Insider Selling: K92 Mining (TSE:KNT) Insider Sells 50,000 Shares of Stock

K92 Mining Inc. (TSE:KNT) insider David Gregory Medilek sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$24.31, for a total value of C$1,215,500.00. Following the completion of the transaction, the insider owned 300,000 shares of the company’s stock, valued at approximately C$7,293,000. This represents a 14.29% decrease in their ownership of the stock.

K92 Mining Price Performance

KNT stock remained flat at C$24.37 during mid-day trading on Friday. The company’s stock had a trading volume of 387,628 shares, compared to its average volume of 863,816. 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 stock’s 50 day moving average is C$24.87 and its 200 day moving average is C$24.55. The company has a market capitalization of C$5.97 billion, a P/E ratio of 18.89 and a beta of 1.72. K92 Mining Inc. has a 12-month low of C$13.49 and a 12-month high of C$33.45.

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

Analyst Upgrades and Downgrades

KNT has been the subject of several analyst reports. Scotiabank raised their target price on shares of K92 Mining from C$20.50 to C$32.00 in a research note on Monday, January 26th. Royal Bank Of Canada raised their target price on shares of K92 Mining from C$36.00 to C$46.00 in a research note on Thursday, March 12th. Raymond James Financial raised their target price on shares of K92 Mining from C$30.00 to C$33.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Stifel Nicolaus raised their price objective on K92 Mining from C$30.00 to C$39.00 in a research report on Tuesday, February 10th. Finally, Desjardins set a C$40.00 price objective on K92 Mining and gave the company a “buy” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, K92 Mining has an average rating of “Buy” and an average target price of C$38.00.

About K92 Mining

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.