K92 Mining (TSE:KNT) Reaches New 52-Week High - What's Next?

Key Points

• K92 Mining Inc. shares reached a new 52-week high of C$16.22 during trading, closing at C$16.19 with a volume of 412,712 shares.
• Brokerages have upgraded K92 Mining to a "strong-buy" rating, with an average rating of "Strong Buy" from four equities research analysts.
• The company operates the high-grade Kainantu Gold Mine in Papua New Guinea, currently producing approximately 120,000 oz AuEq per annum, with expectations to exceed 300,000 oz AuEq following its Stage 3 Expansion.

K92 Mining Inc. (TSE:KNT - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$16.22 and last traded at C$16.19, with a volume of 412712 shares. The stock had previously closed at C$15.64.

Analysts Set New Price Targets

A number of brokerages have commented on KNT. National Bank Financial upgraded shares of K92 Mining to a "strong-buy" rating in a research note on Wednesday, July 9th. Ventum Cap Mkts upgraded shares of K92 Mining to a "strong-buy" rating in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of "Strong Buy".

K92 Mining Stock Up 2.5%

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 is C$15.00 and its two-hundred day moving average is C$13.44. The stock has a market cap of C$3.88 billion, a P/E ratio of 18.43 and a beta of 0.52.

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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