Desjardins Reiterates C$40.00 Price Target for K92 Mining (TSE:KNT)

Key Points

• Desjardins reiterated a C$40.00 price target and a "buy" rating on K92 Mining, implying a potential 51.52% upside from the current share price.
• Other brokers (RBC, Stifel, Scotiabank) have recently raised their targets, leaving a consensus rating of Strong Buy and an average price target of C$39.25.
• K92 is trading at C$26.40 with a market cap of C$6.47 billion and reported strong quarterly results (C$0.49 EPS, 41.72% ROE, 45.38% net margin), highlighting solid profitability.

K92 Mining (TSE:KNT - Get Free Report) has been assigned a C$40.00 price target by equities research analysts at Desjardins in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' price objective points to a potential upside of 51.52% from the stock's current price.

KNT has been the subject of a number of other research reports. Royal Bank Of Canada increased their price target on K92 Mining from C$36.00 to C$46.00 in a research report on Thursday, March 12th. Stifel Nicolaus increased their price target on K92 Mining from C$30.00 to C$39.00 in a research report on Tuesday, February 10th. Finally, Scotiabank increased their price target on K92 Mining from C$20.50 to C$32.00 in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and an average price target of C$39.25.

K92 Mining Price Performance

KNT stock traded down C$0.38 during trading hours on Thursday, hitting C$26.40. 450,111 shares of the stock traded hands, compared to its average volume of 921,354. The company has a current ratio of 3.28, a quick ratio of 3.15 and a debt-to-equity ratio of 7.10. K92 Mining has a one year low of C$12.06 and a one year high of C$33.45. The company has a market cap of C$6.47 billion, a P/E ratio of 23.78 and a beta of 1.70. The stock has a 50-day simple moving average of C$26.32 and a 200 day simple moving average of C$23.56.

K92 Mining (TSE:KNT - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported C$0.49 earnings per share for the quarter. K92 Mining had a return on equity of 41.72% and a net margin of 45.38%.The business had revenue of C$234.30 million during the quarter. Equities analysts forecast that K92 Mining will post 0.7321867 earnings per share for the current 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.

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