K92 Mining (TSE:KNT) Sets New 12-Month High on Analyst Upgrade

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

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

K92 Mining Stock Performance

The company has a market cap of C$6.73 billion, a P/E ratio of 26.83 and a beta of 0.85. The company’s fifty day moving average is C$22.88 and its 200 day moving average is C$18.81. The company has a current ratio of 2.83, a quick ratio of 3.15 and a debt-to-equity ratio of 12.66.

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