Kirkland Lake Gold (NYSE:KL) Sees Large Volume Increase

Shares of Kirkland Lake Gold Ltd. (NYSE:KL) saw an uptick in trading volume on Monday . 121,569 shares traded hands during trading, a decline of 93% from the previous session’s volume of 1,755,179 shares.The stock last traded at $45.75 and had previously closed at $42.57.

Several equities research analysts have weighed in on the company. Royal Bank of Canada reissued a “buy” rating and set a $54.00 price objective on shares of Kirkland Lake Gold in a research note on Friday, September 3rd. Zacks Investment Research raised Kirkland Lake Gold from a “sell” rating to a “hold” rating and set a $42.00 target price on the stock in a research report on Tuesday, June 22nd. Finally, National Bank Financial cut their price target on Kirkland Lake Gold from C$57.00 to C$56.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Kirkland Lake Gold currently has an average rating of “Buy” and an average price target of $65.00.

The stock has a market capitalization of $11.94 billion, a PE ratio of 14.94, a PEG ratio of 4.46 and a beta of 0.69. The business’s 50-day moving average is $40.69 and its two-hundred day moving average is $39.63.

Kirkland Lake Gold (NYSE:KL) last announced its earnings results on Wednesday, July 28th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. Kirkland Lake Gold had a net margin of 33.08% and a return on equity of 18.19%. The business had revenue of $662.74 million during the quarter, compared to analysts’ expectations of $662.80 million. Research analysts anticipate that Kirkland Lake Gold Ltd. will post 3.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 13th. Stockholders of record on Wednesday, September 29th will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.66%. This is a positive change from Kirkland Lake Gold’s previous quarterly dividend of $0.02. The ex-dividend date is Tuesday, September 28th. Kirkland Lake Gold’s payout ratio is 21.99%.

A number of institutional investors and hedge funds have recently modified their holdings of KL. Captrust Financial Advisors grew its position in shares of Kirkland Lake Gold by 31.6% in the first quarter. Captrust Financial Advisors now owns 1,171 shares of the company’s stock valued at $40,000 after purchasing an additional 281 shares during the last quarter. IFP Advisors Inc raised its stake in Kirkland Lake Gold by 45.8% during the second quarter. IFP Advisors Inc now owns 1,050 shares of the company’s stock worth $41,000 after purchasing an additional 330 shares during the period. Quadrant Capital Group LLC raised its stake in Kirkland Lake Gold by 96.2% during the second quarter. Quadrant Capital Group LLC now owns 1,436 shares of the company’s stock worth $55,000 after purchasing an additional 704 shares during the period. Ameritas Investment Company LLC purchased a new position in Kirkland Lake Gold during the first quarter worth approximately $60,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Kirkland Lake Gold by 78.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,158 shares of the company’s stock worth $73,000 after purchasing an additional 949 shares during the period. Institutional investors own 49.26% of the company’s stock.

Kirkland Lake Gold Company Profile (NYSE:KL)

Kirkland Lake Gold Ltd. engages in the mining, development, and exploration of gold properties. The firms projects include Holt Mine, Macassa Mine, and Detour Lake MIne. The company was founded on June 29, 1983 and is headquartered in Toronto, Canada.

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