Mackenzie Financial Corp boosted its position in Kirkland Lake Gold Ltd (NYSE:KL) by 1,099.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,435 shares of the company’s stock after purchasing an additional 345,955 shares during the period. Mackenzie Financial Corp owned about 0.18% of Kirkland Lake Gold worth $7,167,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of KL. Bridgewater Associates LP lifted its position in shares of Kirkland Lake Gold by 7.3% during the second quarter. Bridgewater Associates LP now owns 38,491 shares of the company’s stock worth $815,000 after acquiring an additional 2,632 shares in the last quarter. Chase Investment Counsel Corp lifted its position in shares of Kirkland Lake Gold by 7.0% during the third quarter. Chase Investment Counsel Corp now owns 52,921 shares of the company’s stock worth $1,004,000 after acquiring an additional 3,466 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Kirkland Lake Gold by 23.6% in the third quarter. Wells Fargo & Company MN now owns 28,040 shares of the company’s stock worth $532,000 after buying an additional 5,355 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Kirkland Lake Gold by 1.5% in the third quarter. Russell Investments Group Ltd. now owns 400,887 shares of the company’s stock worth $7,511,000 after buying an additional 5,954 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Kirkland Lake Gold in the second quarter worth $132,000. Institutional investors and hedge funds own 40.45% of the company’s stock.
A number of equities research analysts recently issued reports on KL shares. Desjardins downgraded Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Monday, January 7th. Scotiabank reiterated a “buy” rating and issued a $35.00 price objective on shares of Kirkland Lake Gold in a research report on Wednesday, December 12th. Zacks Investment Research upgraded Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, December 13th. BMO Capital Markets reiterated an “average” rating and issued a $35.00 price objective on shares of Kirkland Lake Gold in a research report on Wednesday, January 9th. Finally, TD Securities reiterated a “buy” rating on shares of Kirkland Lake Gold in a research report on Tuesday, January 8th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.60.
KL traded down $0.51 during trading on Tuesday, reaching $26.50. The stock had a trading volume of 854,396 shares, compared to its average volume of 985,110. The stock has a market cap of $5.56 billion, a PE ratio of 37.32 and a beta of -1.03. The company has a quick ratio of 1.77, a current ratio of 2.00 and a debt-to-equity ratio of 0.01. Kirkland Lake Gold Ltd has a one year low of $13.09 and a one year high of $27.12.
Kirkland Lake Gold (NYSE:KL) last released its earnings results on Tuesday, October 30th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.03). The firm had revenue of $222.70 million during the quarter. Kirkland Lake Gold had a net margin of 25.02% and a return on equity of 20.81%. As a group, equities analysts anticipate that Kirkland Lake Gold Ltd will post 1.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 11th. Investors of record on Monday, December 31st were paid a $0.0299 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, December 28th. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.02. Kirkland Lake Gold’s dividend payout ratio is currently 16.90%.
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About Kirkland Lake Gold
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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