K92 Mining (TSE:KNT) Shares Down 3.3% – What’s Next?

K92 Mining Inc. (TSE:KNT) shares traded down 3.3% during trading on Monday . The stock traded as low as C$27.73 and last traded at C$28.33. Approximately 736,700 shares were traded during mid-day trading, a decline of 7% from the average session volume of 789,024 shares. The stock had previously closed at C$29.31.

Analysts Set New Price Targets

Several analysts have weighed in on KNT shares. Stifel Nicolaus raised K92 Mining to a “strong-buy” rating in a research note on Monday, June 29th. Desjardins set a C$36.00 price target on K92 Mining and gave the stock a “buy” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$37.20.

K92 Mining Trading Down 3.3%

The business’s 50 day moving average price is C$26.15 and its two-hundred day moving average price is C$25.36. The company has a debt-to-equity ratio of 4.48, a quick ratio of 3.15 and a current ratio of 5.38. The company has a market capitalization of C$6.96 billion, a price-to-earnings ratio of 19.27 and a beta of 1.98.

K92 Mining (TSE:KNT) last posted its quarterly earnings data on Monday, August 10th. The company reported C$0.48 EPS for the quarter. The business had revenue of C$291.61 million for the quarter. K92 Mining had a net margin of 45.48% and a return on equity of 43.29%. Equities analysts forecast that K92 Mining Inc. will post 0.7321867 earnings per share for the current fiscal year.

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.