Roth Capital set a $48.00 target price on Kirkland Lake Gold (NYSE:KL) in a report issued on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
Several other research analysts also recently commented on the stock. National Bank Financial downgraded shares of Kirkland Lake Gold from an outperform overweight rating to a sector perform overweight rating in a research note on Monday, May 27th. Royal Bank of Canada restated an underperform rating and issued a GBX 215 ($2.81) target price on shares of in a report on Wednesday, June 26th. ValuEngine upgraded shares of Xylem from a hold rating to a buy rating in a report on Friday, June 21st. Scotiabank cut shares of Kirkland Lake Gold from an outperform rating to a sector perform rating in a report on Wednesday, July 3rd. Finally, Zacks Investment Research cut shares of GenMark Diagnostics from a hold rating to a sell rating in a report on Wednesday, April 24th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $44.67.
Shares of KL stock traded down $0.33 during trading hours on Thursday, hitting $42.13. 20,555 shares of the company’s stock were exchanged, compared to its average volume of 1,517,914. The stock has a market capitalization of $8.82 billion, a P/E ratio of 30.95 and a beta of -0.02. Kirkland Lake Gold has a 12-month low of $17.26 and a 12-month high of $44.04. The stock has a 50 day simple moving average of $38.79. The company has a quick ratio of 1.89, a current ratio of 2.08 and a debt-to-equity ratio of 0.01.
Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $304.91 million for the quarter, compared to the consensus estimate of $386.33 million. Kirkland Lake Gold had a net margin of 32.67% and a return on equity of 27.33%. The business’s revenue was up 53.8% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, sell-side analysts anticipate that Kirkland Lake Gold will post 2.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.03 dividend. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, June 27th. This represents a $0.12 annualized dividend and a dividend yield of 0.28%. Kirkland Lake Gold’s dividend payout ratio (DPR) is currently 11.76%.
Several institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in shares of Kirkland Lake Gold by 13.2% in the first quarter. FMR LLC now owns 13,435,610 shares of the company’s stock worth $408,593,000 after purchasing an additional 1,566,183 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kirkland Lake Gold by 30.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,187,834 shares of the company’s stock valued at $157,815,000 after acquiring an additional 1,210,933 shares in the last quarter. Bank of Montreal Can boosted its holdings in Kirkland Lake Gold by 31.7% in the first quarter. Bank of Montreal Can now owns 3,183,803 shares of the company’s stock valued at $96,820,000 after acquiring an additional 766,461 shares in the last quarter. Norges Bank bought a new stake in Kirkland Lake Gold in the fourth quarter valued at $76,164,000. Finally, Deutsche Bank AG boosted its holdings in Kirkland Lake Gold by 25.1% in the fourth quarter. Deutsche Bank AG now owns 2,908,668 shares of the company’s stock valued at $75,886,000 after acquiring an additional 582,676 shares in the last quarter. Hedge funds and other institutional investors own 47.63% of the company’s stock.
Kirkland Lake Gold Company Profile
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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