Guild Investment Management Inc. Invests $740,000 in Kirkland Lake Gold Ltd (NYSE:KL)

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Guild Investment Management Inc. acquired a new position in shares of Kirkland Lake Gold Ltd (NYSE:KL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,230 shares of the company’s stock, valued at approximately $740,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in Kirkland Lake Gold by 13.2% in the first quarter. FMR LLC now owns 13,435,610 shares of the company’s stock worth $408,593,000 after purchasing an additional 1,566,183 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Kirkland Lake Gold by 30.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,187,834 shares of the company’s stock worth $157,815,000 after purchasing an additional 1,210,933 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Kirkland Lake Gold in the second quarter worth approximately $39,201,000. Scout Investments Inc. acquired a new stake in Kirkland Lake Gold in the first quarter worth approximately $25,092,000. Finally, Bank of Montreal Can lifted its position 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 worth $96,820,000 after purchasing an additional 766,461 shares during the period. Institutional investors and hedge funds own 48.18% of the company’s stock.

Shares of NYSE:KL opened at $47.29 on Friday. The firm’s fifty day moving average price is $43.78. Kirkland Lake Gold Ltd has a 12-month low of $17.26 and a 12-month high of $49.13. The firm has a market cap of $9.83 billion, a P/E ratio of 34.77 and a beta of -0.03.

Kirkland Lake Gold (NYSE:KL) last announced its earnings results on Tuesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Kirkland Lake Gold had a net margin of 34.59% and a return on equity of 29.11%. The company had revenue of $304.91 million for the quarter, compared to the consensus estimate of $386.33 million. During the same period in the previous year, the business earned $0.23 EPS. The company’s revenue was up 53.8% on a year-over-year basis. As a group, equities analysts anticipate that Kirkland Lake Gold Ltd will post 2.22 earnings per share for the current fiscal year.

A number of research firms have weighed in on KL. Desjardins restated an “average” rating and issued a $54.50 target price on shares of Kirkland Lake Gold in a research report on Wednesday, July 17th. Royal Bank of Canada reiterated a “buy” rating on shares of Kirkland Lake Gold in a research report on Wednesday, June 26th. National Bank Financial downgraded Kirkland Lake Gold from an “outperform overweight” rating to a “sector perform overweight” rating in a research report on Monday, May 27th. TheStreet upgraded Kirkland Lake Gold from a “c” rating to an “a+” rating in a research report on Thursday, April 11th. Finally, Roth Capital set a $48.00 price objective on Kirkland Lake Gold and gave the company a “buy” rating in a research report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently 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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