Kirkland Lake Gold Ltd. (KL) to Post FY2019 Earnings of $0.96 Per Share, National Bank Financial Forecasts
Kirkland Lake Gold Ltd. (NYSE:KL) – Equities researchers at National Bank Financial raised their FY2019 EPS estimates for shares of Kirkland Lake Gold in a research report issued to clients and investors on Thursday. National Bank Financial analyst M. Parkin now anticipates that the company will post earnings of $0.96 per share for the year, up from their previous estimate of $0.92. National Bank Financial currently has a “Outperform Market Weight” rating on the stock. National Bank Financial also issued estimates for Kirkland Lake Gold’s FY2020 earnings at $1.07 EPS.
A number of other research firms also recently issued reports on KL. Scotiabank raised shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research note on Thursday. Zacks Investment Research raised shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Wednesday, September 20th. Desjardins assumed coverage on shares of Kirkland Lake Gold in a research note on Friday, September 29th. They set a “buy” rating for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Kirkland Lake Gold in a research note on Thursday, September 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.00.
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Shares of Kirkland Lake Gold (NYSE:KL) traded up $0.51 during trading hours on Monday, hitting $13.67. The stock had a trading volume of 341,230 shares, compared to its average volume of 835,699. Kirkland Lake Gold has a one year low of $4.74 and a one year high of $15.19. The firm has a market cap of $2,731.45 and a price-to-earnings ratio of 22.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.32.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA bought a new stake in shares of Kirkland Lake Gold during the third quarter valued at approximately $158,000. APG Asset Management N.V. bought a new stake in shares of Kirkland Lake Gold during the third quarter valued at approximately $1,871,000. Canada Pension Plan Investment Board bought a new stake in shares of Kirkland Lake Gold during the third quarter valued at approximately $4,633,000. CIBC Asset Management Inc bought a new stake in shares of Kirkland Lake Gold during the third quarter valued at approximately $9,870,000. Finally, American Century Companies Inc. bought a new stake in shares of Kirkland Lake Gold during the third quarter valued at approximately $11,880,000. 1.05% of the stock is owned by institutional investors.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.008 per share. This represents a $0.03 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Thursday, September 28th. Kirkland Lake Gold’s dividend payout ratio (DPR) is currently 6.82%.
Kirkland Lake Gold Company 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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