IFG Advisory LLC Invests $240,000 in Kirkland Lake Gold Ltd (KL)

IFG Advisory LLC acquired a new position in shares of Kirkland Lake Gold Ltd (NYSE:KL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,689 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $132,000. Shepherd Kaplan Krochuk LLC bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $201,000. Van Hulzen Asset Management LLC bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $211,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Kirkland Lake Gold in the 3rd quarter valued at about $224,000. Finally, Sigma Planning Corp bought a new position in Kirkland Lake Gold in the 2nd quarter valued at about $234,000. 43.29% of the stock is currently owned by institutional investors.

NYSE:KL opened at $18.94 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.00 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 16.59 and a beta of -0.27. Kirkland Lake Gold Ltd has a 52 week low of $13.03 and a 52 week high of $23.86.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a $0.023 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.09 annualized dividend and a yield of 0.48%. Kirkland Lake Gold’s dividend payout ratio (DPR) is 12.68%.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research note on Friday, July 27th. BMO Capital Markets lowered shares of Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 18th. Finally, ValuEngine upgraded shares of Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research note on Friday, August 17th.

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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 four underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine 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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