Kirkland Lake Gold Ltd (KL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Kirkland Lake Gold Ltd (NYSE:KL) by 70.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,700 shares of the company’s stock after selling 95,900 shares during the period. Renaissance Technologies LLC’s holdings in Kirkland Lake Gold were worth $841,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bridgewater Associates LP raised its position in shares of Kirkland Lake Gold by 7.3% during the 2nd quarter. Bridgewater Associates LP now owns 38,491 shares of the company’s stock valued at $815,000 after acquiring an additional 2,632 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Kirkland Lake Gold during the 2nd quarter valued at $132,000. Van Hulzen Asset Management LLC bought a new stake in shares of Kirkland Lake Gold during the 2nd quarter valued at $211,000. Barclays PLC raised its position in shares of Kirkland Lake Gold by 1,058.8% during the 1st quarter. Barclays PLC now owns 11,009 shares of the company’s stock valued at $171,000 after acquiring an additional 10,059 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Kirkland Lake Gold by 3.4% during the 2nd quarter. Swiss National Bank now owns 330,485 shares of the company’s stock valued at $6,977,000 after acquiring an additional 10,900 shares during the last quarter. Hedge funds and other institutional investors own 42.80% of the company’s stock.

KL has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research report on Friday, July 27th. BMO Capital Markets cut shares of Kirkland Lake Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 18th. Finally, ValuEngine upgraded shares of Kirkland Lake Gold from a “sell” rating to a “hold” rating in a research report on Friday, August 17th.

Shares of Kirkland Lake Gold stock opened at $20.24 on Friday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 17.30 and a beta of -0.27. Kirkland Lake Gold Ltd has a 52 week low of $13.03 and a 52 week high of $23.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.00 and a quick ratio of 2.46.

Kirkland Lake Gold (NYSE:KL) last issued 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). The business had revenue of $214.65 million for the quarter. Kirkland Lake Gold had a net margin of 25.02% and a return on equity of 20.81%. As a group, sell-side analysts forecast that Kirkland Lake Gold Ltd will post 1.11 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, September 27th. Kirkland Lake Gold’s payout ratio is 12.68%.

Kirkland Lake Gold 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.

Further Reading: What is a stock buyback?

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

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