K2 Gold (CVE:KTO) Trading Down 1.4% – Here’s What Happened

K2 Gold Co. (CVE:KTO)’s stock price dropped 1.4% during mid-day trading on Tuesday . The stock traded as low as C$0.70 and last traded at C$0.70. 35,250 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 260,336 shares. The stock had previously closed at C$0.71.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets set a C$2.25 price target on K2 Gold and gave the stock a “speculative buy” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$2.25.

K2 Gold Price Performance

The firm has a market capitalization of C$179.26 million, a price-to-earnings ratio of -18.50 and a beta of 1.61. The firm has a 50 day moving average price of C$0.73 and a 200-day moving average price of C$0.75.

About K2 Gold

K2 Gold Corporation, a junior mineral exploration company, acquires, explores for, and evaluates gold exploration projects in Canada and the United States. It also explores for silver metal. The company's flagship property is the Mojave Gold project that covers an area of approximately 5,780 hectares located in California. The company was formerly known as West Melville Metals Inc and changed its name to K2 Gold Corporation in November 2016. K2 Gold Corporation was incorporated in 2011 and is headquartered in Vancouver, Canada.