K92 Mining (TSE:KNT) Reaches New 1-Year High - Here's Why

Key Points

• K92 Mining Inc. reached a new 52-week high of C$17.50, with its last trade at C$17.47, marking a notable increase from its previous closing price of C$16.82.
• National Bank Financial upgraded K92 Mining to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" from four research analysts.
• The company operates the Kainantu Gold Mine in Papua New Guinea, currently producing around 120,000 ounces of gold equivalent per annum, with future expectations to exceed 300,000 ounces post-expansion.

K92 Mining Inc. (TSE:KNT - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as C$17.50 and last traded at C$17.47, with a volume of 554971 shares. The stock had previously closed at C$16.82.

Analyst Upgrades and Downgrades

Separately, National Bank Financial raised K92 Mining to a "strong-buy" rating in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, K92 Mining presently has a consensus rating of "Strong Buy".

K92 Mining Trading Up 5.1%

The company has a current ratio of 2.83, a quick ratio of 3.15 and a debt-to-equity ratio of 12.66. The stock has a 50 day simple moving average of C$15.53 and a 200-day simple moving average of C$14.31. The firm has a market cap of C$4.28 billion, a P/E ratio of 20.32 and a beta of 0.45.

K92 Mining Company Profile

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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