Kirkland Lake Gold Ltd (KL) Short Interest Update

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Kirkland Lake Gold Ltd (NYSE:KL) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,119,606 shares, an increase of 53.3% from the August 15th total of 2,034,445 shares. Based on an average daily trading volume, of 1,236,703 shares, the short-interest ratio is presently 2.5 days.

Hedge funds have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in Kirkland Lake Gold by 7.4% during the second quarter. Van ECK Associates Corp now owns 27,282,039 shares of the company’s stock valued at $577,291,000 after purchasing an additional 1,870,510 shares during the last quarter. FMR LLC boosted its position in Kirkland Lake Gold by 48.7% during the second quarter. FMR LLC now owns 10,894,991 shares of the company’s stock valued at $230,720,000 after purchasing an additional 3,568,968 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in Kirkland Lake Gold by 6.9% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,579,400 shares of the company’s stock valued at $99,651,000 after purchasing an additional 231,400 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Kirkland Lake Gold by 2.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,906,188 shares of the company’s stock valued at $40,342,000 after purchasing an additional 48,200 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in Kirkland Lake Gold by 10.7% during the first quarter. Fiera Capital Corp now owns 1,351,394 shares of the company’s stock valued at $20,917,000 after purchasing an additional 130,731 shares during the last quarter. Institutional investors and hedge funds own 42.69% of the company’s stock.

Several analysts recently issued reports on the company. ValuEngine raised Kirkland Lake Gold from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research downgraded Kirkland Lake Gold from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Finally, BMO Capital Markets downgraded Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $22.00.

Shares of KL stock traded up $0.08 during mid-day trading on Friday, hitting $21.14. 1,018,717 shares of the stock traded hands, compared to its average volume of 927,148. Kirkland Lake Gold has a twelve month low of $11.52 and a twelve month high of $23.86. The stock has a market cap of $3.99 billion, a PE ratio of 29.77 and a beta of -0.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.74.

Kirkland Lake Gold (NYSE:KL) last issued its earnings results on Wednesday, August 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The company had revenue of $214.65 million during the quarter. Kirkland Lake Gold had a return on equity of 18.54% and a net margin of 24.94%. Equities research analysts predict that Kirkland Lake Gold will post 1.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were issued a dividend of $0.023 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 0.43%. Kirkland Lake Gold’s dividend payout ratio is 12.68%.

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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