Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Kirkland Lake Gold Ltd (NYSE:KL) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,013,745 shares of the company’s stock after purchasing an additional 104,029 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.48% of Kirkland Lake Gold worth $45,438,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of KL. Bank of Nova Scotia bought a new stake in shares of Kirkland Lake Gold during the second quarter worth $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Kirkland Lake Gold during the second quarter worth $30,000. Optimum Investment Advisors bought a new stake in shares of Kirkland Lake Gold during the second quarter worth $43,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Kirkland Lake Gold during the second quarter worth $65,000. Finally, Valeo Financial Advisors LLC raised its position in shares of Kirkland Lake Gold by 115.2% during the third quarter. Valeo Financial Advisors LLC now owns 1,775 shares of the company’s stock worth $80,000 after acquiring an additional 950 shares during the last quarter. Hedge funds and other institutional investors own 51.53% of the company’s stock.
Shares of Kirkland Lake Gold stock opened at $46.32 on Friday. Kirkland Lake Gold Ltd has a 12 month low of $18.12 and a 12 month high of $51.08. The business has a fifty day simple moving average of $45.83 and a 200 day simple moving average of $41.99. The stock has a market cap of $9.54 billion, a PE ratio of 34.06 and a beta of -0.14.
Kirkland Lake Gold (NYSE:KL) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Kirkland Lake Gold had a return on equity of 29.11% and a net margin of 34.59%. The business had revenue of $381.43 million during the quarter, compared to analysts’ expectations of $375.14 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up 71.3% compared to the same quarter last year. As a group, research analysts predict that Kirkland Lake Gold Ltd will post 2.63 earnings per share for the current fiscal year.
The business also recently disclosed a — dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 0.4%. Kirkland Lake Gold’s dividend payout ratio (DPR) is presently 11.76%.
A number of equities research analysts have recently weighed in on the company. ValuEngine downgraded Kirkland Lake Gold from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Roth Capital downgraded Kirkland Lake Gold from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Thursday, October 10th. CIBC set a $67.00 target price on Kirkland Lake Gold and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Credit Suisse Group assumed coverage on Kirkland Lake Gold in a research report on Monday, October 7th. They set a “neutral” rating and a $47.00 target price for the company. Finally, National Bank Financial dropped their target price on Kirkland Lake Gold from $71.00 to $70.00 and set a “sector perform” rating for the company in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.75.
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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