Fmr LLC lessened its holdings in Kirkland Lake Gold Ltd (NYSE:KL) by 21.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,600,477 shares of the company’s stock after selling 2,294,514 shares during the quarter. Fmr LLC owned 4.10% of Kirkland Lake Gold worth $163,001,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Van ECK Associates Corp raised its stake in shares of Kirkland Lake Gold by 7.4% in the second quarter. Van ECK Associates Corp now owns 27,282,039 shares of the company’s stock worth $577,291,000 after purchasing an additional 1,870,510 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Kirkland Lake Gold in the third quarter worth about $19,551,000. Spark Investment Management LLC raised its stake in shares of Kirkland Lake Gold by 76.3% in the second quarter. Spark Investment Management LLC now owns 975,000 shares of the company’s stock worth $20,667,000 after purchasing an additional 422,000 shares during the last quarter. CIBC World Markets Inc. raised its stake in shares of Kirkland Lake Gold by 153.1% in the second quarter. CIBC World Markets Inc. now owns 532,540 shares of the company’s stock worth $11,247,000 after purchasing an additional 322,103 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Kirkland Lake Gold by 97.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 641,086 shares of the company’s stock worth $12,027,000 after purchasing an additional 315,625 shares during the last quarter. 40.45% of the stock is owned by institutional investors and hedge funds.
KL has been the subject of several research analyst reports. Zacks Investment Research cut Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. ValuEngine upgraded Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research note on Friday, August 17th.
Shares of NYSE:KL opened at $23.37 on Friday. Kirkland Lake Gold Ltd has a 52-week low of $13.03 and a 52-week high of $23.86. The stock has a market capitalization of $4.63 billion, a PE ratio of 32.92 and a beta of -0.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.00 and a quick ratio of 1.77.
Kirkland Lake Gold (NYSE:KL) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.03). Kirkland Lake Gold had a return on equity of 20.81% and a net margin of 25.02%. The firm had revenue of $222.70 million during the quarter. As a group, equities analysts predict that Kirkland Lake Gold Ltd will post 1.15 earnings per share for the current fiscal year.
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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 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.
Further Reading: What is an SEC Filing?
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