Commerzbank Aktiengesellschaft FI Reduces Holdings in Kirkland Lake Gold Ltd (KL)

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Commerzbank Aktiengesellschaft FI trimmed its holdings in shares of Kirkland Lake Gold Ltd (NYSE:KL) by 19.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,897 shares of the company’s stock after selling 15,000 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Kirkland Lake Gold were worth $1,286,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC increased its holdings in shares of Kirkland Lake Gold by 48.7% in the 2nd quarter. FMR LLC now owns 10,894,991 shares of the company’s stock worth $230,720,000 after acquiring an additional 3,568,968 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its holdings in shares of Kirkland Lake Gold by 116.6% in the 1st 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 period. Van ECK Associates Corp increased its holdings in shares of Kirkland Lake Gold by 5.3% in the 1st quarter. Van ECK Associates Corp now owns 25,411,529 shares of the company’s stock worth $393,124,000 after acquiring an additional 1,275,162 shares during the period. American Century Companies Inc. increased its holdings in shares of Kirkland Lake Gold by 42.4% in the 1st 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 period. Finally, Spark Investment Management LLC increased its holdings in shares of Kirkland Lake Gold by 76.3% in the 2nd quarter. Spark Investment Management LLC now owns 975,000 shares of the company’s stock worth $20,667,000 after acquiring an additional 422,000 shares during the period. 43.33% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on KL. ValuEngine raised shares of Kirkland Lake Gold from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research cut shares of Kirkland Lake Gold from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Finally, BMO Capital Markets cut shares of Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Kirkland Lake Gold stock opened at $18.41 on Friday. The stock has a market cap of $3.84 billion and a price-to-earnings ratio of 25.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.74. Kirkland Lake Gold Ltd has a 52 week low of $11.52 and a 52 week high of $23.86.

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 Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The company had revenue of $214.65 million for the quarter. Kirkland Lake Gold had a net margin of 24.94% and a return on equity of 18.54%. research analysts forecast that Kirkland Lake Gold Ltd will post 1.09 earnings per share for the current year.

About Kirkland Lake Gold

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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