Artemis Investment Management LLP Sells 101,346 Shares of Kirkland Lake Gold Ltd (NYSE:KL)

Artemis Investment Management LLP decreased its holdings in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 30.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,174 shares of the company’s stock after selling 101,346 shares during the period. Artemis Investment Management LLP owned 0.11% of Kirkland Lake Gold worth $10,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KL. BNP Paribas Arbitrage SA raised its position in shares of Kirkland Lake Gold by 14.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,960 shares of the company’s stock worth $857,000 after acquiring an additional 2,478 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Kirkland Lake Gold in the 2nd quarter worth approximately $202,000. JPMorgan Chase & Co. raised its position in shares of Kirkland Lake Gold by 4,056.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,053,657 shares of the company’s stock worth $44,780,000 after acquiring an additional 1,028,310 shares in the last quarter. Carillon Tower Advisers Inc. raised its position in shares of Kirkland Lake Gold by 83.7% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,024,225 shares of the company’s stock worth $43,960,000 after acquiring an additional 466,600 shares in the last quarter. Finally, Cim LLC raised its position in shares of Kirkland Lake Gold by 8.8% in the 2nd quarter. Cim LLC now owns 51,110 shares of the company’s stock worth $2,194,000 after acquiring an additional 4,151 shares in the last quarter. 51.52% of the stock is owned by institutional investors and hedge funds.

KL stock opened at $44.73 on Friday. Kirkland Lake Gold Ltd has a twelve month low of $18.12 and a twelve month high of $51.08. The firm has a market cap of $9.40 billion, a PE ratio of 32.89 and a beta of -0.13. The business has a 50 day moving average of $46.89 and a 200 day moving average of $40.19.

Kirkland Lake Gold (NYSE:KL) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Kirkland Lake Gold had a return on equity of 29.11% and a net margin of 34.59%. The company had revenue of $281.27 million during the quarter, compared to analyst estimates of $273.55 million. On average, equities research analysts predict that Kirkland Lake Gold Ltd will post 2.36 earnings per share for the current year.

The business also recently disclosed a — dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.04 per share. This represents a yield of 0.4%. The ex-dividend date was Friday, September 27th. Kirkland Lake Gold’s dividend payout ratio (DPR) is presently 11.76%.

Several brokerages have recently issued reports on KL. Desjardins reissued an “average” rating and issued a $54.50 target price on shares of Kirkland Lake Gold in a research report on Wednesday, July 17th. CIBC set a $67.00 target price on Kirkland Lake Gold and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, July 24th. Royal Bank of Canada lowered Kirkland Lake Gold from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $54.00 to $72.00 in a research report on Thursday, September 5th. Finally, Roth Capital lowered Kirkland Lake Gold from a “buy” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Kirkland Lake Gold has a consensus rating of “Hold” and an average target price of $55.28.

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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Institutional Ownership by Quarter for Kirkland Lake Gold (NYSE:KL)

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