Allianz Asset Management GmbH lowered its position in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 10.0% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 127,263 shares of the company’s stock after selling 14,216 shares during the quarter. Allianz Asset Management GmbH owned about 0.06% of Kirkland Lake Gold worth $5,495,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of KL. ARP Americas LP lifted its holdings in shares of Kirkland Lake Gold by 1.9% in the 2nd quarter. ARP Americas LP now owns 13,628 shares of the company’s stock valued at $587,000 after buying an additional 248 shares during the period. Shell Asset Management Co. increased its stake in Kirkland Lake Gold by 2.5% during the 1st quarter. Shell Asset Management Co. now owns 15,620 shares of the company’s stock worth $475,000 after buying an additional 379 shares in the last quarter. Optimum Investment Advisors purchased a new stake in shares of Kirkland Lake Gold in the second quarter valued at approximately $43,000. Patriot Financial Group Insurance Agency LLC acquired a new position in Kirkland Lake Gold in the second quarter valued at approximately $65,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Kirkland Lake Gold in the second quarter valued at approximately $90,000. 51.54% of the stock is owned by institutional investors.
A number of research analysts have commented on the company. Scotiabank cut Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, July 3rd. ValuEngine lowered Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Roth Capital upped their price objective on Kirkland Lake Gold from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Zacks Investment Research raised Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $54.00 to $72.00 in a report on Thursday, September 5th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Kirkland Lake Gold has an average rating of “Hold” and an average price target of $51.81.
Shares of NYSE:KL opened at $44.06 on Friday. The company has a 50-day moving average price of $46.40 and a 200 day moving average price of $38.52. Kirkland Lake Gold Ltd has a 52 week low of $17.26 and a 52 week high of $51.08. The company has a market cap of $9.36 billion, a P/E ratio of 32.40 and a beta of -0.10.
Kirkland Lake Gold (NYSE:KL) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Kirkland Lake Gold had a net margin of 34.59% and a return on equity of 29.11%. The business had revenue of $281.27 million during the quarter, compared to analysts’ expectations of $273.55 million. As a group, analysts predict that Kirkland Lake Gold Ltd will post 2.38 earnings per share for the current fiscal year.
The company also recently announced a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.04 dividend. The ex-dividend date is Friday, September 27th. This represents a yield of 0.4%. Kirkland Lake Gold’s payout ratio is currently 11.76%.
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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