Nwam LLC boosted its holdings in shares of Kirkland Lake Gold Ltd. (NYSE:KL) by 261.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,452 shares of the company’s stock after purchasing an additional 19,126 shares during the quarter. Nwam LLC’s holdings in Kirkland Lake Gold were worth $1,289,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. BDO Wealth Advisors LLC purchased a new stake in Kirkland Lake Gold during the second quarter valued at $25,000. Flagship Harbor Advisors LLC bought a new position in shares of Kirkland Lake Gold in the second quarter worth about $30,000. Larson Financial Group LLC bought a new position in Kirkland Lake Gold during the 2nd quarter worth about $36,000. Captrust Financial Advisors bought a new position in Kirkland Lake Gold during the 2nd quarter worth about $38,000. Finally, Red Door Wealth Management LLC bought a new position in Kirkland Lake Gold during the 2nd quarter worth about $37,000. 49.81% of the stock is currently owned by institutional investors.
Several analysts have commented on the stock. TD Securities increased their price target on shares of Kirkland Lake Gold from $76.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, July 31st. CIBC increased their price target on shares of Kirkland Lake Gold from $81.00 to $95.50 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Royal Bank of Canada reissued a “buy” rating and set a $63.00 price target on shares of Kirkland Lake Gold in a research report on Tuesday, August 11th. Bank of America decreased their price objective on shares of Kirkland Lake Gold from $64.75 to $62.50 and set a “buy” rating for the company in a research report on Thursday, October 8th. Finally, Scotiabank increased their price objective on shares of Kirkland Lake Gold from $64.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.67.
Shares of NYSE KL traded down $0.88 during midday trading on Friday, reaching $49.84. 997,317 shares of the stock were exchanged, compared to its average volume of 2,107,282. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 5.18 and a beta of 0.92. Kirkland Lake Gold Ltd. has a twelve month low of $18.02 and a twelve month high of $57.69. The firm has a 50-day simple moving average of $50.91 and a two-hundred day simple moving average of $44.50.
Kirkland Lake Gold (NYSE:KL) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. The business had revenue of $580.98 million for the quarter, compared to analysts’ expectations of $566.08 million. Kirkland Lake Gold had a net margin of 36.22% and a return on equity of 24.32%. On average, analysts forecast that Kirkland Lake Gold Ltd. will post 3.3 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.125 per share. The ex-dividend date was Tuesday, September 29th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.00%. Kirkland Lake Gold’s payout ratio is 18.25%.
Kirkland Lake Gold Profile
Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. The company's principal properties include the Fosterville Mine located in the State of Victoria, Australia; and Macassa Mine situated in the Municipality of Kirkland Lake, Ontario, Canada.
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