Karora Resources (TSE:KRR) Downgraded by Eight Capital to “Neutral”

Karora Resources (TSE:KRR) was downgraded by equities researchers at Eight Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, BayStreet.CA reports. They currently have a C$5.90 target price on the stock, down from their prior target price of C$7.00. Eight Capital’s target price would indicate a potential upside of 20.41% from the stock’s current price.

Separately, CIBC raised Karora Resources from a “neutral” rating to an “outperform” rating and upped their target price for the stock from C$5.25 to C$6.50 in a report on Wednesday, February 7th.

Karora Resources Price Performance

KRR traded down C$0.28 on Wednesday, reaching C$4.90. The stock had a trading volume of 1,111,016 shares, compared to its average volume of 487,396. Karora Resources has a fifty-two week low of C$3.60 and a fifty-two week high of C$5.66. The firm has a 50-day moving average of C$4.51 and a 200-day moving average of C$4.43. The company has a current ratio of 1.68, a quick ratio of 1.04 and a debt-to-equity ratio of 17.18. The company has a market capitalization of C$875.09 million, a price-to-earnings ratio of 98.00 and a beta of 2.00.

About Karora Resources

Karora Resources Inc operates as a multi-asset mineral resource company in Australia. The company explores for gold, silver, and nickel deposits. It holds 100% interests in the Beta Hunt mine; the Higginsville Gold operations; and Spargos Reward Gold project located in Western Australia. The company was formerly known as Royal Nickel Corporation and changed its name to Karora Resources Inc in June 2020.