Kirkland Lake Gold Ltd. (NYSE:KL) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Kirkland Lake Gold Ltd. (NYSE:KL) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 921,852 shares of the company’s stock after acquiring an additional 63,793 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.34% of Kirkland Lake Gold worth $45,088,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Flagship Harbor Advisors LLC grew its stake in Kirkland Lake Gold by 30.5% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 966 shares of the company’s stock valued at $47,000 after acquiring an additional 226 shares during the period. National Asset Management Inc. raised its position in Kirkland Lake Gold by 0.5% during the third quarter. National Asset Management Inc. now owns 45,383 shares of the company’s stock worth $2,212,000 after acquiring an additional 230 shares during the period. Natixis Advisors L.P. raised its position in Kirkland Lake Gold by 2.1% during the second quarter. Natixis Advisors L.P. now owns 11,118 shares of the company’s stock worth $459,000 after acquiring an additional 231 shares during the period. Blair William & Co. IL raised its position in Kirkland Lake Gold by 1.9% during the second quarter. Blair William & Co. IL now owns 12,462 shares of the company’s stock worth $514,000 after acquiring an additional 234 shares during the period. Finally, Corbett Road Capital Management LLC raised its position in Kirkland Lake Gold by 3.8% during the third quarter. Corbett Road Capital Management LLC now owns 6,971 shares of the company’s stock worth $340,000 after acquiring an additional 255 shares during the period. 46.41% of the stock is owned by institutional investors.

Shares of KL opened at $40.51 on Friday. Kirkland Lake Gold Ltd. has a 12-month low of $18.02 and a 12-month high of $57.69. The firm has a 50-day moving average price of $44.90 and a 200 day moving average price of $46.07. The firm has a market capitalization of $11.14 billion, a P/E ratio of 14.26, a P/E/G ratio of 3.90 and a beta of 0.95.

Kirkland Lake Gold (NYSE:KL) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.01). Kirkland Lake Gold had a net margin of 33.21% and a return on equity of 21.03%. The firm had revenue of $632.80 million during the quarter, compared to analysts’ expectations of $835.88 million. During the same period in the prior year, the company posted $0.84 EPS. The company’s revenue for the quarter was up 65.9% compared to the same quarter last year. As a group, equities analysts anticipate that Kirkland Lake Gold Ltd. will post 3.39 EPS for the current year.

A number of equities analysts have weighed in on KL shares. Bank of America reduced 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. ValuEngine cut shares of Kirkland Lake Gold from a “hold” rating to a “sell” rating in a research report on Wednesday, November 11th. Royal Bank of Canada restated a “buy” rating and set a $63.00 price objective on shares of Kirkland Lake Gold in a research report on Tuesday, August 11th. CIBC upped their target price on shares of Kirkland Lake Gold from $81.00 to $95.50 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Finally, TD Securities dropped their target price on shares of Kirkland Lake Gold from $89.00 to $84.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $68.00.

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

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