Kirkland Lake Gold Ltd (NYSE:KL) Shares Sold by Advisor Group Inc.

Advisor Group Inc. reduced its stake in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 20.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,443 shares of the company’s stock after selling 9,527 shares during the quarter. Advisor Group Inc.’s holdings in Kirkland Lake Gold were worth $1,108,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ARP Americas LP grew its holdings in shares of Kirkland Lake Gold by 7.0% in the 1st quarter. ARP Americas LP now owns 13,380 shares of the company’s stock worth $407,000 after purchasing an additional 880 shares during the last quarter. Shell Asset Management Co. grew its holdings in shares of Kirkland Lake Gold by 2.5% in the 1st quarter. Shell Asset Management Co. now owns 15,620 shares of the company’s stock worth $475,000 after purchasing an additional 379 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Kirkland Lake Gold by 15.7% in the 1st quarter. Penserra Capital Management LLC now owns 524,276 shares of the company’s stock worth $16,944,000 after purchasing an additional 71,264 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Kirkland Lake Gold by 30.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,187,834 shares of the company’s stock worth $157,815,000 after purchasing an additional 1,210,933 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in shares of Kirkland Lake Gold by 6.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 53,325 shares of the company’s stock worth $1,617,000 after purchasing an additional 3,124 shares during the last quarter. Hedge funds and other institutional investors own 47.63% of the company’s stock.

Shares of NYSE KL opened at $38.93 on Thursday. The stock has a market cap of $8.14 billion, a P/E ratio of 28.63 and a beta of -0.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.89 and a current ratio of 2.08. Kirkland Lake Gold Ltd has a 12-month low of $17.26 and a 12-month high of $39.76.

Kirkland Lake Gold (NYSE:KL) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $304.91 million for the quarter, compared to the consensus estimate of $386.33 million. Kirkland Lake Gold had a net margin of 32.67% and a return on equity of 27.33%. The firm’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, sell-side analysts forecast that Kirkland Lake Gold Ltd will post 2.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, June 27th. This is an increase from Kirkland Lake Gold’s previous quarterly dividend of $0.03. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. Kirkland Lake Gold’s dividend payout ratio is presently 8.82%.

Several research analysts recently issued reports on KL shares. National Bank Financial downgraded shares of Kirkland Lake Gold from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Monday, May 27th. Zacks Investment Research downgraded shares of Kirkland Lake Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. TheStreet upgraded shares of Kirkland Lake Gold from a “c” rating to an “a+” rating in a research report on Thursday, April 11th. Scotiabank upgraded shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, ValuEngine downgraded shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.50.

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Kirkland Lake Gold Company Profile

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located in Victoria, Australia, as well as three milling facilities in Canada and Australia.

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Institutional Ownership by Quarter for Kirkland Lake Gold (NYSE:KL)

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