SG Americas Securities LLC reduced its holdings in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 43.9% during the second quarter, HoldingsChannel.com reports. The fund owned 21,821 shares of the company’s stock after selling 17,084 shares during the quarter. SG Americas Securities LLC’s holdings in Kirkland Lake Gold were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of KL. WASHINGTON TRUST Co bought a new stake in shares of Kirkland Lake Gold in the first quarter valued at $29,000. America First Investment Advisors LLC bought a new stake in shares of Kirkland Lake Gold in the first quarter valued at $30,000. Spectrum Management Group LLC bought a new stake in shares of Kirkland Lake Gold in the first quarter valued at $31,000. Valeo Financial Advisors LLC raised its stake in shares of Kirkland Lake Gold by 47.3% in the first quarter. Valeo Financial Advisors LLC now owns 987 shares of the company’s stock valued at $34,000 after buying an additional 317 shares during the period. Finally, Quadrant Capital Group LLC bought a new stake in shares of Kirkland Lake Gold in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 51.04% of the company’s stock.
Kirkland Lake Gold stock opened at $54.60 on Friday. Kirkland Lake Gold Ltd has a 52 week low of $18.02 and a 52 week high of $54.74. The business has a 50-day simple moving average of $42.78 and a 200 day simple moving average of $38.55. The stock has a market cap of $15.14 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 5.04 and a beta of 0.84.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Tuesday, June 30th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.92%. This is a boost from Kirkland Lake Gold’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Monday, June 29th. Kirkland Lake Gold’s payout ratio is presently 18.25%.
Several analysts have issued reports on the company. TD Securities boosted their target price on Kirkland Lake Gold from $76.00 to $84.00 and gave the company a “buy” rating in a research note on Friday. CIBC lifted their price target on Kirkland Lake Gold from $75.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday. Scotiabank lifted their price target on Kirkland Lake Gold from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. BMO Capital Markets upgraded Kirkland Lake Gold from a “market perform” rating to an “outperform” rating in a research report on Friday, May 29th. Finally, National Bank Financial cut Kirkland Lake Gold from an “outperform spec under weight” rating to a “sector perform spec overwgt” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Kirkland Lake Gold currently has an average rating of “Buy” and an average price target of $56.10.
About Kirkland Lake Gold
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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