Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Buys 286,900 Shares of Kirkland Lake Gold Ltd (KL)

Share on StockTwits

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in Kirkland Lake Gold Ltd (NYSE:KL) by 14.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,230,000 shares of the company’s stock after buying an additional 286,900 shares during the quarter. Kirkland Lake Gold makes up 0.9% of Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s portfolio, making the stock its 22nd biggest position. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Kirkland Lake Gold were worth $79,388,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KL. Hilltop Holdings Inc. purchased a new position in shares of Kirkland Lake Gold during the fourth quarter valued at approximately $800,000. Two Sigma Advisers LP boosted its position in shares of Kirkland Lake Gold by 26.8% during the fourth quarter. Two Sigma Advisers LP now owns 961,897 shares of the company’s stock valued at $25,104,000 after buying an additional 203,400 shares during the period. Two Sigma Investments LP boosted its position in shares of Kirkland Lake Gold by 147.5% during the fourth quarter. Two Sigma Investments LP now owns 1,209,944 shares of the company’s stock valued at $31,580,000 after buying an additional 721,028 shares during the period. Maven Securities LTD purchased a new position in shares of Kirkland Lake Gold during the fourth quarter valued at approximately $247,000. Finally, Delek Group Ltd. purchased a new position in shares of Kirkland Lake Gold during the fourth quarter valued at approximately $4,022,000. Institutional investors own 44.01% of the company’s stock.

Several brokerages have issued reports on KL. TD Securities lowered Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Roth Capital boosted their target price on Kirkland Lake Gold from $31.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, February 22nd. BMO Capital Markets restated an “average” rating and set a $50.00 target price on shares of Kirkland Lake Gold in a research report on Monday, February 25th. Scotiabank lowered Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating in a research report on Monday, February 25th. Finally, GMP Securities downgraded shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.50.

Kirkland Lake Gold stock opened at $32.77 on Tuesday. The company has a quick ratio of 1.86, a current ratio of 2.07 and a debt-to-equity ratio of 0.01. Kirkland Lake Gold Ltd has a fifty-two week low of $14.56 and a fifty-two week high of $36.74. The company has a market cap of $7.02 billion, a PE ratio of 24.10 and a beta of -0.31.

Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings results on Thursday, February 21st. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.12. Kirkland Lake Gold had a net margin of 30.32% and a return on equity of 23.51%. The firm had revenue of $280.32 million during the quarter, compared to the consensus estimate of $282.18 million. On average, sell-side analysts predict that Kirkland Lake Gold Ltd will post 2 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be paid a $0.0299 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, March 28th. Kirkland Lake Gold’s dividend payout ratio (DPR) is 8.82%.

COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Highlight Press and is the sole property of of Highlight Press. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://highlightpress.com/2019/03/19/her-majesty-the-queen-in-right-of-the-province-of-alberta-as-represented-by-alberta-investment-management-corp-buys-286900-shares-of-kirkland-lake-gold-ltd-kl.html.

Kirkland Lake Gold Company Profile

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.

See Also: What are Bollinger Bands?

Want to see what other hedge funds are holding KL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kirkland Lake Gold Ltd (NYSE:KL).

Institutional Ownership by Quarter for Kirkland Lake Gold (NYSE:KL)

Receive News & Ratings for Kirkland Lake Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirkland Lake Gold and related companies with MarketBeat.com's FREE daily email newsletter.