K92 Mining (TSE:KNT) Stock Price Down 3.3% – Time to Sell?

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stifel Nicolaus upgraded K92 Mining to a “strong-buy” rating in a research note on Monday, June 29th. Desjardins set a C$36.00 price objective on K92 Mining and gave the company a “buy” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$37.20.

K92 Mining Stock Up 0.9%

The company has a market capitalization of C$6.95 billion, a price-to-earnings ratio of 19.25 and a beta of 1.98. The firm’s 50 day moving average price is C$26.28 and its two-hundred day moving average price is C$25.34. The company has a current ratio of 5.38, a quick ratio of 3.15 and a debt-to-equity ratio of 4.48.

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