David Gregory Medilek Sells 50,000 Shares of K92 Mining (TSE:KNT) Stock

K92 Mining Inc. (TSE:KNT) insider David Gregory Medilek sold 50,000 shares of the 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 transaction of C$1,215,500.00. Following the completion of the sale, the insider owned 300,000 shares of the company’s stock, valued at approximately C$7,293,000. The trade was a 14.29% decrease in their position.

K92 Mining Trading Up 4.2%

K92 Mining stock opened at C$25.39 on Tuesday. K92 Mining Inc. has a 12 month low of C$13.73 and a 12 month high of C$33.45. The company has a quick ratio of 3.15, a current ratio of 4.87 and a debt-to-equity ratio of 5.53. The stock has a market cap of C$6.22 billion, a P/E ratio of 19.68 and a beta of 1.72. The company’s fifty day simple moving average is C$24.86 and its 200-day simple moving average is C$24.65.

K92 Mining (TSE:KNT) last announced its quarterly earnings data on Monday, May 11th. The company reported C$0.65 earnings per share (EPS) for the quarter. K92 Mining had a return on equity of 42.98% and a net margin of 46.05%.The business had revenue of C$328.50 million during the quarter. As a group, sell-side analysts forecast that K92 Mining Inc. will post 0.7321867 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KNT shares. Raymond James Financial increased their price objective on K92 Mining from C$30.00 to C$33.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Stifel Nicolaus boosted their target price on shares of K92 Mining from C$30.00 to C$39.00 in a research report on Tuesday, February 10th. Royal Bank Of Canada increased their price target on shares of K92 Mining from C$36.00 to C$46.00 in a research note on Thursday, March 12th. Desjardins set a C$40.00 price target on shares of K92 Mining and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Scotiabank lifted their price objective on shares of K92 Mining from C$20.50 to C$32.00 in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$38.00.

About K92 Mining

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.