Karora Resources (TSE:KRR) Price Target Increased to C$9.00 by Analysts at Canaccord Genuity Group

Karora Resources (TSE:KRR) had its price objective lifted by analysts at Canaccord Genuity Group from C$8.25 to C$9.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective indicates a potential upside of 35.95% from the stock’s previous close.

KRR has been the topic of several other reports. Eight Capital lowered Karora Resources from a “buy” rating to a “neutral” rating and dropped their target price for the stock from C$7.00 to C$5.90 in a report on Wednesday, April 10th. Desjardins boosted their target price on shares of Karora Resources from C$5.65 to C$5.97 and gave the company a “tender” rating in a research note on Thursday, June 6th.

Karora Resources Stock Performance

Karora Resources stock traded down C$0.02 during trading hours on Tuesday, hitting C$6.62. 149,869 shares of the stock traded hands, compared to its average volume of 651,861. The firm’s 50 day moving average price is C$5.94 and its 200-day moving average price is C$5.13. The company has a debt-to-equity ratio of 17.18, a current ratio of 1.68 and a quick ratio of 1.04. The stock has a market capitalization of C$1.18 billion, a price-to-earnings ratio of 132.20 and a beta of 2.06. Karora Resources has a 1 year low of C$3.60 and a 1 year high of C$6.99.

Karora Resources (TSE:KRR) last issued its earnings results on Monday, May 13th. The company reported C$0.07 EPS for the quarter. Karora Resources had a return on equity of 2.49% and a net margin of 2.14%. The firm had revenue of C$115.54 million for the quarter. As a group, equities analysts expect that Karora Resources will post 0.6099675 EPS for the current fiscal year.

About Karora Resources

Karora Resources Inc operates as a multi-asset mineral resource company in Australia. The company explores for gold, silver, and nickel deposits. It holds 100% interests in the Beta Hunt mine; the Higginsville Gold operations; and Spargos Reward Gold project located in Western Australia. The company was formerly known as Royal Nickel Corporation and changed its name to Karora Resources Inc in June 2020.