TSX:KNT - Post Discussion
Post by
aljangor on Oct 21, 2024 8:07pm
Latest lower stock price probable reason.
Globe says Habib keeps K92 Mining "sector outperform"
2024-10-18 09:13 ET - In the News
The Globe and Mail reports in its Friday, Oct. 18, edition that Scotia Capital analyst Ovais Habib, in response to the release of an update to its integrated development Plan (IDP) for the Stage 3 and Stage 4 expansions of its Kainantu mine, bumped his share target for K92 Mining to $9.50 from $9. The Globe's David Leeder writes in the Eye On Equities column that Mr. Habib continues to rate K92 Mining "sector outperform." Analysts on average target the shares at $11.79. Mr. Habib says in a note: "We view the update as positive for [K92 Mining] shares as the latest technical report update reiterated that development capex remains under control, with the remaining Stage 3 expansion capex coming in better than our estimate and the ramp up to nameplate in line with our estimate. With respect to Stage 4, the update outlined significantly more total production from higher peak mill throughput, supporting an improved cost profile. We look forward to future updates on commissioning of the Stage 3 mill and paste plant which are expected to progress through mid-2025." The Globe reported on May 17, that National Bank Financial cut K92 Mining to "sector perform" from "outperform" when it was worth $7.80.
Be the first to comment on this post