Clean Yield Group lowered its position in shares of Kirkland Lake Gold Ltd. (NYSE:KL) by 47.6% in the third quarter, Holdings Channel reports. The institutional investor owned 3,300 shares of the company’s stock after selling 3,000 shares during the period. Clean Yield Group’s holdings in Kirkland Lake Gold were worth $161,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of KL. Vanguard Group Inc. grew its holdings in shares of Kirkland Lake Gold by 0.9% during the second quarter. Vanguard Group Inc. now owns 8,062,350 shares of the company’s stock worth $332,491,000 after purchasing an additional 71,405 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Kirkland Lake Gold by 165.1% during the second quarter. CIBC Asset Management Inc now owns 3,935,876 shares of the company’s stock worth $161,558,000 after purchasing an additional 2,451,165 shares during the last quarter. FIL Ltd bought a new stake in shares of Kirkland Lake Gold during the second quarter worth about $154,744,000. Ninety One UK Ltd grew its holdings in shares of Kirkland Lake Gold by 8.5% during the second quarter. Ninety One UK Ltd now owns 2,932,626 shares of the company’s stock worth $120,363,000 after purchasing an additional 229,725 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Kirkland Lake Gold by 124.1% during the first quarter. Invesco Ltd. now owns 2,851,602 shares of the company’s stock worth $84,407,000 after purchasing an additional 1,579,083 shares during the last quarter. 49.81% of the stock is owned by institutional investors and hedge funds.

KL traded down $0.88 during trading on Friday, hitting $49.84. The company’s stock had a trading volume of 997,317 shares, compared to its average volume of 2,107,282. Kirkland Lake Gold Ltd. has a twelve month low of $18.02 and a twelve month high of $57.69. The stock’s fifty day moving average price is $50.91 and its 200-day moving average price is $44.50. The firm has a market capitalization of $13.71 billion, a P/E ratio of 16.95, a PEG ratio of 5.18 and a beta of 0.92.

Kirkland Lake Gold (NYSE:KL) last issued its earnings results on Thursday, July 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.05. Kirkland Lake Gold had a return on equity of 24.32% and a net margin of 36.22%. The company had revenue of $580.98 million for the quarter, compared to analyst estimates of $566.08 million. Equities analysts predict that Kirkland Lake Gold Ltd. will post 3.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, September 29th. Kirkland Lake Gold’s payout ratio is 18.25%.

Several brokerages recently commented on KL. Royal Bank of Canada reiterated a “buy” rating and issued a $63.00 target price on shares of Kirkland Lake Gold in a report on Tuesday, August 11th. National Bank Financial cut Kirkland Lake Gold from an “outperform spec under weight” rating to a “sector perform spec overwgt” rating in a report on Thursday, July 2nd. Scotiabank upped their target price on Kirkland Lake Gold from $64.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, October 13th. Bank of America dropped their price target on Kirkland Lake Gold from $64.75 to $62.50 and set a “buy” rating on the stock in a research note on Thursday, October 8th. Finally, TD Securities boosted their price target on Kirkland Lake Gold from $76.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $63.67.

Kirkland Lake Gold Profile

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. The company's principal properties include the Fosterville Mine located in the State of Victoria, Australia; and Macassa Mine situated in the Municipality of Kirkland Lake, Ontario, Canada.

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

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