Spark Investment Management LLC Acquires 422,000 Shares of Kirkland Lake Gold Ltd (KL)

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Spark Investment Management LLC increased its holdings in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 76.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 975,000 shares of the company’s stock after buying an additional 422,000 shares during the quarter. Kirkland Lake Gold accounts for about 1.2% of Spark Investment Management LLC’s holdings, making the stock its 5th biggest holding. Spark Investment Management LLC’s holdings in Kirkland Lake Gold were worth $20,667,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp lifted its position in shares of Kirkland Lake Gold by 5.3% during the 1st quarter. Van ECK Associates Corp now owns 25,411,529 shares of the company’s stock worth $393,124,000 after buying an additional 1,275,162 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Kirkland Lake Gold by 116.6% during the first quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,348,000 shares of the company’s stock worth $66,860,000 after acquiring an additional 1,802,400 shares during the last quarter. American Century Companies Inc. raised its position in shares of Kirkland Lake Gold by 42.4% during the first quarter. American Century Companies Inc. now owns 1,994,007 shares of the company’s stock worth $30,908,000 after acquiring an additional 593,317 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Kirkland Lake Gold by 2.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,906,188 shares of the company’s stock worth $40,342,000 after acquiring an additional 48,200 shares during the last quarter. Finally, Fiera Capital Corp raised its position in shares of Kirkland Lake Gold by 10.7% during the first quarter. Fiera Capital Corp now owns 1,351,394 shares of the company’s stock worth $20,917,000 after acquiring an additional 130,731 shares during the last quarter. Institutional investors and hedge funds own 41.18% of the company’s stock.

A number of brokerages have recently issued reports on KL. ValuEngine upgraded Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research downgraded Kirkland Lake Gold from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Finally, BMO Capital Markets downgraded Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Kirkland Lake Gold currently has an average rating of “Buy” and a consensus price target of $22.00.

NYSE KL opened at $19.74 on Monday. Kirkland Lake Gold Ltd has a one year low of $11.51 and a one year high of $23.86. The company has a market cap of $4.64 billion and a P/E ratio of 27.80. The company has a quick ratio of 2.46, a current ratio of 2.74 and a debt-to-equity ratio of 0.01.

Kirkland Lake Gold (NYSE:KL) last released its earnings results on Wednesday, August 1st. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). Kirkland Lake Gold had a return on equity of 18.54% and a net margin of 24.94%. The business had revenue of $214.65 million for the quarter. research analysts predict that Kirkland Lake Gold Ltd will post 1.13 EPS for the current fiscal year.

Kirkland Lake Gold Company Profile

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

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