The Globe and Mail reports in its Tuesday, Nov. 28, edition that National Bank analyst Don DeMarco is sticking with his "outperform" ranking for K92 Mining. The Globe's David Leeder writes that Mr. DeMarco gave his share target a 25-cent trim to $9.75. Analysts on average target the shares at $10.39. Following better-than-expected third quarter results, Mr. DeMarco says an operational rebound is "on deck" for K92 Mining to finish the fiscal year. On Nov. 14, the miner reported adjusted earnings per share of one cent, a penny above the Street's expectation and matching Mr. DeMarco's estimate. Cash flow per share, before currency adjustments, of five cents was also one cent above the consensus and in line with the analyst's view. Mr. DeMarco says in a note, "Overall, we ascribe a positive bias and look for upcoming catalysts/derisking events with the MRE update (Q4/23), paste fill plant pricing and capex guidance (Q1/24) and setting up for operational momentum to continue into 2024." The Globe reported on June 2 that Raymond James analysts recommended K92 Mining for its growth potential. It was then worth $5.95. The Globe reported on Oct. 24 that National Bank rated K92 Mining "outperform." It was then worth $5.53.
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