K92 Mining (TSE:KNT) Hits New 1-Year High Following Analyst Upgrade

Shares of K92 Mining Inc. (TSE:KNT) hit a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$20.50 to C$32.00. The stock traded as high as C$28.90 and last traded at C$27.84, with a volume of 258326 shares trading hands. The stock had previously closed at C$27.91.

Separately, Desjardins raised K92 Mining to a “moderate buy” rating in a research note on Thursday, November 27th. Four research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average target price of C$32.00.

K92 Mining Stock Down 1.0%

The company has a current ratio of 2.83, a quick ratio of 3.15 and a debt-to-equity ratio of 12.66. The company has a market capitalization of C$6.73 billion, a P/E ratio of 26.83 and a beta of 0.85. The firm’s 50 day moving average price is C$22.70 and its two-hundred day moving average price is C$18.73.

K92 Mining (TSE:KNT) last released its earnings results on Monday, November 10th. The company reported C$0.35 earnings per share for the quarter. K92 Mining had a net margin of 24.76% and a return on equity of 20.37%. The business had revenue of C$247.22 million during the quarter. Equities research analysts forecast that K92 Mining Inc. will post 0.7321867 EPS for the current year.

K92 Mining Company Profile

K92 Mining Inc owns and operates the high-grade Kainantu Gold Mine in Papua New Guinea which is currently operating at a design annualized production rate of approximately 120,000 oz AuEq per annum and is expected to produce at a run-rate of +300,000 oz AuEq per annum following its Stage 3 Expansion.