Equities Analysts Offer Predictions for Kirkland Lake Gold Ltd.’s FY2021 Earnings (NYSE:KL)

Kirkland Lake Gold Ltd. (NYSE:KL) – Equities researchers at National Bank Financial raised their FY2021 earnings per share (EPS) estimates for shares of Kirkland Lake Gold in a research report issued on Sunday, November 21st. National Bank Financial analyst M. Parkin now expects that the company will post earnings of $3.31 per share for the year, up from their prior forecast of $3.12.

Other equities analysts have also issued research reports about the stock. National Bankshares lowered shares of Kirkland Lake Gold to a “hold” rating and set a $50.00 price objective on the stock. in a report on Thursday, September 30th. Scotiabank dropped their price objective on shares of Kirkland Lake Gold from C$61.00 to C$52.25 and set an “outperform” rating on the stock in a research note on Tuesday, November 2nd. Finally, Royal Bank of Canada restated a “buy” rating and issued a $54.00 target price on shares of Kirkland Lake Gold in a research report on Friday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $62.64.

Shares of NYSE KL opened at $40.81 on Wednesday. Kirkland Lake Gold has a 52-week low of $31.72 and a 52-week high of $46.98. The firm has a fifty day moving average of $43.30 and a 200-day moving average of $41.81. The stock has a market capitalization of $10.76 billion, a PE ratio of 12.33, a P/E/G ratio of 4.40 and a beta of 0.63.

Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings results on Wednesday, November 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.10. The company had revenue of $666.98 million during the quarter, compared to the consensus estimate of $782.31 million. Kirkland Lake Gold had a net margin of 34.70% and a return on equity of 17.70%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS.

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Ocean LLC bought a new stake in Kirkland Lake Gold during the third quarter worth $29,000. IFP Advisors Inc grew 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 buying an additional 330 shares in the last quarter. Captrust Financial Advisors grew its stake in Kirkland Lake Gold by 31.6% during the first quarter. Captrust Financial Advisors now owns 1,171 shares of the company’s stock worth $40,000 after buying an additional 281 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Kirkland Lake Gold by 96.2% in the second quarter. Quadrant Capital Group LLC now owns 1,436 shares of the company’s stock worth $55,000 after acquiring an additional 704 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Kirkland Lake Gold by 42.1% in the third quarter. FinTrust Capital Advisors LLC now owns 2,395 shares of the company’s stock worth $100,000 after acquiring an additional 709 shares during the last quarter. 49.38% of the stock is currently owned by hedge funds and other institutional investors.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 13th. Investors of record on Wednesday, September 29th were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Tuesday, September 28th. This represents a $0.75 dividend on an annualized basis and a yield of 1.84%. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.02. Kirkland Lake Gold’s payout ratio is currently 22.66%.

Kirkland Lake Gold Company Profile

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.

Read More: Why is the ex-dividend date different from the record date?

Earnings History and Estimates for Kirkland Lake Gold (NYSE:KL)

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