Kirkland Lake Gold Ltd (NYSE:KL) shares reached a new 52-week high on Friday . The stock traded as high as $21.27 and last traded at $21.12, with a volume of 631623 shares changing hands. The stock had previously closed at $20.38.
Separately, Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Wednesday, June 20th. Four research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $22.00.
The firm has a market cap of $4.31 billion and a price-to-earnings ratio of 29.75. The company has a current ratio of 2.71, a quick ratio of 2.37 and a debt-to-equity ratio of 0.02.
Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings results on Wednesday, May 2nd. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $198.24 million during the quarter. Kirkland Lake Gold had a net margin of 22.27% and a return on equity of 16.86%. equities research analysts expect that Kirkland Lake Gold Ltd will post 1.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be issued a $0.023 dividend. This represents a $0.09 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Thursday, June 28th. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.02. Kirkland Lake Gold’s dividend payout ratio is 8.45%.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Kirkland Lake Gold in the fourth quarter worth $229,000. Swiss National Bank raised its position in Kirkland Lake Gold by 1.4% during the fourth quarter. Swiss National Bank now owns 303,285 shares of the company’s stock worth $4,653,000 after acquiring an additional 4,200 shares in the last quarter. State of Tennessee Treasury Department bought a new stake in Kirkland Lake Gold during the first quarter worth $2,170,000. UBS Asset Management Americas Inc. raised its position in Kirkland Lake Gold by 11.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 236,058 shares of the company’s stock worth $3,631,000 after acquiring an additional 23,436 shares in the last quarter. Finally, Scotia Capital Inc. raised its position in Kirkland Lake Gold by 4.8% during the fourth quarter. Scotia Capital Inc. now owns 202,048 shares of the company’s stock worth $3,097,000 after acquiring an additional 9,232 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.
Kirkland Lake Gold Company Profile
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria, Australia, as well as three milling facilities in Canada and Australia.
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