Kirkland Lake Gold Sees Unusually High Options Volume (KL)

Kirkland Lake Gold Ltd. (NYSE:KL) was the target of unusually large options trading activity on Monday. Stock traders bought 1,757 call options on the company. This is an increase of approximately 592% compared to the typical volume of 254 call options.

Shares of Kirkland Lake Gold (NYSE KL) opened at $15.16 on Thursday. The firm has a market cap of $3,060.00 and a P/E ratio of 33.69. The company has a quick ratio of 1.32, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. Kirkland Lake Gold has a 1-year low of $4.89 and a 1-year high of $15.21.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a $0.016 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.42%. Kirkland Lake Gold’s payout ratio is 6.67%.

KL has been the subject of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating on shares of Kirkland Lake Gold in a report on Thursday, September 7th. Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, September 20th. National Bank Financial restated an “outperform market weight” rating on shares of Kirkland Lake Gold in a report on Thursday, September 21st. Desjardins initiated coverage on shares of Kirkland Lake Gold in a report on Friday, September 29th. They issued a “buy” rating for the company. Finally, Scotiabank upgraded shares of Kirkland Lake Gold from a “sector perform” rating to an “outperform” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.00.

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $310,368,000. U S Global Investors Inc. bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $19,512,000. Hillsdale Investment Management Inc. bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $17,982,000. Ninepoint Partners LP bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $15,020,000. Finally, American Century Companies Inc. bought a new stake in Kirkland Lake Gold during the 3rd quarter valued at $11,880,000. Hedge funds and other institutional investors own 41.45% of the company’s stock.

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Kirkland Lake Gold Company Profile

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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