K92 Mining (TSE:KNT) Given a C$36.00 Price Target at Desjardins

K92 Mining (TSE:KNT) has been given a C$36.00 price objective by investment analysts at Desjardins in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 58.59% from the stock’s current price.

KNT has been the topic of several other reports. Raymond James Financial boosted their price target on K92 Mining from C$30.00 to C$33.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Stifel Nicolaus upgraded K92 Mining to a “strong-buy” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$37.20.

K92 Mining Stock Performance

K92 Mining stock traded up C$0.29 during mid-day trading on Monday, reaching C$22.70. The company had a trading volume of 287,192 shares, compared to its average volume of 804,747. The company has a quick ratio of 3.15, a current ratio of 4.87 and a debt-to-equity ratio of 5.53. K92 Mining has a 52 week low of C$14.13 and a 52 week high of C$33.45. The company has a 50 day moving average of C$22.95 and a 200-day moving average of C$25.18. The firm has a market cap of C$5.56 billion, a price-to-earnings ratio of 17.60 and a beta of 1.81.

K92 Mining (TSE:KNT) last posted its quarterly earnings data on Monday, May 11th. The company reported C$0.65 earnings per share (EPS) for the quarter. The company had revenue of C$328.50 million for the quarter. K92 Mining had a net margin of 46.05% and a return on equity of 42.98%. On average, sell-side analysts expect that K92 Mining will post 0.7321867 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David Gregory Medilek sold 50,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$24.31, for a total transaction of C$1,215,500.00. Following the completion of the transaction, the insider directly owned 300,000 shares of the company’s stock, valued at approximately C$7,293,000. This trade represents a 14.29% decrease in their position. Also, insider Nancy Carol La Couvee sold 6,700 shares of K92 Mining stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$24.26, for a total transaction of C$162,542.00. Following the sale, the insider owned 55,550 shares in the company, valued at approximately C$1,347,643. This trade represents a 10.76% decrease in their ownership of the stock. Corporate insiders own 2.53% of the company’s stock.

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.