TD Asset Management Inc. Grows Stock Holdings in Kirkland Lake Gold Ltd (NYSE:KL)

TD Asset Management Inc. grew its holdings in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 25.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,197,731 shares of the company’s stock after purchasing an additional 242,166 shares during the period. TD Asset Management Inc. owned approximately 0.57% of Kirkland Lake Gold worth $51,683,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Optimum Investment Advisors purchased a new position in shares of Kirkland Lake Gold during the 2nd quarter valued at $43,000. Steward Partners Investment Advisory LLC purchased a new stake in Kirkland Lake Gold in the 2nd quarter worth $90,000. Lenox Wealth Management Inc. purchased a new stake in Kirkland Lake Gold in the 2nd quarter worth $161,000. Beutel Goodman & Co Ltd. purchased a new stake in Kirkland Lake Gold in the 1st quarter worth $117,000. Finally, Gulf International Bank UK Ltd purchased a new stake in Kirkland Lake Gold in the 2nd quarter worth $170,000. Hedge funds and other institutional investors own 49.12% of the company’s stock.

Several analysts have commented on KL shares. Royal Bank of Canada reiterated a “buy” rating on shares of Kirkland Lake Gold in a research note on Wednesday, June 26th. Scotiabank downgraded shares of Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating in a report on Wednesday, July 3rd. Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, July 24th. Desjardins reiterated an “average” rating and set a $54.50 price target on shares of Kirkland Lake Gold in a report on Wednesday, July 17th. Finally, ValuEngine downgraded shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $48.21.

KL stock traded up $0.23 during mid-day trading on Thursday, reaching $45.63. The company had a trading volume of 27,003 shares, compared to its average volume of 1,545,018. The stock has a market cap of $9.40 billion, a P/E ratio of 33.61 and a beta of -0.03. The business has a 50 day moving average of $44.32. Kirkland Lake Gold Ltd has a 12 month low of $17.26 and a 12 month high of $49.13.

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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