Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 222.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 405,465 shares of the company’s stock after purchasing an additional 279,689 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 0.19% of Kirkland Lake Gold worth $12,330,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Trexquant Investment LP acquired a new stake in Kirkland Lake Gold in the first quarter valued at $1,093,000. U S Global Investors Inc. raised its stake in shares of Kirkland Lake Gold by 215.3% during the 1st quarter. U S Global Investors Inc. now owns 54,780 shares of the company’s stock worth $1,666,000 after buying an additional 37,407 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Kirkland Lake Gold by 15.6% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 52,000 shares of the company’s stock worth $1,581,000 after buying an additional 7,000 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Kirkland Lake Gold during the 1st quarter worth $5,365,000. Finally, State of Tennessee Treasury Department raised its stake in shares of Kirkland Lake Gold by 10.2% during the 1st quarter. State of Tennessee Treasury Department now owns 137,363 shares of the company’s stock worth $4,197,000 after buying an additional 12,755 shares during the last quarter. 47.63% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. TD Securities downgraded Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Roth Capital lifted their price objective on Kirkland Lake Gold from $31.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, February 22nd. Scotiabank cut Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating in a research report on Monday, February 25th. BMO Capital Markets reiterated an “average” rating and set a $50.00 price objective on shares of Kirkland Lake Gold in a research report on Monday, February 25th. Finally, GMP Securities cut Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $43.50.
Kirkland Lake Gold stock opened at $38.41 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 1.89 and a debt-to-equity ratio of 0.01. The stock has a market cap of $8.01 billion, a PE ratio of 23.41 and a beta of -0.34. The stock’s 50-day moving average is $34.49. Kirkland Lake Gold Ltd has a 52 week low of $17.26 and a 52 week high of $39.76.
Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. Kirkland Lake Gold had a return on equity of 27.33% and a net margin of 32.67%. The company had revenue of $304.91 million during the quarter, compared to analysts’ expectations of $386.33 million. During the same quarter in the previous year, the business earned $0.23 EPS. The firm’s revenue was up 53.8% on a year-over-year basis. Equities research analysts predict that Kirkland Lake Gold Ltd will post 2.07 EPS 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 $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.31%. This is a positive change from Kirkland Lake Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, June 27th. Kirkland Lake Gold’s dividend payout ratio is presently 8.82%.
WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2019/06/18/gilder-gagnon-howe-co-llc-raises-stake-in-kirkland-lake-gold-ltd-nysekl.html.
Kirkland Lake Gold 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.
See Also: Why is the ROA ratio important?
Want to see what other hedge funds are holding KL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kirkland Lake Gold Ltd (NYSE:KL).
Receive News & Ratings for Kirkland Lake Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirkland Lake Gold and related companies with MarketBeat.com's FREE daily email newsletter.