Karora Resources (TSE:KRR) Trading Up 5.4%

Karora Resources Inc. (TSE:KRR)’s share price shot up 5.4% during mid-day trading on Wednesday . The company traded as high as C$5.46 and last traded at C$5.43. 335,759 shares traded hands during trading, a decline of 40% from the average session volume of 561,012 shares. The stock had previously closed at C$5.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KRR. Eight Capital cut Karora Resources from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from C$7.00 to C$5.90 in a research note on Wednesday, April 10th. CIBC raised Karora Resources from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$5.25 to C$6.50 in a report on Wednesday, February 7th.

Karora Resources Trading Up 5.0 %

The company has a current ratio of 1.68, a quick ratio of 1.04 and a debt-to-equity ratio of 17.18. The firm has a market capitalization of C$966.17 million, a P/E ratio of 103.00 and a beta of 2.00. The firm has a 50-day moving average of C$4.61 and a two-hundred day moving average of C$4.47.

Karora Resources (TSE:KRR) last posted its earnings results on Friday, March 22nd. The company reported C$0.02 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.05). The firm had revenue of C$101.78 million during the quarter. Karora Resources had a net margin of 2.14% and a return on equity of 2.49%. On average, analysts anticipate that Karora Resources Inc. will post 0.3050655 EPS for the current year.

About Karora Resources

Karora Resources Inc operates as a multi-asset mineral resource company in Australia. The company explores for gold, silver, and nickel deposits. It holds 100% interests in the Beta Hunt mine; the Higginsville Gold operations; and Spargos Reward Gold project located in Western Australia. The company was formerly known as Royal Nickel Corporation and changed its name to Karora Resources Inc in June 2020.