Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 2,699 Shares of Kirkland Lake Gold Ltd (NYSE:KL)

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Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its stake in Kirkland Lake Gold Ltd (NYSE:KL) by 11.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,721 shares of the company’s stock after selling 2,699 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Kirkland Lake Gold were worth $940,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in KL. Amundi Pioneer Asset Management Inc. lifted its position in Kirkland Lake Gold by 15.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 408,400 shares of the company’s stock valued at $12,420,000 after acquiring an additional 54,500 shares in the last quarter. Vanguard Group Inc. lifted its position in Kirkland Lake Gold by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,591,103 shares of the company’s stock valued at $239,971,000 after acquiring an additional 722,097 shares in the last quarter. Pictet Asset Management Ltd. bought a new position in Kirkland Lake Gold in the 2nd quarter valued at approximately $2,954,000. Cambridge Investment Research Advisors Inc. lifted its position in Kirkland Lake Gold by 64.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 33,549 shares of the company’s stock valued at $1,440,000 after acquiring an additional 13,144 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in Kirkland Lake Gold by 41.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,465 shares of the company’s stock valued at $234,000 after acquiring an additional 1,602 shares in the last quarter. 52.59% of the stock is currently owned by institutional investors and hedge funds.

NYSE KL opened at $41.10 on Wednesday. The business’s fifty day moving average price is $43.16 and its 200-day moving average price is $44.92. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 18.02 and a beta of -0.23. Kirkland Lake Gold Ltd has a 1-year low of $29.15 and a 1-year high of $51.08.

Kirkland Lake Gold (NYSE:KL) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $381.43 million for the quarter, compared to analysts’ expectations of $375.14 million. Kirkland Lake Gold had a return on equity of 35.18% and a net margin of 39.86%. The company’s revenue was up 71.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. As a group, analysts expect that Kirkland Lake Gold Ltd will post 2.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.58%. This is a positive change from Kirkland Lake Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, December 30th. Kirkland Lake Gold’s dividend payout ratio is 17.65%.

Several research firms recently issued reports on KL. Roth Capital cut Kirkland Lake Gold from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research report on Thursday, October 10th. Zacks Investment Research cut Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Saturday, January 4th. CIBC reissued a “hold” rating and set a $60.00 price target on shares of Kirkland Lake Gold in a report on Sunday, January 12th. ValuEngine cut Kirkland Lake Gold from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Credit Suisse Group began coverage on Kirkland Lake Gold in a report on Monday, October 7th. They set a “neutral” rating and a $47.00 price target on the stock. Two research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $55.31.

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

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