Toronto Dominion Bank lifted its stake in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 1.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 503,410 shares of the company’s stock after acquiring an additional 7,310 shares during the period. Toronto Dominion Bank’s holdings in Kirkland Lake Gold were worth $15,305,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in Kirkland Lake Gold by 31.7% in the first quarter. Bank of Montreal Can now owns 3,183,803 shares of the company’s stock valued at $96,820,000 after buying an additional 766,461 shares during the period. Toth Financial Advisory Corp raised its holdings in Kirkland Lake Gold by 26,000.0% in the fourth 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 during the period. Penserra Capital Management LLC purchased a new position in Kirkland Lake Gold in the fourth quarter valued at approximately $11,819,000. Sigma Planning Corp grew its position in Kirkland Lake Gold by 81.0% in the fourth quarter. Sigma Planning Corp now owns 29,613 shares of the company’s stock valued at $773,000 after acquiring an additional 13,250 shares in the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new stake in Kirkland Lake Gold in the fourth quarter valued at approximately $271,000. Institutional investors and hedge funds own 47.28% of the company’s stock.
NYSE:KL traded up $0.21 during trading hours on Friday, hitting $33.52. The stock had a trading volume of 25,572 shares, compared to its average volume of 1,370,442. Kirkland Lake Gold Ltd has a 1-year low of $17.26 and a 1-year 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 company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 24.43 and a beta of -0.36.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.36%. This is an increase from Kirkland Lake Gold’s previous quarterly dividend of $0.03. Kirkland Lake Gold’s dividend payout ratio (DPR) is presently 8.82%.
Several brokerages have issued reports on KL. ValuEngine downgraded shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research downgraded shares of Kirkland Lake Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. TheStreet raised shares of Kirkland Lake Gold from a “c” rating to an “a+” rating in a research report on Thursday, April 11th. Canaccord Genuity began coverage on shares of Kirkland Lake Gold in a research report on Tuesday, January 22nd. They issued a “buy” rating for the company. Finally, Roth Capital increased their price objective 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. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $43.50.
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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