Karora Resources (TSE:KRR) Stock Rating Lowered by Eight Capital

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

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

Karora Resources Stock Down 5.4 %

KRR stock traded down C$0.28 during trading on Wednesday, hitting C$4.90. 1,111,016 shares of the company’s stock traded hands, compared to its average volume of 487,396. The firm has a market capitalization of C$875.09 million, a P/E ratio of 98.00 and a beta of 2.00. The business has a fifty day simple moving average of C$4.51 and a two-hundred day simple moving average of C$4.43. The company has a quick ratio of 1.04, a current ratio of 1.68 and a debt-to-equity ratio of 17.18. Karora Resources has a 1 year low of C$3.60 and a 1 year high of C$5.66.

Karora Resources Company Profile

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.