Raymond James & Associates Increases Stake in Kirkland Lake Gold Ltd (NYSE:KL)

Raymond James & Associates boosted its stake in Kirkland Lake Gold Ltd (NYSE:KL) by 44.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,548 shares of the company’s stock after purchasing an additional 25,234 shares during the quarter. Raymond James & Associates’ holdings in Kirkland Lake Gold were worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in KL. Investec Asset Management LTD raised its stake in Kirkland Lake Gold by 91.2% in the fourth quarter. Investec Asset Management LTD now owns 2,142,719 shares of the company’s stock valued at $55,851,000 after purchasing an additional 1,021,870 shares in the last quarter. Deutsche Bank AG raised its stake in Kirkland Lake Gold by 62.3% in the third quarter. Deutsche Bank AG now owns 2,325,992 shares of the company’s stock valued at $44,168,000 after purchasing an additional 892,624 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Kirkland Lake Gold by 30.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,494,572 shares of the company’s stock valued at $47,244,000 after purchasing an additional 588,384 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Kirkland Lake Gold by 98.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,111,676 shares of the company’s stock worth $21,054,000 after acquiring an additional 550,200 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new position in shares of Kirkland Lake Gold during the fourth quarter worth approximately $11,819,000. 45.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE KL traded up $0.15 during mid-day trading on Monday, hitting $31.77. The stock had a trading volume of 898,100 shares, compared to its average volume of 1,303,451. The company has a quick ratio of 1.86, a current ratio of 2.07 and a debt-to-equity ratio of 0.01. Kirkland Lake Gold Ltd has a 1 year low of $15.80 and a 1 year high of $36.74. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 23.53 and a beta of -0.38.

Kirkland Lake Gold (NYSE:KL) last issued its earnings results on Thursday, February 21st. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.40 by $0.12. Kirkland Lake Gold had a net margin of 30.32% and a return on equity of 23.51%. The company had revenue of $280.32 million for the quarter, compared to the consensus estimate of $282.18 million. Equities research analysts anticipate that Kirkland Lake Gold Ltd will post 1.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a $0.0299 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Thursday, March 28th. Kirkland Lake Gold’s payout ratio is 8.82%.

Several research analysts have commented on KL shares. Roth Capital started coverage on shares of Kirkland Lake Gold in a research note on Thursday, January 3rd. They set a “buy” rating and a $31.00 price target on the stock. Desjardins downgraded shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. TD Securities reissued a “buy” rating on shares of Kirkland Lake Gold in a research note on Tuesday, January 8th. BMO Capital Markets reissued an “average” rating and set a $35.00 price target on shares of Kirkland Lake Gold in a research note on Wednesday, January 9th. Finally, Eight Capital reissued an “average” rating and set a $45.00 price target on shares of Kirkland Lake Gold in a research note on Tuesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.50.

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Kirkland Lake Gold Company Profile

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located in Victoria, Australia, as well as three milling facilities in Canada and Australia.

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Institutional Ownership by Quarter for Kirkland Lake Gold (NYSE:KL)

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