K92 Mining (TSE:KNT) Trading 5.3% Higher – Here’s What Happened

K92 Mining Inc. (TSE:KNT) shares rose 5.3% during trading on Monday . The company traded as high as C$25.00 and last traded at C$23.86. Approximately 729,667 shares were traded during trading, a decline of 13% from the average daily volume of 843,159 shares. The stock had previously closed at C$22.65.

Analyst Upgrades and Downgrades

Several analysts have commented on KNT shares. Royal Bank Of Canada boosted their target price on shares of K92 Mining from C$36.00 to C$46.00 in a research report on Thursday, March 12th. Desjardins set a C$40.00 target price on shares of K92 Mining and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Raymond James Financial boosted their target price on shares of K92 Mining from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, K92 Mining currently has an average rating of “Buy” and a consensus target price of C$38.00.

K92 Mining Price Performance

The stock’s 50 day moving average price is C$25.06 and its two-hundred day moving average price is C$25.12. The company has a debt-to-equity ratio of 5.53, a current ratio of 4.87 and a quick ratio of 3.15. The firm has a market capitalization of C$5.85 billion, a price-to-earnings ratio of 18.50 and a beta of 1.71.

K92 Mining (TSE:KNT) last released its earnings results on Monday, May 11th. The company reported C$0.65 EPS for the quarter. The firm had revenue of C$328.50 million during the quarter. K92 Mining had a net margin of 46.05% and a return on equity of 42.98%. On average, equities research analysts anticipate that K92 Mining Inc. will post 0.7321867 EPS for the current year.

Insider Buying and Selling at K92 Mining

In related news, insider Nancy Carol La Couvee sold 6,700 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$24.26, for a total transaction of C$162,542.00. Following the completion of the transaction, the insider directly owned 55,550 shares in the company, valued at C$1,347,643. This represents a 10.76% decrease in their position. Also, insider David Gregory Medilek sold 50,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$24.31, for a total transaction of C$1,215,500.00. Following the transaction, the insider owned 300,000 shares of the company’s stock, valued at approximately C$7,293,000. The trade was a 14.29% decrease in their ownership of the stock. 2.53% of the stock is owned by corporate insiders.

K92 Mining Company Profile

K92 Mining Inc is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022.