Koryx Copper (CVE:KRY) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its target price for Koryx Copper from C$4.25 to C$4.50 and kept a "buy" rating, implying about a 32.74% potential upside from the prior close.
• The stock traded at C$3.39 (down 0.6%), has a market cap of C$408.53 million, a 12‑month range of C$0.89–C$3.90 and a negative P/E of -8.92, indicating the company is currently unprofitable.
• Insider buying: Director Charles Edward Loots purchased 34,000 shares at C$3.09, boosting his holding by 4.79% to 743,667 shares.

Koryx Copper (CVE:KRY - Get Free Report) had its target price raised by investment analysts at Stifel Nicolaus from C$4.25 to C$4.50 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 32.74% from the stock's previous close.

Koryx Copper Stock Down 0.6%

Shares of CVE KRY traded down C$0.02 during trading on Wednesday, reaching C$3.39. The company had a trading volume of 242,840 shares, compared to its average volume of 282,319. The company's fifty day moving average price is C$3.24 and its 200-day moving average price is C$2.44. Koryx Copper has a 12 month low of C$0.89 and a 12 month high of C$3.90. The stock has a market cap of C$408.53 million, a P/E ratio of -8.92 and a beta of 1.55.

Insider Activity at Koryx Copper

In other news, Director Charles Edward Loots acquired 34,000 shares of Koryx Copper stock in a transaction dated Thursday, February 19th. The shares were bought at an average cost of C$3.09 per share, with a total value of C$105,060.00. Following the purchase, the director owned 743,667 shares in the company, valued at C$2,297,931.03. This trade represents a 4.79% increase in their position.

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