BMO Capital analyst Andrew Mikitchook maintained a Buy rating on K92 Mining today and set a price target of C$22.00.
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Andrew Mikitchook’s rating is based on K92 Mining’s consistent production performance and strategic expansion efforts. The company reported a Q2 production of 34,816 ounces of gold equivalent, surpassing expectations for the fourth consecutive quarter. This consistent outperformance is a positive indicator of the company’s operational efficiency.
Additionally, the commencement of the 1.2Mtpa Stage 3 plant commissioning, with 86% of the growth capital already spent or committed, demonstrates K92 Mining’s commitment to expanding its production capacity. The infrastructure upgrades nearing completion are expected to enhance mining rates, supporting the company’s goal to achieve the upper end of its production guidance. These factors contribute to the analyst’s confidence in K92 Mining’s growth potential, justifying the Buy rating.