K92 Mining (TSE:KNT) Stock Price Breaks Above 200-Day Moving Average – Time to Sell?

Shares of K92 Mining Inc. (TSE:KNT) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$26.05 and traded as high as C$26.54. K92 Mining shares last traded at C$26.45, with a volume of 590,312 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD set a C$31.00 target price on shares of K92 Mining and gave the company a “buy” rating in a report on Tuesday, October 20th. Desjardins set a C$36.00 price target on shares of K92 Mining and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, National Bank Financial boosted their price objective on shares of K92 Mining from C$37.00 to C$39.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$36.57.

K92 Mining Stock Up 8.2%

The firm has a fifty day moving average price of C$27.90 and a 200-day moving average price of C$26.05. The company has a quick ratio of 3.15, a current ratio of 5.38 and a debt-to-equity ratio of 4.48. The firm has a market cap of C$6.50 billion, a price-to-earnings ratio of 17.99 and a beta of 1.88.

K92 Mining (TSE:KNT) last announced its quarterly earnings data on Monday, August 10th. The company reported C$0.48 EPS for the quarter. The business had revenue of C$291.61 million during the quarter. K92 Mining had a return on equity of 43.29% and a net margin of 45.48%. As a group, sell-side analysts forecast that K92 Mining Inc. will post 0.73 EPS for the current year.

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.