K92 Mining (TSE:KNT) Given New C$46.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on K92 Mining to C$46.00, implying a potential upside of 74.18% from the stock's previous close.
• Other analysts have also lifted targets (Scotiabank, Desjardins, Stifel), leaving a consensus target of C$38.88 and an overall analyst rating of "Strong Buy" (three Strong Buys, one Buy).
• K92 reported strong quarterly results—C$0.49 EPS on C$234.3M revenue with a 45% net margin and 41.7% ROE—and its Kainantu mine is slated to grow production from ~120,000 oz AuEq to a run-rate of >300,000 oz AuEq after its Stage 3 expansion.

K92 Mining (TSE:KNT - Get Free Report) had its price objective lifted by stock analysts at Royal Bank Of Canada from C$36.00 to C$46.00 in a research report issued on Thursday,BayStreet.CA reports. Royal Bank Of Canada's price target indicates a potential upside of 74.18% from the stock's previous close.

A number of other analysts have also issued reports on KNT. Scotiabank lifted their target price on K92 Mining from C$20.50 to C$32.00 in a research report on Monday, January 26th. Desjardins increased their price objective on shares of K92 Mining from C$35.00 to C$38.50 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Finally, Stifel Nicolaus upped their price target on shares of K92 Mining from C$30.00 to C$39.00 in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy" and a consensus target price of C$38.88.

K92 Mining Stock Down 2.2%

TSE KNT traded down C$0.59 during trading hours on Thursday, hitting C$26.41. The company had a trading volume of 573,972 shares, compared to its average volume of 816,431. The firm's 50 day moving average is C$27.52 and its 200 day moving average is C$21.87. The company has a debt-to-equity ratio of 7.10, a current ratio of 3.28 and a quick ratio of 3.15. K92 Mining has a fifty-two week low of C$10.28 and a fifty-two week high of C$33.45. The company has a market capitalization of C$6.47 billion, a price-to-earnings ratio of 23.79 and a beta of 1.26.

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

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.

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