Desjardins Brokers Decrease Earnings Estimates for Kirkland Lake Gold Ltd. (KL)
Kirkland Lake Gold Ltd. (NYSE:KL) – Research analysts at Desjardins cut their FY2017 earnings estimates for shares of Kirkland Lake Gold in a note issued to investors on Thursday. Desjardins analyst R. Ray now expects that the company will post earnings per share of $0.68 for the year, down from their prior estimate of $0.69. Desjardins currently has a “Hold” rating on the stock. Desjardins also issued estimates for Kirkland Lake Gold’s FY2018 earnings at $1.04 EPS, FY2019 earnings at $1.22 EPS, FY2020 earnings at $1.23 EPS and FY2021 earnings at $0.95 EPS.
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Other analysts also recently issued reports about the company. Scotiabank raised Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a research report on Thursday, November 2nd. National Bank Financial reissued an “outperform market weight” rating on shares of Kirkland Lake Gold in a research 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, Royal Bank Of Canada reissued an “outperform” rating on shares of Kirkland Lake Gold in a research note on Thursday, September 7th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Kirkland Lake Gold currently has an average rating of “Buy” and an average target price of $14.00.
Shares of Kirkland Lake Gold (KL) opened at $14.56 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $2,831.08 and a P/E ratio of 23.52. Kirkland Lake Gold has a 52-week low of $4.74 and a 52-week high of $15.19.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.008 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.03 annualized dividend and a dividend yield of 0.22%. Kirkland Lake Gold’s dividend payout ratio is currently 6.82%.
Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA purchased a new position in shares of Kirkland Lake Gold during the 3rd quarter worth approximately $158,000. Bank of New York Mellon Corp bought a new stake in shares of Kirkland Lake Gold in the 3rd quarter worth approximately $541,000. APG Asset Management N.V. bought a new stake in shares of Kirkland Lake Gold in the 3rd quarter worth approximately $1,871,000. Canada Pension Plan Investment Board bought a new stake in shares of Kirkland Lake Gold in the 3rd quarter worth approximately $4,633,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Kirkland Lake Gold in the 3rd quarter worth approximately $9,012,000. Hedge funds and other institutional investors own 1.05% of the company’s stock.
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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