K92 Mining (TSE:KNT) Shares Down 3.3% – Should You Sell?

K92 Mining Inc. (TSE:KNT) was down 3.3% during trading on Monday . The company traded as low as C$27.73 and last traded at C$28.33. Approximately 736,700 shares were traded during mid-day trading, a decline of 7% from the average session volume of 789,024 shares. The stock had previously closed at C$29.31.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on KNT shares. Desjardins set a C$36.00 price target on shares of K92 Mining and gave the stock a “buy” rating in a research note on Monday, July 27th. Stifel Nicolaus upgraded shares of K92 Mining to a “strong-buy” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$37.20.

K92 Mining Trading Down 3.3%

The company has a debt-to-equity ratio of 4.48, a current ratio of 5.38 and a quick ratio of 3.15. The business’s 50 day simple moving average is C$26.15 and its 200 day simple moving average is C$25.36. The stock has a market cap of C$6.96 billion, a P/E ratio of 19.27 and a beta of 1.98.

K92 Mining (TSE:KNT) last issued its earnings results on Monday, August 10th. The company reported C$0.48 earnings per share (EPS) for the quarter. K92 Mining had a return on equity of 43.29% and a net margin of 45.48%.The business had revenue of C$291.61 million during the quarter. On average, analysts expect that K92 Mining Inc. will post 0.7321867 earnings per share for the current fiscal year.

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.