K2 Gold (CVE:KTO) Hits New 52-Week High – Still a Buy?

K2 Gold Co. (CVE:KTO) reached a new 52-week high on Tuesday . The stock traded as high as C$0.92 and last traded at C$0.88, with a volume of 666995 shares trading hands. The stock had previously closed at C$0.84.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets set a C$2.25 target price on K2 Gold and gave the stock a “speculative buy” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$2.25.

K2 Gold Stock Up 4.8%

The firm’s 50 day simple moving average is C$0.73 and its 200 day simple moving average is C$0.75. The company has a market cap of C$213.17 million, a price-to-earnings ratio of -22.00 and a beta of 1.61.

About K2 Gold

K2 Gold Corporation, a junior mineral exploration company, acquires, explores for, and evaluates gold exploration projects in Canada and the United States. It also explores for silver metal. The company's flagship property is the Mojave Gold project that covers an area of approximately 5,780 hectares located in California. The company was formerly known as West Melville Metals Inc and changed its name to K2 Gold Corporation in November 2016. K2 Gold Corporation was incorporated in 2011 and is headquartered in Vancouver, Canada.