Kirkland Lake Gold Ltd (NYSE:KL) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $47.25.
KL has been the subject of a number of research analyst reports. National Bank Financial cut Kirkland Lake Gold from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Monday, May 27th. BMO Capital Markets restated an “average” rating and set a $50.00 price objective on shares of Kirkland Lake Gold in a report on Monday, February 25th. TD Securities cut Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Scotiabank cut Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating in a report on Monday, February 25th. Finally, TheStreet upgraded Kirkland Lake Gold from a “c” rating to an “a+” rating in a report on Thursday, April 11th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KL. IFP Advisors Inc acquired a new stake in shares of Kirkland Lake Gold in the fourth quarter valued at approximately $25,000. Coastal Investment Advisors Inc. acquired a new stake in shares of Kirkland Lake Gold in the first quarter valued at approximately $42,000. First Hawaiian Bank acquired a new stake in shares of Kirkland Lake Gold in the first quarter valued at approximately $58,000. Premia Global Advisors LLC acquired a new stake in shares of Kirkland Lake Gold in the first quarter valued at approximately $80,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Kirkland Lake Gold in the fourth quarter valued at approximately $87,000. Institutional investors own 47.63% of the company’s stock.
Kirkland Lake Gold (NYSE:KL) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $0.23 earnings per share. The business’s revenue was up 53.8% on a year-over-year basis. As a group, sell-side analysts predict that Kirkland Lake Gold will post 2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders 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 0.32%. This is an increase from Kirkland Lake Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Thursday, June 27th. Kirkland Lake Gold’s payout ratio is presently 8.82%.
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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