Kirkland Lake Gold (KL) Shares Up 8.3%

Kirkland Lake Gold Ltd. (NYSE:KL) shares shot up 8.3% during trading on Wednesday . The company traded as high as $15.99 and last traded at $15.37. 1,867,814 shares changed hands during trading, an increase of 131% from the average session volume of 807,143 shares. The stock had previously closed at $14.19.

A number of research firms have recently commented on KL. Zacks Investment Research raised shares of Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Desjardins raised shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating in a research note on Monday, November 27th. Finally, Scotiabank raised shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.00.

The company has a current ratio of 1.59, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3,084.30 and a P/E ratio of 34.93.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter valued at about $158,000. Cubist Systematic Strategies LLC acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter valued at about $199,000. Gotham Asset Management LLC acquired a new position in shares of Kirkland Lake Gold during the 4th quarter valued at about $222,000. SG Americas Securities LLC acquired a new position in shares of Kirkland Lake Gold during the 4th quarter valued at about $229,000. Finally, Schroder Investment Management Group acquired a new position in shares of Kirkland Lake Gold during the 3rd quarter valued at about $231,000. 42.68% of the stock is owned by institutional investors.

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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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