K92 Mining (TSE:KNT) Shares Down 1.6% - What's Next?

Key Points

• Shares fell 1.6% to C$24.19 on Monday (intraday low C$23.99) with trading volume of 419,314 shares, about 57% below the average session volume.
• Multiple firms have raised price targets (RBC C$46, Desjardins C$38.50, Stifel C$39, Scotiabank C$32), leaving a consensus rating of Strong Buy and a consensus price target of C$38.88—well above the current share price.
• K92 reported Q EPS of C$0.49 and revenue of C$234.3M with high margins (net margin ~45.4%, ROE ~41.7%), and its Kainantu mine is expected to scale from ~120,000 oz AuEq to >300,000 oz AuEq after the Stage 3 Expansion.

K92 Mining Inc. (TSE:KNT - Get Free Report)'s stock price fell 1.6% on Monday . The stock traded as low as C$23.99 and last traded at C$24.19. 419,314 shares traded hands during trading, a decline of 57% from the average session volume of 969,414 shares. The stock had previously closed at C$24.58.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KNT. Desjardins lifted their target price on shares of K92 Mining from C$35.00 to C$38.50 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Scotiabank lifted their target price on shares of K92 Mining from C$20.50 to C$32.00 in a report on Monday, January 26th. Royal Bank Of Canada lifted their target price on shares of K92 Mining from C$36.00 to C$46.00 in a report on Thursday, March 12th. Finally, Stifel Nicolaus lifted their price target on shares of K92 Mining from C$30.00 to C$39.00 in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy" and a consensus price target of C$38.88.

K92 Mining Stock Down 1.6%

The company has a market capitalization of C$5.93 billion, a P/E ratio of 21.79 and a beta of 1.70. The company has a debt-to-equity ratio of 7.10, a quick ratio of 3.15 and a current ratio of 3.28. The stock has a 50 day moving average price of C$26.68 and a 200 day moving average price of C$22.84.

K92 Mining (TSE:KNT - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported C$0.49 EPS for the quarter. K92 Mining had a return on equity of 41.72% and a net margin of 45.38%.The company had revenue of C$234.30 million for the quarter. Equities research analysts forecast that K92 Mining Inc. will post 0.7321867 earnings per share for the current fiscal year.

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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