K92 Mining (TSE:KNT) Trading 5.3% Higher – Here’s What Happened

Shares of K92 Mining Inc. (TSE:KNT) traded up 5.3% during mid-day trading on Monday . The company traded as high as C$25.00 and last traded at C$23.86. 729,667 shares were traded during mid-day trading, a decline of 13% from the average session volume of 843,159 shares. The stock had previously closed at C$22.65.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Raymond James Financial increased their price objective on shares of K92 Mining from C$30.00 to C$33.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada increased their price objective on shares of K92 Mining from C$36.00 to C$46.00 in a research note on Thursday, March 12th. Finally, Desjardins set a C$40.00 price objective on shares of K92 Mining and gave the company a “buy” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$38.00.

K92 Mining Trading Up 5.3%

The company’s fifty day moving average price is C$25.06 and its two-hundred day moving average price is C$25.12. The company has a current ratio of 4.87, a quick ratio of 3.15 and a debt-to-equity ratio of 5.53. The firm has a market cap of C$5.85 billion, a P/E ratio of 18.50 and a beta of 1.71.

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

Insider Transactions at K92 Mining

In other K92 Mining news, insider David Gregory Medilek sold 50,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$24.31, for a total transaction of C$1,215,500.00. Following the sale, the insider owned 300,000 shares of the company’s stock, valued at C$7,293,000. This represents a 14.29% decrease in their position. Also, insider Nancy Carol La Couvee sold 6,700 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$24.26, for a total transaction of C$162,542.00. Following the sale, the insider directly owned 55,550 shares in the company, valued at approximately C$1,347,643. This represents a 10.76% decrease in their position. 2.53% of the stock is owned by corporate insiders.

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.