12:40 PM EDT, 05/12/2026 (MT Newswires) -- Stifel Canada on Tuesday reiterated its buy rating on the shares of K92 Mining (KNT.TO) and its C$39.00 price target after the Papua New Guinea miner released its first-quarter results.

"KNT reported Q1/26 adjusted EPS of $0.47 vs. our $0.43 (consensus $0.41) and EBITDA of $179.9Mln vs. our $169.0Mln (consensus $168.6Mln) on pre-released GEO production of 46.7Koz (44.0Koz Au + 1.70Mln lbs Cu + 38.8Koz Ag). Q1/26 EBITDA and EPS beat on higher GEO sales and lower exploration and tax expenses. Q1/26 cash cost of $785/oz (+13% vs. consensus $693/oz) and AISC of $1,421/oz, were above the FY26 guidance range reflecting higher operating costs during Stage 3 ramp up and lower gold head grade of 10.2g/t, partially offset by higher by-product credits. FY26 guidance was reiterated (GEO production of 190-225Koz at a cash cost $710-770/oz and AISC $1,250-1,350/oz) with production weighted to H2/26 from two new mining fronts and completion of expansion enablers. Stage 4 Expansion ventilation electrification is scheduled for mid-2026; and paste-fill practical completion is on track for Q4/26 with final commissioning in Q1/27,"analyst Ralph Profiti wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

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