Zacks Investment Research upgraded shares of Klondex Mines (NYSEAMERICAN:KLDX) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Klondex Mines Ltd. is focused on exploration, development and production of mineral properties. It primarily explores for gold and silver properties in Nevada. The company’s project consists of Fire Creek Property and Midas mine and ore milling. Klondex Mines Ltd. is headquartered in Vancouver, Canada. “
Other research analysts have also issued reports about the stock. Roth Capital set a $4.00 target price on shares of Klondex Mines and gave the stock a buy rating in a research note on Wednesday, January 10th. HC Wainwright reissued a buy rating and set a $6.25 target price on shares of Klondex Mines in a research note on Tuesday, December 26th. Canaccord Genuity lowered shares of Klondex Mines from a buy rating to a hold rating in a research note on Wednesday, February 7th. Royal Bank of Canada lowered shares of Klondex Mines from an outperform rating to a sector perform rating in a research note on Wednesday, February 7th. Finally, Clarus Securities reaffirmed a speculative buy rating on shares of Klondex Mines in a research note on Friday, March 16th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Klondex Mines currently has a consensus rating of Hold and a consensus price target of $2.82.
Shares of NYSEAMERICAN KLDX opened at $2.35 on Tuesday. Klondex Mines has a 12-month low of $1.29 and a 12-month high of $4.01.
Klondex Mines (NYSEAMERICAN:KLDX) last issued its earnings results on Wednesday, March 14th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The company had revenue of $63.30 million for the quarter, compared to the consensus estimate of $69.75 million.
In other Klondex Mines news, insider Mining Parallel Fund Waterton acquired 164,734 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were purchased at an average cost of $1.37 per share, with a total value of $225,685.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired 3,513,530 shares of company stock worth $4,835,896 over the last ninety days.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its position in shares of Klondex Mines by 164.8% during the third quarter. Virtu Financial LLC now owns 42,504 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 26,451 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Klondex Mines during the fourth quarter valued at about $146,000. Highstreet Asset Management Inc. lifted its position in shares of Klondex Mines by 159.6% during the fourth quarter. Highstreet Asset Management Inc. now owns 58,553 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 35,999 shares in the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of Klondex Mines during the fourth quarter valued at about $251,000. Finally, Quadrature Capital Ltd bought a new position in shares of Klondex Mines during the fourth quarter valued at about $256,000.
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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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