Allianz Asset Management GmbH Invests $5.19 Million in Kirkland Lake Gold Ltd. (KL)
Allianz Asset Management GmbH purchased a new stake in Kirkland Lake Gold Ltd. (NYSE:KL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 403,346 shares of the company’s stock, valued at approximately $5,186,000. Allianz Asset Management GmbH owned approximately 0.19% of Kirkland Lake Gold at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Kirkland Lake Gold in the third quarter valued at approximately $795,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Kirkland Lake Gold in the third quarter valued at approximately $17,982,000. Investec Asset Management LTD acquired a new stake in shares of Kirkland Lake Gold in the third quarter valued at approximately $4,900,000. Schroder Investment Management Group acquired a new stake in shares of Kirkland Lake Gold in the third quarter valued at approximately $231,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Kirkland Lake Gold in the third quarter valued at approximately $5,391,000. 41.45% of the stock is owned by institutional investors and hedge funds.
Shares of Kirkland Lake Gold Ltd. (KL) opened at $14.58 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. Kirkland Lake Gold Ltd. has a fifty-two week low of $4.74 and a fifty-two week high of $15.19. The company has a market cap of $2,968.07 and a price-to-earnings ratio of 24.66.
A number of analysts recently weighed in on the stock. Desjardins raised shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating in a report on Monday, November 27th. Zacks Investment Research lowered shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Scotiabank raised shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, November 2nd. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Kirkland Lake Gold in a report on Thursday, September 7th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $16.00.
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Kirkland Lake Gold Profile
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates five underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria and the Cosmo Mine in Northern Territory, Australia, as well as four milling facilities in Canada and Australia.
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