Kirkland Lake Gold Ltd (KL) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 30.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,187,834 shares of the company’s stock after buying an additional 1,210,933 shares during the quarter. Kirkland Lake Gold makes up 1.0% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 22nd largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kirkland Lake Gold were worth $157,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of Kirkland Lake Gold by 303.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 114,237 shares of the company’s stock worth $2,169,000 after buying an additional 85,954 shares in the last quarter. Vanguard Group Inc. grew its stake in Kirkland Lake Gold by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,583,689 shares of the company’s stock valued at $87,044,000 after buying an additional 183,922 shares in the last quarter. Legal & General Group Plc grew its stake in Kirkland Lake Gold by 5.2% in the 3rd quarter. Legal & General Group Plc now owns 40,122 shares of the company’s stock valued at $760,000 after buying an additional 1,998 shares in the last quarter. Toth Financial Advisory Corp grew its stake in Kirkland Lake Gold by 26,000.0% in the 4th quarter. Toth Financial Advisory Corp now owns 26,100 shares of the company’s stock valued at $681,000 after buying an additional 26,000 shares in the last quarter. Finally, Midas Management Corp purchased a new position in Kirkland Lake Gold in the 4th quarter valued at approximately $378,000. Institutional investors own 47.28% of the company’s stock.

NYSE KL opened at $34.22 on Wednesday. Kirkland Lake Gold Ltd has a 52-week low of $17.26 and a 52-week high of $36.74. The company has a quick ratio of 1.89, a current ratio of 2.08 and a debt-to-equity ratio of 0.01. The firm has a market cap of $6.97 billion, a PE ratio of 25.16 and a beta of -0.36.

Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Kirkland Lake Gold had a net margin of 32.67% and a return on equity of 27.33%. The company had revenue of $304.91 million during the quarter, compared to the consensus estimate of $386.33 million. During the same period in the previous year, the firm posted $0.23 EPS. The firm’s revenue was up 53.8% compared to the same quarter last year. On average, equities analysts expect that Kirkland Lake Gold Ltd will post 2.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.03 per share. This is an increase from Kirkland Lake Gold’s previous quarterly dividend of $0.03. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Thursday, June 27th. Kirkland Lake Gold’s payout ratio is currently 8.82%.

A number of research firms have recently commented on KL. TheStreet upgraded shares of Kirkland Lake Gold from a “c” rating to an “a+” rating in a research report on Thursday, April 11th. BMO Capital Markets restated an “average” rating and set a $50.00 price target on shares of Kirkland Lake Gold in a research report on Monday, February 25th. CIBC restated an “average” rating and set a $53.00 price target on shares of Kirkland Lake Gold in a research report on Friday, February 22nd. Roth Capital boosted their price target on shares of Kirkland Lake Gold from $31.00 to $41.00 and gave the company a “buy” rating 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 target for the company in a research report on Friday, February 8th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $43.50.

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About Kirkland Lake Gold

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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