K92 Mining (TSE:KNT) Sets New 1-Year High - Still a Buy?

Key Points

• K92 Mining Inc. reached a new 52-week high at C$17.16 during trading, closing at C$17.08 with a significant trading volume of 1,314,755 shares.
• National Bank Financial upgraded K92 Mining to a "strong-buy" rating, contributing to an overall average rating of "Strong Buy" from analysts.
• The company operates the Kainantu Gold Mine in Papua New Guinea, currently producing approximately 120,000 oz AuEq annually, with expectations to increase to over 300,000 oz AuEq following expansion.

K92 Mining Inc. (TSE:KNT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$17.16 and last traded at C$17.08, with a volume of 1314755 shares changing hands. The stock had previously closed at C$15.89.

Analysts Set New Price Targets

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

K92 Mining Price Performance

The company has a market cap of C$4.14 billion, a price-to-earnings ratio of 19.64 and a beta of 0.45. The company has a quick ratio of 3.15, a current ratio of 2.83 and a debt-to-equity ratio of 12.66. The company's fifty day moving average price is C$15.26 and its two-hundred day moving average price is C$14.03.

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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