Raymond James Financial Raises K92 Mining (TSE:KNT) Price Target to C$33.00

Key Points

• Raymond James raised its price target on K92 Mining to C$33.00 and kept an "outperform" rating, implying roughly a 34.7% upside from the stock's current price.
• Analyst sentiment is broadly bullish: MarketBeat shows an average rating of "Strong Buy" with an average target of C$38.00, and several firms (RBC C$46, Desjardins C$40, Stifel C$39) have recently increased their targets.
• K92 was trading around C$24.50 (market cap ≈ C$6.0B) with a trailing PE of 22.07; it reported C$0.49 EPS for the quarter and a net margin of 45.38%.

K92 Mining (TSE:KNT - Get Free Report) had its target price increased by analysts at Raymond James Financial from C$30.00 to C$33.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price objective points to a potential upside of 34.69% from the stock's current price.

KNT has been the topic of a number of other reports. Desjardins set a C$40.00 target price on shares of K92 Mining and gave the company a "buy" rating in a research report on Thursday, April 23rd. Scotiabank increased their target price on shares of K92 Mining from C$20.50 to C$32.00 in a research report on Monday, January 26th. Royal Bank Of Canada increased their target price on shares of K92 Mining from C$36.00 to C$46.00 in a research report on Thursday, March 12th. Finally, Stifel Nicolaus increased their target price on shares of K92 Mining from C$30.00 to C$39.00 in a research report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, K92 Mining presently has an average rating of "Strong Buy" and an average target price of C$38.00.

K92 Mining Stock Down 0.3%

Shares of KNT traded down C$0.07 during mid-day trading on Wednesday, reaching C$24.50. The company's stock had a trading volume of 851,527 shares, compared to its average volume of 901,161. K92 Mining has a 12-month low of C$12.06 and a 12-month high of C$33.45. The stock has a market cap of C$6.00 billion, a PE ratio of 22.07 and a beta of 1.70. The company has a debt-to-equity ratio of 7.10, a current ratio of 3.28 and a quick ratio of 3.15. The company's 50 day moving average is C$26.17 and its 200 day moving average is C$23.79.

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

K92 Mining Company Profile

K92 Mining Inc is engaged in the production of gold, copper and silver at the Kainantu Gold Mine in the Eastern Highlands province of Papua New Guinea, as well as exploration and development of mineral deposits in the immediate vicinity of the mine. The Company declared commercial production from Kainantu in February 2018, is in a strong financial position, and is working to become a Tier 1 mid-tier producer through ongoing expansions. A maiden resource estimate on the Blue Lake copper-gold porphyry project was completed in August 2022.

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