Desjardins Analysts Lift Earnings Estimates for Kirkland Lake Gold Ltd. (KL)
Kirkland Lake Gold Ltd. (NYSE:KL) – Stock analysts at Desjardins boosted their FY2018 earnings per share estimates for Kirkland Lake Gold in a note issued to investors on Monday. Desjardins analyst R. Ray now expects that the company will earn $1.18 per share for the year, up from their previous estimate of $1.04. Desjardins has a “Buy” rating on the stock. Desjardins also issued estimates for Kirkland Lake Gold’s FY2019 earnings at $1.34 EPS and FY2020 earnings at $1.35 EPS.
Other research analysts have also issued research reports about the company. Royal Bank Of Canada restated an “outperform” rating on shares of Kirkland Lake Gold in a report on Thursday, September 7th. National Bank Financial restated an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st. Zacks Investment Research lowered Kirkland Lake Gold from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Finally, Scotiabank upgraded Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $16.00.
Shares of Kirkland Lake Gold (KL) traded down $0.44 during mid-day trading on Tuesday, reaching $14.22. The company’s stock had a trading volume of 462,007 shares, compared to its average volume of 237,868. The company has a quick ratio of 1.32, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3,040.00 and a price-to-earnings ratio of 24.07. Kirkland Lake Gold has a 12 month low of $4.74 and a 12 month high of $15.19.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp purchased a new stake in Kirkland Lake Gold in the 3rd quarter valued at about $310,368,000. U S Global Investors Inc. purchased a new stake in Kirkland Lake Gold in the 3rd quarter valued at about $19,512,000. Hillsdale Investment Management Inc. purchased a new stake in Kirkland Lake Gold in the 3rd quarter valued at about $17,982,000. Ninepoint Partners LP purchased a new stake in Kirkland Lake Gold in the 3rd quarter valued at about $15,020,000. Finally, American Century Companies Inc. purchased a new stake in Kirkland Lake Gold in the 3rd quarter valued at about $11,880,000. Institutional investors and hedge funds own 41.45% of the company’s stock.
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About Kirkland Lake Gold
Kirkland Lake Gold Ltd. engages in the exploration and development of gold properties. The company owns and operates five underground gold mines, including the Macassa mine, the Holt mine, and the Taylor mine in Ontario, Canada; and the Fosterville Mine in Victoria and the Cosmo Mine in Northern Territory, Australia, as well as four milling facilities in Canada and Australia.
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