DORCHESTER WEALTH MANAGEMENT Co purchased a new stake in shares of Kirkland Lake Gold Ltd (NYSE:KL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,850 shares of the company’s stock, valued at approximately $224,000.
A number of other large investors have also bought and sold shares of KL. SG Americas Securities LLC acquired a new position in Kirkland Lake Gold during the second quarter valued at $132,000. Barclays PLC raised its position in Kirkland Lake Gold by 1,058.8% during the first quarter. Barclays PLC now owns 11,009 shares of the company’s stock valued at $171,000 after buying an additional 10,059 shares during the period. Shepherd Kaplan Krochuk LLC acquired a new position in Kirkland Lake Gold during the second quarter valued at $201,000. Van Hulzen Asset Management LLC acquired a new position in Kirkland Lake Gold during the second quarter valued at $211,000. Finally, Sigma Planning Corp acquired a new position in Kirkland Lake Gold during the second quarter valued at $234,000. 42.69% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:KL opened at $21.59 on Wednesday. The firm has a market cap of $3.99 billion, a P/E ratio of 30.41 and a beta of -0.53. Kirkland Lake Gold Ltd has a 1-year low of $11.52 and a 1-year high of $23.86. The company has a current ratio of 2.74, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 0.43%. The ex-dividend date was Thursday, September 27th. Kirkland Lake Gold’s payout ratio is currently 12.68%.
Several research analysts recently weighed in on KL shares. Zacks Investment Research raised Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. BMO Capital Markets lowered Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 18th. Finally, ValuEngine raised Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $22.00.
About Kirkland Lake Gold
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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