K92 Mining (TSE:KNT) Sets New 12-Month High - Here's Why

Key Points

• K92 Mining Inc. shares reached a new **52-week high** of C$18.28 during trading, closing at C$17.77 with a trading volume of **604,413 shares**.
• National Bank Financial upgraded K92 Mining to a **"strong-buy" rating**, contributing to an overall analyst consensus of **"Strong Buy"** for the stock.
• The company operates the Kainantu Gold Mine in Papua New Guinea, with a current production rate of approximately **120,000 oz AuEq per annum**, expected to increase to over **300,000 oz AuEq** following expansion.

K92 Mining Inc. (TSE:KNT - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$18.28 and last traded at C$17.77, with a volume of 604413 shares changing hands. The stock had previously closed at C$17.69.

Wall Street Analysts Forecast Growth

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

K92 Mining Price Performance

The company's 50 day simple moving average is C$15.75 and its 200 day simple moving average is C$14.50. 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 market capitalization of C$4.30 billion, a PE ratio of 20.43 and a beta of 0.71.

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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