K92 Mining (TSE:KNT) Given a C$36.00 Price Target by Desjardins Analysts

Key Points

• Desjardins set a C$36.00 price target for K92 Mining and maintained a “buy” rating, implying 58.59% upside from the previous close. The analyst consensus is also “Buy,” with an average target of C$37.20.
• K92 Mining shares rose 1.3% to C$22.70, giving the company a market capitalization of approximately C$5.56 billion. The company reported C$0.65 in quarterly EPS, C$328.50 million in revenue, a 46.05% net margin, and a 42.98% return on equity.
• Insiders recently sold shares: David Gregory Medilek sold 50,000 shares and Nancy Carol La Couvee sold 6,700 shares. Corporate insiders own approximately 2.53% of K92 Mining.

K92 Mining (TSE:KNT - Get Free Report) received a C$36.00 price objective from stock analysts at Desjardins in a research report issued on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' price objective suggests a potential upside of 58.59% from the company's previous close.

Several other research firms also recently issued reports on KNT. Stifel Nicolaus upgraded K92 Mining to a "strong-buy" rating in a research note on Monday, June 29th. Raymond James Financial upped their target price on K92 Mining from C$30.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$37.20.

K92 Mining Stock Up 1.3%

Shares of KNT stock traded up C$0.29 on Monday, hitting C$22.70. The company's stock had a trading volume of 287,192 shares, compared to its average volume of 804,747. The stock has a market capitalization of C$5.56 billion, a price-to-earnings ratio of 17.60 and a beta of 1.81. K92 Mining has a fifty-two week low of C$14.13 and a fifty-two week high of C$33.45. The firm's fifty day moving average price is C$22.95 and its 200-day moving average price is C$25.18. The company has a debt-to-equity ratio of 5.53, a current ratio of 4.87 and a quick ratio of 3.15.

K92 Mining (TSE:KNT - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported C$0.65 EPS for the quarter. K92 Mining had a net margin of 46.05% and a return on equity of 42.98%. The firm had revenue of C$328.50 million for the quarter. Research analysts anticipate that K92 Mining will post 0.7321867 EPS for the current year.

Insider Transactions at K92 Mining

In other news, insider David Gregory Medilek sold 50,000 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$24.31, for a total value of C$1,215,500.00. Following the sale, the insider directly owned 300,000 shares of the company's stock, valued at approximately C$7,293,000. This trade represents a 14.29% decrease in their ownership of the stock. Also, insider Nancy Carol La Couvee sold 6,700 shares of K92 Mining stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$24.26, for a total value of C$162,542.00. Following the completion of the transaction, the insider owned 55,550 shares in the company, valued at C$1,347,643. The trade was a 10.76% decrease in their ownership of the stock. 2.53% of the stock is owned by corporate insiders.

K92 Mining Company Profile

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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