K92 Mining (TSE:KNT) Reaches New 1-Year High – Still a Buy?

K92 Mining Inc. (TSE:KNT) reached a new 52-week high on Monday . The company traded as high as C$30.63 and last traded at C$30.60, with a volume of 144157 shares traded. The stock had previously closed at C$29.18.

Analysts Set New Price Targets

Several research firms recently issued reports on KNT. Scotiabank raised their price objective on shares of K92 Mining from C$20.50 to C$32.00 in a research report on Monday, January 26th. Stifel Nicolaus increased their price objective on K92 Mining from C$30.00 to C$39.00 in a research report on Tuesday, February 10th. Finally, Desjardins raised K92 Mining to a “moderate buy” rating in a research note on Thursday, November 27th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and an average target price of C$35.50.

K92 Mining Stock Performance

The firm has a 50-day moving average price of C$25.65 and a 200 day moving average price of C$20.53. The firm has a market capitalization of C$7.41 billion, a PE ratio of 29.54 and a beta of 1.04. The company has a quick ratio of 3.15, a current ratio of 2.83 and a debt-to-equity ratio of 12.66.

K92 Mining Company Profile

K92 Mining Inc owns and operates the high-grade Kainantu Gold Mine in Papua New Guinea which is currently operating at a design annualized production rate of approximately 120,000 oz AuEq per annum and is expected to produce at a run-rate of +300,000 oz AuEq per annum following its Stage 3 Expansion.