Karora Resources (TSE:KRR) Price Target Cut to C$6.25 by Analysts at Canaccord Genuity Group

Karora Resources (TSE:KRR) had its target price lowered by analysts at Canaccord Genuity Group from C$8.73 to C$6.25 in a research note issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective indicates a potential upside of 10.42% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Eight Capital lowered Karora Resources from a “buy” rating to a “neutral” rating and decreased their target price for the company from C$7.00 to C$5.90 in a research report on Wednesday, April 10th. CIBC upgraded Karora Resources from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$5.25 to C$6.50 in a research report on Wednesday, February 7th.

Karora Resources Stock Performance

Karora Resources stock traded up C$0.15 during mid-day trading on Tuesday, hitting C$5.66. The company had a trading volume of 554,221 shares, compared to its average volume of 616,047. The company has a current ratio of 1.68, a quick ratio of 1.04 and a debt-to-equity ratio of 17.18. Karora Resources has a 12-month low of C$3.60 and a 12-month high of C$5.77. The company’s fifty day moving average is C$4.72 and its 200-day moving average is C$4.52. The company has a market capitalization of C$1.01 billion, a price-to-earnings ratio of 113.00 and a beta of 2.00.

Karora Resources (TSE:KRR) last released its quarterly earnings data on Friday, March 22nd. The company reported C$0.02 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.05). Karora Resources had a return on equity of 2.49% and a net margin of 2.14%. The company had revenue of C$101.78 million during the quarter. Equities research analysts predict that Karora Resources will post 0.3050655 EPS for the current year.

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.