Kirkland Lake Gold (KL) Reaches New 12-Month High at $26.82

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Shares of Kirkland Lake Gold Ltd (NYSE:KL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.82 and last traded at $26.76, with a volume of 46212 shares traded. The stock had previously closed at $25.92.

Several analysts recently issued reports on KL shares. Desjardins lowered shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Monday. Scotiabank restated a “buy” rating and issued a $35.00 target price on shares of Kirkland Lake Gold in a research report on Wednesday, December 12th. BMO Capital Markets restated a “hold” rating and issued a $32.50 target price on shares of Kirkland Lake Gold in a research report on Wednesday, December 12th. Zacks Investment Research lowered shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Saturday, December 15th. Finally, Roth Capital started coverage on shares of Kirkland Lake Gold in a research report on Thursday, January 3rd. They issued a “buy” rating and a $31.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $32.00.

The company has a current ratio of 2.00, a quick ratio of 1.77 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 37.54 and a beta of -1.03.

Kirkland Lake Gold (NYSE:KL) last issued its earnings results on Tuesday, October 30th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). Kirkland Lake Gold had a net margin of 25.02% and a return on equity of 20.81%. The company had revenue of $222.70 million during the quarter. As a group, equities research analysts forecast that Kirkland Lake Gold Ltd will post 1.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Monday, December 31st will be given a $0.0299 dividend. The ex-dividend date is Friday, December 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. This is a positive change from Kirkland Lake Gold’s previous quarterly dividend of $0.02. Kirkland Lake Gold’s dividend payout ratio (DPR) is currently 16.90%.

Several hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its stake in shares of Kirkland Lake Gold by 10.3% during the third quarter. Neuberger Berman Group LLC now owns 18,256 shares of the company’s stock valued at $346,000 after acquiring an additional 1,712 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Kirkland Lake Gold by 5.2% during the third quarter. Legal & General Group Plc now owns 40,122 shares of the company’s stock valued at $760,000 after acquiring an additional 1,998 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Kirkland Lake Gold by 4.2% during the third quarter. Vanguard Group Inc now owns 4,583,689 shares of the company’s stock valued at $87,044,000 after acquiring an additional 183,922 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Kirkland Lake Gold during the third quarter valued at $1,337,000. Finally, Marshall Wace LLP bought a new position in shares of Kirkland Lake Gold during the third quarter valued at $6,886,000. 40.45% of the stock is owned by hedge funds and other institutional investors.

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Kirkland Lake Gold Company Profile (NYSE:KL)

Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria, Australia, as well as three milling facilities in Canada and Australia.

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