Lenox Wealth Management Inc. increased its position in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 68.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,325 shares of the company’s stock after acquiring an additional 2,568 shares during the period. Lenox Wealth Management Inc.’s holdings in Kirkland Lake Gold were worth $283,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of KL. Bank of Nova Scotia acquired a new position in Kirkland Lake Gold during the second quarter worth $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in Kirkland Lake Gold during the second quarter worth $30,000. Optimum Investment Advisors acquired a new position in Kirkland Lake Gold during the second quarter worth $43,000. Bartlett & Co. LLC acquired a new position in Kirkland Lake Gold during the third quarter worth $59,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in Kirkland Lake Gold during the second quarter worth $65,000. 51.53% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on KL shares. National Bank Financial reduced their price objective on Kirkland Lake Gold from $71.00 to $70.00 and set a “sector perform” rating for the company in a report on Monday, October 21st. CIBC set a $67.00 price objective on Kirkland Lake Gold and gave the stock a “buy” rating in a report on Wednesday, October 9th. Credit Suisse Group assumed coverage on Kirkland Lake Gold in a report on Monday, October 7th. They set a “neutral” rating and a $47.00 price objective for the company. TD Securities raised their price target on Kirkland Lake Gold from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, ValuEngine downgraded Kirkland Lake Gold from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. Kirkland Lake Gold currently has an average rating of “Hold” and a consensus price target of $57.23.
Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $381.43 million during the quarter, compared to the consensus estimate of $375.14 million. Kirkland Lake Gold had a return on equity of 29.11% and a net margin of 34.59%. Kirkland Lake Gold’s revenue was up 71.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. Analysts forecast that Kirkland Lake Gold Ltd will post 2.63 EPS for the current year.
The firm also recently disclosed a — dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.04 dividend. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, September 27th. Kirkland Lake Gold’s dividend payout ratio is currently 11.76%.
Kirkland Lake Gold 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.
Featured Article: Understanding Compound Annual Growth Rate (CAGR)
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).
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.