K92 Mining (TSE:KNT) Reaches New 12-Month High - Still a Buy?

Key Points

• K92 Mining Inc. reached a new 52-week high, trading at C$16.53, with the last trade at C$16.31 and a total volume of 619,734 shares.
• National Bank Financial upgraded K92 Mining to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" by four analysts.
• The company operates the Kainantu Gold Mine in Papua New Guinea, with an annual production rate of approximately 120,000 oz AuEq, expected to increase to over 300,000 oz AuEq following expansion.

K92 Mining Inc. (TSE:KNT - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$16.53 and last traded at C$16.31, with a volume of 619734 shares. The stock had previously closed at C$16.21.

Wall Street Analyst Weigh In

Separately, National Bank Financial upgraded shares of K92 Mining to a "strong-buy" rating in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy".

K92 Mining Stock Down 2.7%

The firm has a market cap of C$3.97 billion, a PE ratio of 18.86 and a beta of 0.45. The company has a debt-to-equity ratio of 12.66, a quick ratio of 3.15 and a current ratio of 2.83. The firm's 50-day moving average price is C$15.18 and its two-hundred day moving average price is C$13.82.

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.