Bank of America Corp DE boosted its holdings in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 25.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 591,169 shares of the company’s stock after buying an additional 121,638 shares during the period. Bank of America Corp DE owned approximately 0.28% of Kirkland Lake Gold worth $12,485,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of KL. FMR LLC boosted its stake in Kirkland Lake Gold by 48.7% during the second quarter. FMR LLC now owns 10,894,991 shares of the company’s stock valued at $230,720,000 after buying an additional 3,568,968 shares during the period. Van ECK Associates Corp boosted its stake in Kirkland Lake Gold by 7.4% during the second quarter. Van ECK Associates Corp now owns 27,282,039 shares of the company’s stock valued at $577,291,000 after buying an additional 1,870,510 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Kirkland Lake Gold by 116.6% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,348,000 shares of the company’s stock valued at $66,860,000 after buying an additional 1,802,400 shares during the period. Spark Investment Management LLC boosted its stake in Kirkland Lake Gold by 76.3% during the second quarter. Spark Investment Management LLC now owns 975,000 shares of the company’s stock valued at $20,667,000 after buying an additional 422,000 shares during the period. Finally, Hexavest Inc. bought a new stake in Kirkland Lake Gold during the second quarter valued at $7,725,000. 42.69% of the stock is owned by institutional investors.
NYSE KL opened at $21.14 on Friday. Kirkland Lake Gold Ltd has a twelve month low of $11.52 and a twelve month high of $23.86. The company has a current ratio of 2.74, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 29.73 and a beta of -0.53.
Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). Kirkland Lake Gold had a net margin of 24.94% and a return on equity of 18.54%. The firm had revenue of $214.65 million for the quarter. On average, analysts predict that Kirkland Lake Gold Ltd will post 1.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $0.023 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.09 dividend on an annualized basis and a yield of 0.43%. Kirkland Lake Gold’s payout ratio is 12.68%.
A number of research firms have weighed in on KL. Zacks Investment Research upgraded Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, June 20th. BMO Capital Markets downgraded Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 18th. Finally, ValuEngine downgraded Kirkland Lake Gold from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.00.
Kirkland Lake Gold Company Profile
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria, Australia, as well as three milling facilities in Canada and Australia.
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