Kirkland Lake Gold (NYSE:KL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Shares of KL stock opened at $22.04 on Wednesday. Kirkland Lake Gold has a 52-week low of $8.59 and a 52-week high of $22.27. The company has a quick ratio of 2.37, a current ratio of 2.71 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $4.59 billion and a price-to-earnings ratio of 24.13.
Kirkland Lake Gold (NYSE:KL) last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. Kirkland Lake Gold had a net margin of 22.27% and a return on equity of 16.86%. The business had revenue of $198.24 million during the quarter. equities analysts expect that Kirkland Lake Gold will post 1.11 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in Kirkland Lake Gold by 1,058.8% in the 1st quarter. Barclays PLC now owns 11,009 shares of the company’s stock worth $171,000 after purchasing an additional 10,059 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Kirkland Lake Gold in the 1st quarter worth about $215,000. Gotham Asset Management LLC bought a new stake in Kirkland Lake Gold in the 4th quarter worth about $222,000. Bayesian Capital Management LP bought a new stake in Kirkland Lake Gold in the 1st quarter worth about $241,000. Finally, BlackRock Inc. purchased a new position in Kirkland Lake Gold in the first quarter valued at about $264,000. 41.85% of the stock is owned by institutional investors and hedge funds.
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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