K92 Mining (TSE:KNT) Insider Sells C$1,215,500.00 in Stock

K92 Mining Inc. (TSE:KNT) insider David Gregory Medilek sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was 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 ownership of the stock.

K92 Mining Stock Performance

TSE KNT opened at C$25.30 on Wednesday. K92 Mining Inc. has a 1 year low of C$13.73 and a 1 year high of C$33.45. 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 firm has a market cap of C$6.20 billion, a price-to-earnings ratio of 19.61 and a beta of 1.72. The company has a fifty day moving average price of C$24.88 and a 200-day moving average price of C$24.70.

K92 Mining (TSE:KNT) last posted its earnings results on Monday, May 11th. The company reported C$0.65 earnings per share (EPS) for the quarter. K92 Mining had a net margin of 46.05% and a return on equity of 42.98%. The firm had revenue of C$328.50 million during the quarter. As a group, equities research analysts predict that K92 Mining Inc. will post 0.7321867 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KNT has been the subject of several recent analyst reports. Raymond James Financial upped their target price on K92 Mining from C$30.00 to C$33.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Stifel Nicolaus upped their target price on K92 Mining from C$30.00 to C$39.00 in a report on Tuesday, February 10th. Royal Bank Of Canada upped their target price on K92 Mining from C$36.00 to C$46.00 in a report on Thursday, March 12th. Finally, Desjardins set a C$40.00 target price on K92 Mining and gave the company a “buy” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$38.00.

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.