K92 Mining (TSE:KNT) Sets New 12-Month High – Here’s Why

K92 Mining Inc. (TSE:KNT)’s share price reached a new 52-week high on Monday . The company traded as high as C$30.63 and last traded at C$30.60, with a volume of 144157 shares traded. The stock had previously closed at C$29.18.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KNT shares. Stifel Nicolaus lifted their target price on K92 Mining from C$30.00 to C$39.00 in a report on Tuesday, February 10th. Scotiabank increased their price target on K92 Mining from C$20.50 to C$32.00 in a research report on Monday, January 26th. Finally, Desjardins raised K92 Mining to a “moderate buy” rating in a research report on Thursday, November 27th. Three analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Strong Buy” and an average price target of C$35.50.

K92 Mining Price Performance

The stock has a fifty day simple moving average of C$25.65 and a 200-day simple moving average of C$20.53. The company has a market capitalization of C$7.41 billion, a PE ratio of 29.54 and a beta of 1.04. The company has a current ratio of 2.83, a quick ratio of 3.15 and a debt-to-equity ratio of 12.66.

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.