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

Shares of K92 Mining Inc. (TSE:KNT) crossed 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.

Analysts Set New Price Targets

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

K92 Mining Stock Performance

The company has a current ratio of 5.38, a quick ratio of 3.15 and a debt-to-equity ratio of 4.48. The stock’s 50 day moving average price is C$27.90 and its two-hundred day moving average price is C$26.05. The firm has a market capitalization of C$6.50 billion, a PE ratio of 17.99 and a beta of 1.88.

K92 Mining (TSE:KNT) last posted its earnings results on Monday, August 10th. The company reported C$0.48 earnings per share (EPS) for the quarter. The firm had revenue of C$291.61 million for the quarter. K92 Mining had a return on equity of 43.29% and a net margin of 45.48%. On average, equities analysts expect that K92 Mining Inc. will post 0.73 earnings per share 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.