Stifel Nicolaus Forecasts Strong Price Appreciation for K92 Mining (TSE:KNT) Stock

K92 Mining (TSE:KNT) had its price objective boosted by investment analysts at Stifel Nicolaus from C$30.00 to C$39.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Stifel Nicolaus’ target price would suggest a potential upside of 38.25% from the stock’s previous close.

Several other research firms also recently weighed in on KNT. Scotiabank raised their target price on K92 Mining from C$20.50 to C$32.00 in a research report on Monday, January 26th. Desjardins upgraded K92 Mining to a “moderate buy” rating in a report on Thursday, November 27th. Three investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, K92 Mining currently has a consensus rating of “Strong Buy” and an average price target of C$35.50.

K92 Mining Stock Performance

Shares of KNT traded up C$0.29 during mid-day trading on Tuesday, reaching C$28.21. The company had a trading volume of 285,535 shares, compared to its average volume of 839,047. The company has a quick ratio of 3.15, a current ratio of 2.83 and a debt-to-equity ratio of 12.66. The stock has a 50 day moving average of C$24.37 and a two-hundred day moving average of C$19.68. K92 Mining has a 52-week low of C$9.26 and a 52-week high of C$29.61. The stock has a market capitalization of C$6.87 billion, a P/E ratio of 27.39 and a beta of 1.04.

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

K92 Mining Company Profile

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.