Desjardins Analysts Boost Earnings Estimates for Kirkland Lake Gold Ltd. (KL)

Kirkland Lake Gold Ltd. (NYSE:KL) – Equities research analysts at Desjardins increased their FY2019 earnings per share estimates for shares of Kirkland Lake Gold in a research note issued on Wednesday. Desjardins analyst R. Ray now anticipates that the company will post earnings of $1.42 per share for the year, up from their prior forecast of $1.31. Desjardins has a “Buy” rating on the stock. Desjardins also issued estimates for Kirkland Lake Gold’s FY2021 earnings at $1.48 EPS.

Kirkland Lake Gold (NYSE:KL) last released its quarterly 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 net margin of 14.12% and a return on equity of 10.95%.

Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, January 3rd. Scotiabank upgraded shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $17.00.

Kirkland Lake Gold (NYSE KL) traded down $0.11 during mid-day trading on Monday, reaching $15.93. 632,400 shares of the company traded hands, compared to its average volume of 735,492. Kirkland Lake Gold has a 1 year low of $6.21 and a 1 year high of $16.89. The stock has a market cap of $3,310.00 and a P/E ratio of 35.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.59.

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

Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth $199,000. U S Global Investors Inc. acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth $19,512,000. Jane Street Group LLC acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth $3,826,000. Magnetar Financial LLC acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth $473,000. Finally, Royce & Associates LP acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter worth $1,993,000. Institutional investors own 41.40% of the company’s stock.

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About Kirkland Lake Gold

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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