TD Securities raised its price target on K92 Mining Inc. (KNT.TO) to $18 from $17 on Monday.

Analyst Wayne Lam maintained a Buy rating on shares of the Vancouver-based mining company that owns and operates the Kainantu Gold Mine in Papua New Guinea.

"We highlight KNT as our best Smidcap idea with the impending commissioning of the new Stage 3 mill presenting a peer-leading growth profile ahead," Lam said in a note to clients.

"We view the Stage 3 expansion as the first in a series of potential step changes in output via a Tier 1 asset globally," the analyst said.

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