In a report released yesterday, Andrew Mikitchook from BMO Capital maintained a Buy rating on K92 Mining, with a price target of C$22.00.
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Andrew Mikitchook has given his Buy rating due to a combination of factors that highlight K92 Mining’s strong financial performance and strategic growth plans. The company’s Q2 financial results showed an EPS of $0.16, which met expectations, and a co-product AISC of $1,489/oz, which was better than both BMO’s estimate and market expectations. This financial performance, coupled with the ongoing commissioning of the Stage 3 expansion, indicates a positive outlook for increased production capacity.
Furthermore, K92 Mining’s strategic initiatives, such as the development of the Stage 3 expansion, are progressing well, with 87% of the expansion capital already spent or committed. The company also maintains a strong cash position, supporting its growth plans. The expected increase in throughput and production capacity positions K92 Mining to transition into a mid-tier producer, offering significant self-financed production growth. These factors collectively support the Buy rating assigned by Andrew Mikitchook.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$17.50 price target.
KNT’s price has also changed dramatically for the past six months – from C$10.470 to C$14.890, which is a 42.22% increase.