CIBC upgraded shares of Karora Resources (TSE:KRR – Free Report) from a neutral rating to an outperform rating in a research note issued to investors on Wednesday, BayStreet.CA reports. CIBC currently has C$6.50 price objective on the stock, up from their previous price objective of C$5.25.
Separately, Desjardins lowered their target price on Karora Resources from C$7.00 to C$6.75 and set a buy rating for the company in a research note on Monday, November 13th.
Karora Resources Trading Up 3.5 %
Karora Resources (TSE:KRR – Get Free Report) last released its quarterly earnings results on Friday, November 10th. The company reported C$0.08 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.01). Karora Resources had a net margin of 4.91% and a return on equity of 5.85%. The business had revenue of C$107.14 million for the quarter. Analysts expect that Karora Resources will post 0.4470457 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 and nickel deposits. It holds 100% interests in the Beta Hunt Gold 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.
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