K92 Mining (TSE:KNT) Hits New 52-Week High – Should You Buy?

K92 Mining Inc. (TSE:KNT) shares hit a new 52-week high on Thursday . The company traded as high as C$22.82 and last traded at C$22.79, with a volume of 40011 shares changing hands. The stock had previously closed at C$22.61.

Analysts Set New Price Targets

Separately, Desjardins upgraded K92 Mining to a “moderate buy” rating in a research report on Thursday, November 27th. Four investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy”.

K92 Mining Price Performance

The stock has a market cap of C$5.52 billion, a price-to-earnings ratio of 22.02 and a beta of 0.82. The company’s 50 day moving average is C$19.57 and its 200 day moving average is C$16.98. The company has a debt-to-equity ratio of 12.66, a current ratio of 2.83 and a quick ratio of 3.15.

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

Insiders Place Their Bets

In related news, Director Cyndi Dianna Laval sold 9,400 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of C$17.63, for a total value of C$165,722.00. Following the completion of the transaction, the director directly owned 170,994 shares of the company’s stock, valued at C$3,014,624.22. This trade represents a 5.21% decrease in their position. 2.53% of the stock is owned by insiders.

About K92 Mining

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.