Klondex Mines (NYSEAMERICAN:KLDX) has been assigned a $4.00 price objective by investment analysts at Roth Capital in a research note issued on Wednesday, January 10th. The brokerage currently has a “buy” rating on the basic materials company’s stock. Roth Capital’s target price points to a potential upside of 96.08% from the stock’s current price.
Several other research firms have also weighed in on KLDX. BidaskClub lowered Klondex Mines from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. HC Wainwright reaffirmed a “buy” rating and issued a $6.25 price objective on shares of Klondex Mines in a research note on Friday, November 10th. TheStreet lowered Klondex Mines from a “c” rating to a “d+” rating in a research note on Friday, November 10th. Zacks Investment Research downgraded Klondex Mines from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 20th. Finally, Canaccord Genuity upgraded Klondex Mines from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Klondex Mines has a consensus rating of “Hold” and an average target price of $4.67.
Klondex Mines (NYSEAMERICAN KLDX) traded up $0.09 during midday trading on Wednesday, hitting $2.04. The stock had a trading volume of 1,559,831 shares, compared to its average volume of 1,326,460. The firm has a market cap of $407.71, a P/E ratio of -34.00 and a beta of -0.16. Klondex Mines has a 12 month low of $1.61 and a 12 month high of $5.91.
Klondex Mines (NYSEAMERICAN:KLDX) last posted its quarterly earnings results on Thursday, November 9th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The company had revenue of $48.90 million during the quarter, compared to analyst estimates of $64.08 million. The company’s revenue was down 12.1% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of KLDX. Formula Growth Ltd. purchased a new position in Klondex Mines in the second quarter worth $23,468,000. State Street Corp purchased a new position in Klondex Mines in the second quarter worth $10,076,000. Northpointe Capital LLC purchased a new position in shares of Klondex Mines during the 4th quarter valued at $4,834,000. Northern Trust Corp lifted its position in shares of Klondex Mines by 6,814.4% during the 2nd quarter. Northern Trust Corp now owns 1,550,405 shares of the basic materials company’s stock valued at $5,225,000 after buying an additional 1,527,982 shares during the last quarter. Finally, U S Global Investors Inc. lifted its position in shares of Klondex Mines by 5.6% during the 2nd quarter. U S Global Investors Inc. now owns 11,100,000 shares of the basic materials company’s stock valued at $35,159,000 after buying an additional 592,400 shares during the last quarter.
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About Klondex Mines
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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