Kirkland Lake Gold (KL) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Kirkland Lake Gold (NYSE:KL) from a buy rating to a sell rating in a report published on Tuesday morning.

According to Zacks, “Kirkland Lake Gold Ltd. engages in the provision of mining and mineral exploration. It focuses on gold assets primarily in Macassa Mine Complex, the Taylor Mine located in northeastern Ontario and the Fosterville Gold Mine located in the state of Victoria, Australia. Kirkland Lake Gold Ltd. is headquartered in Toronto, Canada. “

KL has been the subject of a number of other research reports. Scotiabank upgraded shares of Kirkland Lake Gold from a sector perform rating to an outperform rating in a research report on Thursday, November 2nd. Desjardins upgraded shares of Kirkland Lake Gold from a hold rating to a buy rating in a research report on Monday, November 27th. Finally, National Bank Financial restated an outperform market weight rating on shares of Kirkland Lake Gold in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $17.00.

Kirkland Lake Gold (NYSE KL) opened at $15.93 on Tuesday. The firm has a market cap of $3,329.22 and a P/E ratio of 36.20. Kirkland Lake Gold has a 12-month low of $6.11 and a 12-month high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.32.

Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.08). Kirkland Lake Gold had a return on equity of 10.95% and a net margin of 14.12%. sell-side analysts anticipate that Kirkland Lake Gold will post 0.65 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were given a dividend of $0.016 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.40%. Kirkland Lake Gold’s dividend payout ratio is 13.64%.

Large investors have recently modified their holdings of the stock. U S Global Investors Inc. bought a new position in shares of Kirkland Lake Gold during the third quarter worth $19,512,000. Canada Pension Plan Investment Board bought a new position in shares of Kirkland Lake Gold during the third quarter worth $4,633,000. Magnetar Financial LLC bought a new position in shares of Kirkland Lake Gold during the third quarter worth $473,000. American Century Companies Inc. bought a new position in shares of Kirkland Lake Gold during the third quarter worth $11,880,000. Finally, Ninepoint Partners LP bought a new position in shares of Kirkland Lake Gold during the third quarter worth $15,020,000. Hedge funds and other institutional investors own 41.45% of the company’s stock.

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About Kirkland Lake Gold

Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates five underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria and the Cosmo Mine in Northern Territory, Australia, as well as four milling facilities in Canada and Australia.

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