K92 Mining (TSE:KNT) Posts Earnings Results

K92 Mining (TSE:KNT) released its earnings results on Monday. The company reported C$0.48 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$291.61 million during the quarter. K92 Mining had a return on equity of 42.98% and a net margin of 46.05%.

K92 Mining Stock Performance

Shares of TSE KNT opened at C$28.49 on Monday. The company has a debt-to-equity ratio of 5.53, a current ratio of 4.87 and a quick ratio of 3.15. The stock has a market capitalization of C$6.98 billion, a P/E ratio of 22.09 and a beta of 1.80. The business has a fifty day moving average price of C$22.84 and a 200 day moving average price of C$25.10. K92 Mining has a 1-year low of C$14.21 and a 1-year high of C$33.45.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KNT. Desjardins set a C$36.00 price target on shares of K92 Mining and gave the company a “buy” rating in a research report on Monday, July 27th. Stifel Nicolaus raised K92 Mining to a “strong-buy” rating in a research note on Monday, June 29th. Finally, Raymond James Financial increased their price objective on K92 Mining from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, K92 Mining currently has a consensus rating of “Buy” and an average target price of C$37.20.

Insider Activity

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

About K92 Mining

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.