Roth Capital set a $48.00 price objective on Kirkland Lake Gold (NYSE:KL) in a research report sent to investors on Thursday, The Fly reports. The brokerage currently has a buy rating on the stock.
A number of other brokerages have also weighed in on KL. TheStreet lowered Vince from a c- rating to a d rating in a research report on Thursday, April 11th. ValuEngine raised Xylem from a hold rating to a buy rating in a research report on Friday, June 21st. National Bank Financial lowered Kirkland Lake Gold from an outperform overweight rating to a sector perform overweight rating in a research report on Monday, May 27th. Scotiabank lowered Kirkland Lake Gold from an outperform rating to a sector perform rating in a research report on Wednesday, July 3rd. Finally, Zacks Investment Research lowered GenMark Diagnostics from a hold rating to a sell rating in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Kirkland Lake Gold currently has an average rating of Hold and an average price target of $44.67.
Shares of NYSE KL opened at $42.92 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.89 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $38.96. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 26.33 and a beta of -0.02. Kirkland Lake Gold has a twelve month low of $17.26 and a twelve month high of $44.04.
Kirkland Lake Gold (NYSE:KL) last issued its earnings results on Tuesday, May 7th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business had revenue of $304.91 million during the quarter, compared to analyst estimates of $386.33 million. Kirkland Lake Gold had a return on equity of 27.33% and a net margin of 32.67%. Kirkland Lake Gold’s revenue was up 53.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. On average, equities research analysts anticipate that Kirkland Lake Gold will post 2.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.28%. This is a positive change from Kirkland Lake Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, June 27th. Kirkland Lake Gold’s payout ratio is presently 11.76%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KL. FMR LLC raised its position in shares of Kirkland Lake Gold by 38.0% in the 4th quarter. FMR LLC now owns 11,869,427 shares of the company’s stock worth $309,516,000 after acquiring an additional 3,268,950 shares in the last quarter. Norges Bank acquired a new position in Kirkland Lake Gold during the 4th quarter valued at about $76,164,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Kirkland Lake Gold by 30.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,187,834 shares of the company’s stock valued at $157,815,000 after buying an additional 1,210,933 shares in the last quarter. Scout Investments Inc. acquired a new position in Kirkland Lake Gold during the 1st quarter valued at about $25,092,000. Finally, Bank of Montreal Can increased its position in Kirkland Lake Gold by 31.7% during the 1st quarter. Bank of Montreal Can now owns 3,183,803 shares of the company’s stock valued at $96,820,000 after buying an additional 766,461 shares in the last quarter. 47.63% of the stock is owned by hedge funds and other institutional investors.
Kirkland Lake Gold Company Profile
Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located in Victoria, Australia, as well as three milling facilities in Canada and Australia.
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