K92 Mining (TSE:KNT) Hits New 12-Month High Following Analyst Upgrade

K92 Mining Inc. (TSE:KNT) shares hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$20.50 to C$32.00. The stock traded as high as C$28.90 and last traded at C$27.84, with a volume of 258326 shares. The stock had previously closed at C$27.91.

Separately, Desjardins raised shares of K92 Mining to a “moderate buy” rating in a research report on Thursday, November 27th. Four analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Strong Buy” and an average target price of C$32.00.

K92 Mining Stock Up 3.0%

The stock has a market cap of C$6.93 billion, a P/E ratio of 27.63 and a beta of 0.85. 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 firm’s fifty day moving average is C$23.07 and its 200 day moving average is C$18.91.

K92 Mining (TSE:KNT) last released its quarterly earnings results on Monday, November 10th. The company reported C$0.35 earnings per share (EPS) for the quarter. The company had revenue of C$247.22 million during the quarter. K92 Mining had a net margin of 24.76% and a return on equity of 20.37%. As a group, equities research analysts forecast that K92 Mining Inc. will post 0.7321867 EPS for the current 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.