Kirkland Lake Gold (NYSE:KL) Given a $48.00 Price Target at Roth Capital

Roth Capital set a $48.00 target price on Kirkland Lake Gold (NYSE:KL) in a research report sent to investors on Thursday morning, The Fly reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of Xylem from a hold rating to a buy rating in a research report on Friday, June 21st. National Bank Financial lowered shares of Kirkland Lake Gold from an outperform overweight rating to a sector perform overweight rating in a research report on Monday, May 27th. Scotiabank lowered shares of Kirkland Lake Gold from an outperform rating to a sector perform rating in a research report on Wednesday, July 3rd. Zacks Investment Research lowered shares of GenMark Diagnostics from a hold rating to a sell rating in a research report on Wednesday, April 24th. Finally, TheStreet lowered shares of Vince from a c- rating to a d rating in a research report on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $44.67.

Shares of NYSE KL traded down $0.33 during trading on Thursday, hitting $42.13. The stock had a trading volume of 20,555 shares, compared to its average volume of 1,517,914. Kirkland Lake Gold has a 12 month low of $17.26 and a 12 month high of $44.04. The company has a quick ratio of 1.89, a current ratio of 2.08 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $8.82 billion, a P/E ratio of 30.95 and a beta of -0.02. The company’s fifty day moving average price is $38.79.

Kirkland Lake Gold (NYSE:KL) last posted its earnings results on Tuesday, May 7th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Kirkland Lake Gold had a net margin of 32.67% and a return on equity of 27.33%. The firm had revenue of $304.91 million during the quarter, compared to analyst estimates of $386.33 million. During the same quarter in the prior year, the business posted $0.23 EPS. The business’s revenue was up 53.8% compared to the same quarter last year. On average, research analysts predict that Kirkland Lake Gold will post 2.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.12 annualized dividend and a yield of 0.28%. This is a positive change from Kirkland Lake Gold’s previous quarterly dividend of $0.03. Kirkland Lake Gold’s dividend payout ratio is presently 11.76%.

A number of institutional investors and hedge funds have recently bought and sold shares of KL. FMR LLC boosted its position in Kirkland Lake Gold by 13.2% during the first quarter. FMR LLC now owns 13,435,610 shares of the company’s stock worth $408,593,000 after purchasing an additional 1,566,183 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Kirkland Lake Gold by 30.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,187,834 shares of the company’s stock worth $157,815,000 after purchasing an additional 1,210,933 shares during the period. Bank of Montreal Can lifted its holdings in shares of Kirkland Lake Gold by 31.7% in the first quarter. Bank of Montreal Can now owns 3,183,803 shares of the company’s stock worth $96,820,000 after buying an additional 766,461 shares in the last quarter. Norges Bank purchased a new stake in shares of Kirkland Lake Gold in the fourth quarter worth about $76,164,000. Finally, Deutsche Bank AG lifted its holdings in shares of Kirkland Lake Gold by 25.1% in the fourth quarter. Deutsche Bank AG now owns 2,908,668 shares of the company’s stock worth $75,886,000 after buying an additional 582,676 shares in the last quarter. Institutional investors own 47.63% of the company’s stock.

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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