FY2018 EPS Estimates for Kirkland Lake Gold Ltd. (KL) Lowered by Desjardins

Kirkland Lake Gold Ltd. (NYSE:KL) – Equities research analysts at Desjardins dropped their FY2018 earnings per share (EPS) estimates for shares of Kirkland Lake Gold in a research report issued on Wednesday. Desjardins analyst R. Ray now forecasts that the company will post earnings per share of $1.08 for the year, down from their prior estimate of $1.14. Desjardins has a “Buy” rating on the stock. Desjardins also issued estimates for Kirkland Lake Gold’s FY2020 earnings at $1.54 EPS.

A number of other research firms have also weighed in on KL. Scotiabank upgraded Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, November 2nd. Zacks Investment Research upgraded Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, January 3rd. Finally, National Bank Financial restated an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Kirkland Lake Gold currently has an average rating of “Buy” and a consensus target price of $17.00.

Kirkland Lake Gold (NYSE:KL) traded down $0.65 during mid-day trading on Friday, hitting $16.04. The stock had a trading volume of 1,016,500 shares, compared to its average volume of 744,083. Kirkland Lake Gold has a 52 week low of $6.11 and a 52 week high of $16.89. The company has a quick ratio of 1.32, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $3,330.00 and a price-to-earnings ratio of 35.64.

Kirkland Lake Gold (NYSE:KL) last posted its earnings results on Thursday, November 2nd. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.08). Kirkland Lake Gold had a net margin of 14.12% and a return on equity of 10.95%.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were given a dividend of $0.016 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, December 28th. Kirkland Lake Gold’s payout ratio is 13.33%.

Several institutional investors and hedge funds have recently modified their holdings of KL. BNP Paribas Arbitrage SA purchased a new stake in Kirkland Lake Gold in the third quarter worth $158,000. Cubist Systematic Strategies LLC bought a new position in shares of Kirkland Lake Gold in the third quarter worth $199,000. Schroder Investment Management Group bought a new position in shares of Kirkland Lake Gold in the third quarter worth $231,000. Legal & General Group Plc bought a new position in shares of Kirkland Lake Gold in the third quarter worth $360,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Kirkland Lake Gold in the third quarter worth $361,000. 41.45% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Kirkland Lake Gold (NYSE:KL)

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