Shares of Kirkland Lake Gold Ltd (NYSE:KL) have earned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $55.28.
A number of equities research analysts have recently issued reports on KL shares. Zacks Investment Research raised shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, July 24th. Credit Suisse Group started coverage on shares of Kirkland Lake Gold in a report on Monday, October 7th. They issued a “neutral” rating and a $47.00 target price on the stock. CIBC set a $67.00 target price on shares of Kirkland Lake Gold and gave the company a “buy” rating in a report on Wednesday. ValuEngine cut shares of Kirkland Lake Gold from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut shares of Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $54.00 to $72.00 in a report on Thursday, September 5th.
A number of institutional investors have recently added to or reduced their stakes in KL. ARP Americas LP increased its holdings in shares of Kirkland Lake Gold by 1.9% during the second quarter. ARP Americas LP now owns 13,628 shares of the company’s stock worth $587,000 after purchasing an additional 248 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in shares of Kirkland Lake Gold during the second quarter worth approximately $30,000. Optimum Investment Advisors bought a new position in shares of Kirkland Lake Gold during the second quarter worth approximately $43,000. Qtron Investments LLC increased its holdings in shares of Kirkland Lake Gold by 14.1% during the second quarter. Qtron Investments LLC now owns 8,994 shares of the company’s stock worth $388,000 after purchasing an additional 1,110 shares during the period. Finally, Profund Advisors LLC increased its holdings in shares of Kirkland Lake Gold by 5.3% during the second quarter. Profund Advisors LLC now owns 26,366 shares of the company’s stock worth $1,132,000 after purchasing an additional 1,322 shares during the period. 51.52% of the stock is currently owned by hedge funds and other institutional investors.
Kirkland Lake Gold (NYSE:KL) last issued its earnings results on Tuesday, July 30th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $281.27 million for the quarter, compared to analysts’ expectations of $273.55 million. Kirkland Lake Gold had a net margin of 34.59% and a return on equity of 29.11%. As a group, research analysts anticipate that Kirkland Lake Gold will post 2.36 EPS for the current fiscal year.
The business also recently declared a — dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.04 dividend. The ex-dividend date was Friday, September 27th. This represents a yield of 0.4%. Kirkland Lake Gold’s dividend payout ratio is currently 11.76%.
About Kirkland Lake Gold
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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