Intercontinental Wealth Advisors LLC Takes Position in Kirkland Lake Gold Ltd (NYSE:KL)

Intercontinental Wealth Advisors LLC acquired a new stake in Kirkland Lake Gold Ltd (NYSE:KL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,294 shares of the company’s stock, valued at approximately $401,000.

Several other large investors also recently modified their holdings of KL. BlackRock Inc. grew its position in shares of Kirkland Lake Gold by 4.6% in the 4th quarter. BlackRock Inc. now owns 98,181 shares of the company’s stock worth $2,562,000 after acquiring an additional 4,309 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Kirkland Lake Gold by 455.1% in the 4th quarter. Geode Capital Management LLC now owns 74,283 shares of the company’s stock worth $1,936,000 after acquiring an additional 60,900 shares in the last quarter. Legal & General Group Plc grew its position in shares of Kirkland Lake Gold by 37.9% in the 4th quarter. Legal & General Group Plc now owns 55,333 shares of the company’s stock worth $1,442,000 after acquiring an additional 15,211 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Kirkland Lake Gold in the 1st quarter worth approximately $443,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of Kirkland Lake Gold by 42.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 17,482 shares of the company’s stock worth $532,000 after acquiring an additional 5,232 shares in the last quarter. Institutional investors and hedge funds own 49.12% of the company’s stock.

Shares of NYSE KL traded down $0.85 during mid-day trading on Friday, hitting $44.25. The company had a trading volume of 98,364 shares, compared to its average volume of 1,577,936. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 32.16 and a beta of -0.03. Kirkland Lake Gold Ltd has a 12 month low of $17.26 and a 12 month high of $49.13. The firm’s 50 day simple moving average is $44.37 and its two-hundred day simple moving average is $36.70.



Several analysts recently issued reports on the company. National Bank Financial downgraded Kirkland Lake Gold from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Monday, May 27th. Desjardins reissued an “average” rating and issued a $54.50 price target on shares of Kirkland Lake Gold in a report on Wednesday, July 17th. Zacks Investment Research raised 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. Royal Bank of Canada reissued a “buy” rating on shares of Kirkland Lake Gold in a report on Wednesday, June 26th. Finally, Roth Capital set a $48.00 price target on Kirkland Lake Gold and gave the stock a “buy” rating in a report on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.21.

Kirkland Lake Gold 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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Institutional Ownership by Quarter for Kirkland Lake Gold (NYSE:KL)

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