Paloma Partners Management Co cut its position in Kirkland Lake Gold Ltd (NYSE:KL) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,300 shares of the company’s stock after selling 2,600 shares during the period. Paloma Partners Management Co’s holdings in Kirkland Lake Gold were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in KL. IFP Advisors Inc bought a new stake in shares of Kirkland Lake Gold in the 4th quarter valued at about $25,000. Highstreet Asset Management Inc. grew its position in shares of Kirkland Lake Gold by 12.6% in the 4th quarter. Highstreet Asset Management Inc. now owns 4,090 shares of the company’s stock worth $107,000 after buying an additional 457 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Kirkland Lake Gold in the 4th quarter worth approximately $201,000. D.A. Davidson & CO. purchased a new position in shares of Kirkland Lake Gold in the 4th quarter worth approximately $231,000. Finally, Shepherd Kaplan Krochuk LLC purchased a new position in shares of Kirkland Lake Gold in the 4th quarter worth approximately $248,000. 45.58% of the stock is owned by hedge funds and other institutional investors.
Shares of KL traded down $0.37 during trading hours on Friday, hitting $31.32. The stock had a trading volume of 1,172,850 shares, compared to its average volume of 1,399,758. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.07 and a quick ratio of 1.86. Kirkland Lake Gold Ltd has a fifty-two week low of $15.80 and a fifty-two week high of $36.74. The stock has a market cap of $6.57 billion, a P/E ratio of 23.03 and a beta of -0.38.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a dividend of $0.0299 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 28th. Kirkland Lake Gold’s dividend payout ratio is presently 8.82%.
Several research firms have weighed in on KL. TheStreet raised shares of Kirkland Lake Gold from a “c” rating to an “a+” rating in a research report on Thursday, April 11th. BMO Capital Markets reissued an “average” rating and set a $50.00 target price on shares of Kirkland Lake Gold in a research report on Monday, February 25th. Eight Capital reissued an “average” rating and set a $45.00 target price on shares of Kirkland Lake Gold in a research report on Tuesday, January 15th. CIBC reissued an “average” rating and set a $53.00 target price on shares of Kirkland Lake Gold in a research report on Friday, February 22nd. Finally, Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Friday, February 8th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $43.50.
Kirkland Lake Gold 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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