Karora Resources (TSE:KRR) Cut to Hold at Desjardins

Karora Resources (TSE:KRRGet Rating) was downgraded by Desjardins from a “buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

Several other research firms have also commented on KRR. Canaccord Genuity Group raised their target price on shares of Karora Resources from C$6.00 to C$6.75 in a report on Wednesday, March 16th. Scotiabank boosted their price objective on shares of Karora Resources from C$6.50 to C$7.25 in a research report on Tuesday. Finally, Cormark downgraded Karora Resources from a “buy” rating to a “market perform” rating in a report on Friday, April 8th.

TSE KRR opened at C$6.68 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.41 and a debt-to-equity ratio of 16.56. The company has a market cap of C$1.03 billion and a price-to-earnings ratio of 37.11. The company has a 50 day moving average of C$6.21 and a 200-day moving average of C$4.91. Karora Resources has a 1-year low of C$3.03 and a 1-year high of C$7.55.

Karora Resources (TSE:KRRGet Rating) last posted its quarterly earnings data on Monday, March 14th. The company reported C$0.08 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.09 by C($0.01). The business had revenue of C$66.97 million during the quarter. On average, equities research analysts forecast that Karora Resources will post 0.65 earnings per share for the current year.

About Karora Resources (Get Rating)

Karora Resources Inc operates as a multi-asset mineral resource company in Australia. The company explores for gold and nickel deposits. It holds 100% interests in the Beta Hunt Gold 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.

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