K92 Mining (TSE:KNT) Share Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

K92 Mining Inc. (TSE:KNT)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$26.04 and traded as low as C$25.46. K92 Mining shares last traded at C$25.64, with a volume of 604,199 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Desjardins set a C$36.00 target price on shares of K92 Mining and gave the stock a “buy” rating in a research report on Monday, July 27th. National Bank Financial boosted their price target on K92 Mining from C$37.00 to C$39.00 and gave the stock an “outperform” rating in a research report on Monday, October 26th. Finally, TD set a C$31.00 price target on K92 Mining and gave the stock a “buy” rating in a research report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$36.57.

K92 Mining Trading Down 3.7%

The stock has a market capitalization of C$6.30 billion, a price-to-earnings ratio of 17.44 and a beta of 1.64. The company has a current ratio of 5.38, a quick ratio of 3.15 and a debt-to-equity ratio of 4.48. The company has a fifty day moving average of C$27.58 and a two-hundred day moving average of C$26.04.

K92 Mining (TSE:KNT) last announced its quarterly earnings results on Monday, August 10th. The company reported C$0.48 EPS for the quarter. K92 Mining had a return on equity of 43.29% and a net margin of 45.48%. The company had revenue of C$291.61 million for the quarter. On average, research analysts expect that K92 Mining Inc. will post 0.73 EPS for the current year.

K92 Mining Company Profile

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.