, Australia, as well as three milling facilities in Canada and Australia.
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