Bennicas & Associates Inc. increased its position in Kirkland Lake Gold Ltd. (NYSE:KL) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,310 shares of the company’s stock after buying an additional 1,200 shares during the period. Kirkland Lake Gold accounts for approximately 1.4% of Bennicas & Associates Inc.’s investment portfolio, making the stock its 21st biggest holding. Bennicas & Associates Inc.’s holdings in Kirkland Lake Gold were worth $2,208,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of KL. BDO Wealth Advisors LLC bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $25,000. Flagship Harbor Advisors LLC bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $30,000. Larson Financial Group LLC bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $36,000. Captrust Financial Advisors bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $38,000. Finally, Red Door Wealth Management LLC bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $37,000. Institutional investors own 49.81% of the company’s stock.
Several equities analysts have commented on KL shares. ValuEngine raised shares of Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research report on Monday, August 3rd. TD Securities lifted their target price on shares of Kirkland Lake Gold from $76.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Royal Bank of Canada reissued a “buy” rating and set a $63.00 target price on shares of Kirkland Lake Gold in a research report on Tuesday, August 11th. Zacks Investment Research cut shares of Kirkland Lake Gold from a “strong-buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research report on Wednesday, July 8th. Finally, National Bank Financial cut shares of Kirkland Lake Gold from an “outperform spec under weight” rating to a “sector perform spec overwgt” rating in a research report on Thursday, July 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $63.67.
Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. Kirkland Lake Gold had a net margin of 36.22% and a return on equity of 24.32%. The company had revenue of $580.98 million for the quarter, compared to analysts’ expectations of $566.08 million. As a group, sell-side analysts anticipate that Kirkland Lake Gold Ltd. will post 3.3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 30th were paid a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $0.50 dividend on an annualized basis and a yield of 1.00%. Kirkland Lake Gold’s dividend payout ratio is 18.25%.
About Kirkland Lake Gold
Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. The company's principal properties include the Fosterville Mine located in the State of Victoria, Australia; and Macassa Mine situated in the Municipality of Kirkland Lake, Ontario, Canada.
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