SG Americas Securities LLC reduced its stake in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 43.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,821 shares of the company’s stock after selling 17,084 shares during the quarter. SG Americas Securities LLC’s holdings in Kirkland Lake Gold were worth $900,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KL. Van ECK Associates Corp grew its holdings in shares of Kirkland Lake Gold by 42.5% during the 1st quarter. Van ECK Associates Corp now owns 21,121,296 shares of the company’s stock worth $623,072,000 after purchasing an additional 6,295,862 shares in the last quarter. Norges Bank bought a new stake in shares of Kirkland Lake Gold during the 4th quarter worth $115,208,000. Invesco Ltd. lifted its position in shares of Kirkland Lake Gold by 124.1% during the 1st quarter. Invesco Ltd. now owns 2,851,602 shares of the company’s stock worth $84,407,000 after buying an additional 1,579,083 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Kirkland Lake Gold during the 1st quarter worth $39,521,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Kirkland Lake Gold by 127.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,154,671 shares of the company’s stock worth $62,747,000 after buying an additional 1,208,416 shares during the last quarter. 51.04% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. Roth Capital upgraded Kirkland Lake Gold from a “neutral” rating to a “buy” rating in a research report on Thursday, June 11th. National Bank Financial downgraded Kirkland Lake Gold from an “outperform spec under weight” rating to a “sector perform spec overwgt” rating in a research report on Thursday, July 2nd. Bank of America started coverage on Kirkland Lake Gold in a research report on Tuesday, April 7th. They set a “buy” rating and a $42.00 price objective for the company. TD Securities increased their target price on Kirkland Lake Gold from $76.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Kirkland Lake Gold in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $56.10.
Shares of KL stock opened at $54.60 on Friday. The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 5.04 and a beta of 0.84. The stock has a 50-day moving average of $42.78 and a 200-day moving average of $38.55. Kirkland Lake Gold Ltd has a 1-year low of $18.02 and a 1-year high of $54.74.
Kirkland Lake Gold (NYSE:KL) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $580.98 million during the quarter, compared to analysts’ expectations of $566.08 million. Kirkland Lake Gold had a return on equity of 29.43% and a net margin of 36.22%. As a group, equities analysts forecast that Kirkland Lake Gold Ltd will post 3.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th were paid a $0.125 dividend. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, June 29th. This represents a $0.50 annualized dividend and a dividend yield of 0.92%. Kirkland Lake Gold’s dividend payout ratio is presently 18.25%.
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.
Featured Story: Why do company’s buyback their stock?
Receive News & Ratings for Kirkland Lake Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirkland Lake Gold and related companies with MarketBeat.com's FREE daily email newsletter.