Stifel Nicolaus Forecasts Strong Price Appreciation for K92 Mining (TSE:KNT) Stock

K92 Mining (TSE:KNT) had its price objective increased by analysts at Stifel Nicolaus from C$30.00 to C$39.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Stifel Nicolaus’ target price suggests a potential upside of 32.70% from the company’s current price.

A number of other brokerages have also recently commented on KNT. Scotiabank raised their price target on shares of K92 Mining from C$20.50 to C$32.00 in a research note on Monday, January 26th. Desjardins upgraded shares of K92 Mining to a “moderate buy” rating in a research report on Thursday, November 27th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average price target of C$35.50.

K92 Mining Stock Up 3.1%

K92 Mining stock opened at C$29.39 on Tuesday. 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 company’s 50-day moving average price is C$24.72 and its two-hundred day moving average price is C$19.84. K92 Mining has a 52 week low of C$9.26 and a 52 week high of C$29.61. The stock has a market cap of C$7.15 billion, a price-to-earnings ratio of 28.53 and a beta of 1.04.

K92 Mining (TSE:KNT) last issued its earnings results on Monday, November 10th. The company reported C$0.35 EPS for the quarter. The firm had revenue of C$247.22 million for the quarter. K92 Mining had a return on equity of 20.37% and a net margin of 24.76%. On average, analysts expect that K92 Mining will post 0.7321867 EPS 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.