Shell Asset Management Co. raised its position in Kirkland Lake Gold Ltd (NYSE:KL) by 121.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 316,658 shares of the company’s stock after acquiring an additional 173,443 shares during the period. Shell Asset Management Co. owned approximately 0.11% of Kirkland Lake Gold worth $9,304,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in KL. Wealthcare Advisory Partners LLC purchased a new position in shares of Kirkland Lake Gold during the fourth quarter valued at approximately $28,000. WASHINGTON TRUST Co purchased a new position in Kirkland Lake Gold in the first quarter worth $29,000. America First Investment Advisors LLC purchased a new position in Kirkland Lake Gold in the first quarter worth $30,000. Spectrum Management Group LLC purchased a new position in Kirkland Lake Gold in the first quarter worth $31,000. Finally, Valeo Financial Advisors LLC boosted its position in Kirkland Lake Gold by 47.3% in the first quarter. Valeo Financial Advisors LLC now owns 987 shares of the company’s stock worth $34,000 after purchasing an additional 317 shares during the last quarter. 45.85% of the stock is owned by hedge funds and other institutional investors.
Shares of KL traded down $0.41 during mid-day trading on Friday, hitting $38.61. The stock had a trading volume of 1,592,726 shares, compared to its average volume of 2,221,529. The firm has a market cap of $10.82 billion, a P/E ratio of 13.36, a PEG ratio of 4.36 and a beta of 0.90. The business has a fifty day moving average price of $38.74 and a 200-day moving average price of $39.34. Kirkland Lake Gold Ltd has a 52 week low of $18.02 and a 52 week high of $51.08.
Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.12). Kirkland Lake Gold had a net margin of 40.05% and a return on equity of 28.04%. The company had revenue of $554.74 million for the quarter, compared to the consensus estimate of $759.84 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was up 81.9% compared to the same quarter last year. As a group, research analysts predict that Kirkland Lake Gold Ltd will post 2.98 earnings per share for the current year.
KL has been the topic of several research analyst reports. Bank of America initiated coverage on Kirkland Lake Gold in a research report on Tuesday, April 7th. They issued a “buy” rating and a $42.00 price objective on the stock. Canaccord Genuity raised Kirkland Lake Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, March 24th. ValuEngine cut Kirkland Lake Gold from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Scotiabank raised Kirkland Lake Gold to a “buy” rating and set a $56.00 price objective on the stock in a research report on Tuesday, March 17th. Finally, Stifel Nicolaus began coverage on Kirkland Lake Gold in a research report on Tuesday, February 11th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.45.
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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