Zacks: Analysts Set $17.93 Price Target for Kirkland Lake Gold Ltd. (KL)
Kirkland Lake Gold Ltd. (NYSE:KL) has been given a consensus broker rating score of 1.80 (Buy) from the five analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. Kirkland Lake Gold’s rating score has improved by 20% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12 month consensus price objective of $17.93 for the company and are forecasting that the company will post $0.25 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Kirkland Lake Gold an industry rank of 102 out of 265 based on the ratings given to related companies.
KL has been the topic of several recent research reports. Scotiabank raised Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, November 2nd. Zacks Investment Research raised Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, September 20th. Desjardins raised Kirkland Lake Gold from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Finally, National Bank Financial reissued an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st.
Kirkland Lake Gold (NYSE:KL) last issued its earnings results on Thursday, November 2nd. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). Kirkland Lake Gold had a return on equity of 10.95% and a net margin of 14.12%. research analysts expect that Kirkland Lake Gold will post 0.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were issued a $0.016 dividend. This represents a $0.06 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, December 28th. Kirkland Lake Gold’s dividend payout ratio (DPR) is 13.33%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. U S Global Investors Inc. bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $19,512,000. Canada Pension Plan Investment Board bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $4,633,000. Magnetar Financial LLC bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $473,000. American Century Companies Inc. bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $11,880,000. Finally, Ninepoint Partners LP bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $15,020,000. 41.45% of the stock is currently owned by institutional investors and hedge funds.
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Kirkland Lake Gold Company Profile
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates five underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria and the Cosmo Mine in Northern Territory, Australia, as well as four milling facilities in Canada and Australia.
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