Research Analysts Set Expectations for Karora Resources Inc.’s FY2024 Earnings (TSE:KRR)

Karora Resources Inc. (TSE:KRR) – Analysts at Desjardins boosted their FY2024 earnings estimates for Karora Resources in a research report issued to clients and investors on Monday, May 13th. Desjardins analyst J. Sclodnick now expects that the company will earn $0.61 per share for the year, up from their previous forecast of $0.31. Desjardins has a “Tender” rating and a $5.65 price objective on the stock. The consensus estimate for Karora Resources’ current full-year earnings is $0.31 per share. Desjardins also issued estimates for Karora Resources’ FY2025 earnings at $0.83 EPS.

Several other research analysts also recently commented on KRR. Canaccord Genuity Group cut their target price on shares of Karora Resources from C$8.73 to C$6.25 in a research report on Tuesday, April 23rd. CIBC upgraded Karora Resources from a “neutral” rating to an “outperform” rating and increased their target price for the company from C$5.25 to C$6.50 in a research note on Wednesday, February 7th. Finally, Eight Capital downgraded Karora Resources from a “buy” rating to a “neutral” rating and dropped their price target for the stock from C$7.00 to C$5.90 in a research report on Wednesday, April 10th.

Karora Resources Price Performance

Shares of Karora Resources stock opened at C$5.63 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.04 and a debt-to-equity ratio of 17.18. The firm has a fifty day simple moving average of C$5.18 and a 200-day simple moving average of C$4.69. The stock has a market capitalization of C$1.01 billion, a price-to-earnings ratio of 112.60 and a beta of 2.08. Karora Resources has a 1-year low of C$3.60 and a 1-year high of C$5.77.

Karora Resources (TSE:KRR) last posted its earnings results on Friday, March 22nd. The company reported C$0.02 earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.05). Karora Resources had a return on equity of 2.49% and a net margin of 2.14%. The company had revenue of C$101.78 million during the quarter.

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.