Lenox Wealth Management Inc. Boosts Holdings in Kirkland Lake Gold Ltd (NYSE:KL)

Lenox Wealth Management Inc. increased its stake in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 68.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,325 shares of the company’s stock after buying an additional 2,568 shares during the period. Lenox Wealth Management Inc.’s holdings in Kirkland Lake Gold were worth $283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Kirkland Lake Gold in the second quarter worth about $30,000. Optimum Investment Advisors purchased a new position in shares of Kirkland Lake Gold in the second quarter worth about $43,000. Bartlett & Co. LLC purchased a new position in shares of Kirkland Lake Gold in the third quarter worth about $59,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Kirkland Lake Gold in the second quarter worth about $65,000. Finally, Valeo Financial Advisors LLC increased its stake in shares of Kirkland Lake Gold by 115.2% in the third quarter. Valeo Financial Advisors LLC now owns 1,775 shares of the company’s stock worth $80,000 after purchasing an additional 950 shares in the last quarter. Institutional investors and hedge funds own 51.53% of the company’s stock.

Shares of KL stock traded down $1.11 during trading hours on Friday, reaching $45.21. 1,144,518 shares of the company’s stock were exchanged, compared to its average volume of 1,421,648. Kirkland Lake Gold Ltd has a 1 year low of $18.12 and a 1 year high of $51.08. The stock has a market cap of $9.54 billion, a PE ratio of 33.24 and a beta of -0.14. The stock’s fifty day moving average price is $45.79 and its two-hundred day moving average price is $42.06.

Kirkland Lake Gold (NYSE:KL) last released its earnings results on Wednesday, November 6th. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.08. Kirkland Lake Gold had a return on equity of 29.11% and a net margin of 34.59%. The firm had revenue of $381.43 million during the quarter, compared to the consensus estimate of $375.14 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue was up 71.3% compared to the same quarter last year. On average, equities analysts expect that Kirkland Lake Gold Ltd will post 2.63 earnings per share for the current fiscal year.

The company also recently announced a — dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.04 per share. This represents a dividend yield of 0.4%. The ex-dividend date was Friday, September 27th. Kirkland Lake Gold’s dividend payout ratio (DPR) is 11.76%.

A number of equities analysts have recently commented on KL shares. Zacks Investment Research lowered shares of Kirkland Lake Gold from a “buy” rating to a “hold” rating in a research report on Saturday. Credit Suisse Group started coverage on shares of Kirkland Lake Gold in a research report on Monday, October 7th. They issued a “neutral” rating and a $47.00 target price on the stock. National Bank Financial reduced their target price on shares of Kirkland Lake Gold from $71.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Monday, October 21st. CIBC set a $67.00 price target on shares of Kirkland Lake Gold and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Roth Capital lowered Kirkland Lake Gold from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.23.

About Kirkland Lake Gold

Kirkland Lake Gold Ltd. engages in the acquisition, exploration, development, and operation of gold properties. It owns and operates four underground gold mines, including the Macassa, Holt, and Taylor mines located in northeastern Ontario, Canada; and the Fosterville Mine located in Victoria, Australia, as well as three milling facilities in Canada and Australia.

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

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