Karora Resources (TSE:KRR) Upgraded by CIBC to “Outperform”

CIBC upgraded shares of Karora Resources (TSE:KRRFree 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.

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Karora Resources Trading Up 3.5 %

KRR stock opened at C$4.14 on Wednesday. The business has a fifty day moving average price of C$4.59 and a 200 day moving average price of C$4.36. Karora Resources has a fifty-two week low of C$3.60 and a fifty-two week high of C$5.61. The stock has a market capitalization of C$735.84 million, a price-to-earnings ratio of 34.50 and a beta of 2.03. The company has a debt-to-equity ratio of 16.94, a current ratio of 2.04 and a quick ratio of 1.04.

Karora Resources (TSE:KRRGet 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

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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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