Analyst Andrew Mikitchook of BMO Capital maintained a Buy rating on K92 Mining, retaining the price target of C$22.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Andrew Mikitchook has given his Buy rating due to a combination of factors that highlight K92 Mining’s promising exploration results and growth potential. The recent exploration updates at the Kainantu mine, particularly at the Arakompa site, have shown significant expansion in both scale and grade of mineralization. This includes the high-grade AR1 and AR2 veins and the discovery of a new prospect at Wera, which is already undergoing drilling.
Additionally, K92 Mining’s strategic plans for Stage 3 expansion, which involve increasing underground mining rates and building stockpiles, are expected to enhance production capabilities significantly. The company is poised to transition into a mid-tier producer with a projected gold production exceeding 200,000 ounces per year. These developments, coupled with the company’s ability to self-finance its growth, underpin Mikitchook’s positive outlook and Buy rating for K92 Mining.
In another report released on September 10, RBC Capital also maintained a Buy rating on the stock with a C$22.00 price target.
KNT’s price has also changed dramatically for the past six months – from C$10.150 to C$16.860, which is a 66.11% increase.