Kirkland Lake Gold (NYSE:KL) PT Set at $48.00 by Roth Capital

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Roth Capital set a $48.00 target price on Kirkland Lake Gold (NYSE:KL) in a research report report published on Thursday morning, The Fly reports. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. National Bank Financial downgraded Kirkland Lake Gold from an outperform overweight rating to a sector perform overweight rating in a research report on Monday, May 27th. Scotiabank downgraded Kirkland Lake Gold from an outperform rating to a sector perform rating in a research report on Wednesday, July 3rd. Zacks Investment Research downgraded GenMark Diagnostics from a hold rating to a sell rating in a research report on Wednesday, April 24th. Royal Bank of Canada reiterated an underperform rating and set a GBX 215 ($2.81) price target on shares of in a research report on Wednesday, June 26th. Finally, TheStreet downgraded Vince from a c- rating to a d rating in a research report on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $44.67.

Shares of KL opened at $42.92 on Thursday. Kirkland Lake Gold has a 52 week low of $17.26 and a 52 week high of $44.04. The company has a quick ratio of 1.89, a current ratio of 2.08 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $9.01 billion, a P/E ratio of 26.33 and a beta of -0.02. The business has a 50-day moving average of $38.96.

Kirkland Lake Gold (NYSE:KL) last issued its quarterly earnings results 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. The company had revenue of $304.91 million for the quarter, compared to the consensus estimate of $386.33 million. Kirkland Lake Gold had a return on equity of 27.33% and a net margin of 32.67%. Kirkland Lake Gold’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 earnings per share. Equities research analysts expect that Kirkland Lake Gold will post 2.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.28%. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.03. Kirkland Lake Gold’s dividend payout ratio is presently 11.76%.

Several institutional investors have recently made changes to their positions in the business. Shell Asset Management Co. raised its holdings in shares of Kirkland Lake Gold by 2.5% during the first quarter. Shell Asset Management Co. now owns 15,620 shares of the company’s stock valued at $475,000 after acquiring an additional 379 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of Kirkland Lake Gold by 7.3% during the fourth quarter. Gotham Asset Management LLC now owns 12,738 shares of the company’s stock valued at $332,000 after acquiring an additional 867 shares during the last quarter. ARP Americas LP raised its holdings in shares of Kirkland Lake Gold by 7.0% during the first quarter. ARP Americas LP now owns 13,380 shares of the company’s stock valued at $407,000 after acquiring an additional 880 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Kirkland Lake Gold during the first quarter valued at approximately $58,000. Finally, Swiss National Bank increased its holdings in shares of Kirkland Lake Gold by 0.7% in the first quarter. Swiss National Bank now owns 345,685 shares of the company’s stock valued at $10,516,000 after purchasing an additional 2,300 shares during the last quarter. 47.63% of the stock is owned by institutional investors and hedge funds.

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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