Klondex Mines (KLDX) Shares Up 10.3%

Klondex Mines Ltd (NYSEAMERICAN:KLDX)’s share price rose 10.3% during trading on Tuesday . The company traded as high as $2.84 and last traded at $2.78. Approximately 1,632,199 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 1,294,479 shares. The stock had previously closed at $2.52.

KLDX has been the subject of a number of research reports. BidaskClub downgraded Klondex Mines from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. HC Wainwright reiterated a “buy” rating and set a $6.25 price objective on shares of Klondex Mines in a research report on Friday, October 20th. Canaccord Genuity upgraded Klondex Mines from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. TheStreet downgraded Klondex Mines from a “c” rating to a “d+” rating in a research report on Friday, November 10th. Finally, Roth Capital began coverage on Klondex Mines in a research report on Wednesday, October 4th. They set a “buy” rating and a $5.25 price objective for the company. Three analysts have rated the stock with a sell rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.08.

The firm has a market cap of $443.63, a PE ratio of -45.00 and a beta of 0.04.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sentry Investments Corp. lifted its position in Klondex Mines by 2.5% in the second quarter. Sentry Investments Corp. now owns 13,228,900 shares of the basic materials company’s stock worth $57,810,000 after purchasing an additional 328,900 shares during the period. U S Global Investors Inc. lifted its position in Klondex Mines by 0.6% in the third quarter. U S Global Investors Inc. now owns 11,168,833 shares of the basic materials company’s stock worth $39,942,000 after purchasing an additional 68,833 shares during the period. Formula Growth Ltd. acquired a new stake in Klondex Mines in the second quarter worth approximately $23,468,000. State Street Corp acquired a new stake in Klondex Mines in the second quarter worth approximately $10,076,000. Finally, Global X MANAGEMENT CO LLC lifted its position in Klondex Mines by 7.3% in the third quarter. Global X MANAGEMENT CO LLC now owns 2,489,193 shares of the basic materials company’s stock worth $9,056,000 after purchasing an additional 168,363 shares during the period.

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Klondex Mines Company Profile

Klondex Mines Ltd is a Canada-based gold and silver mining company. The Company focuses on exploration, development and production of over two gold and silver projects in north central Nevada, being the Fire Creek mine located in Lander County, Nevada, the Midas mine and ore milling facility located in Nevada.

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