Kirkland Lake Gold (TSE:KL) Hits New 52-Week High at $52.87

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Kirkland Lake Gold Ltd (TSE:KL) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$52.87 and last traded at C$52.17, with a volume of 176457 shares trading hands. The stock had previously closed at C$51.54.

Several research firms recently weighed in on KL. National Bank Financial lifted their price target on Kirkland Lake Gold from C$48.00 to C$59.00 and gave the company an “outperform” rating in a research report on Friday, February 22nd. TD Securities lowered Kirkland Lake Gold from a “buy” rating to a “hold” rating and lifted their price target for the company from C$52.00 to C$55.00 in a research report on Friday, February 22nd. Eight Capital lowered Kirkland Lake Gold from a “buy” rating to a “neutral” rating and lifted their price target for the company from C$46.00 to C$51.25 in a research report on Friday, February 22nd. Desjardins lifted their price target on Kirkland Lake Gold from C$39.00 to C$48.00 in a research report on Friday, February 22nd. Finally, CIBC lifted their price target on Kirkland Lake Gold from C$48.00 to C$53.00 in a research report on Friday, February 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$50.53.

The firm has a market cap of $10.82 billion and a PE ratio of 33.28. The company has a quick ratio of 1.86, a current ratio of 2.08 and a debt-to-equity ratio of 1.61.

Kirkland Lake Gold (TSE:KL) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.01. The business had revenue of C$405.40 million for the quarter, compared to the consensus estimate of C$385.90 million. As a group, equities analysts predict that Kirkland Lake Gold Ltd will post 2.2699999 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Thursday, June 27th. Kirkland Lake Gold’s dividend payout ratio (DPR) is presently 6.67%.

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Kirkland Lake Gold Company Profile (TSE:KL)

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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