Brokerages Set Kirkland Lake Gold Ltd (KL) Target Price at $45.20

Shares of Kirkland Lake Gold Ltd (NYSE:KL) have received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $45.20.

KL has been the subject of a number of recent analyst reports. Eight Capital restated an “average” rating and set a $45.00 price target on shares of Kirkland Lake Gold in a report on Tuesday, January 15th. BMO Capital Markets restated an “average” rating and set a $35.00 price target on shares of Kirkland Lake Gold in a report on Wednesday, January 9th. CIBC restated an “average” rating and set a $53.00 price target on shares of Kirkland Lake Gold in a report on Friday, February 22nd. Scotiabank restated a “buy” rating and set a $35.00 price target on shares of Kirkland Lake Gold in a report on Wednesday, December 12th. Finally, Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, February 8th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Kirkland Lake Gold by 455.1% in the fourth quarter. Geode Capital Management LLC now owns 74,283 shares of the company’s stock valued at $1,936,000 after buying an additional 60,900 shares during the period. Norges Bank bought a new stake in shares of Kirkland Lake Gold in the fourth quarter valued at about $76,164,000. FMR LLC lifted its stake in shares of Kirkland Lake Gold by 38.0% in the fourth quarter. FMR LLC now owns 11,869,427 shares of the company’s stock valued at $309,516,000 after buying an additional 3,268,950 shares during the period. APG Asset Management N.V. lifted its stake in shares of Kirkland Lake Gold by 21.0% in the fourth quarter. APG Asset Management N.V. now owns 1,132,000 shares of the company’s stock valued at $25,811,000 after buying an additional 196,200 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of Kirkland Lake Gold in the fourth quarter valued at about $87,000. Institutional investors and hedge funds own 45.40% of the company’s stock.

Kirkland Lake Gold stock traded down $0.37 during mid-day trading on Friday, hitting $30.41. 1,598,053 shares of the company’s stock were exchanged, compared to its average volume of 1,520,068. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.07 and a quick ratio of 1.86. The company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 22.36 and a beta of -0.31. Kirkland Lake Gold has a 1-year low of $14.86 and a 1-year high of $36.74.

Kirkland Lake Gold (NYSE:KL) last posted its earnings results on Thursday, February 21st. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.12. The firm had revenue of $280.32 million for the quarter, compared to the consensus estimate of $282.18 million. Kirkland Lake Gold had a net margin of 30.32% and a return on equity of 23.51%. As a group, sell-side analysts anticipate that Kirkland Lake Gold will post 2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.0299 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Thursday, March 28th. Kirkland Lake Gold’s dividend payout ratio (DPR) is 8.82%.

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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Analyst Recommendations for Kirkland Lake Gold (NYSE:KL)

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