Klondex Mines Ltd (KLDX) Short Interest Update

Klondex Mines Ltd (NYSEAMERICAN:KLDX) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 7,296,969 shares, a drop of 5.3% from the May 15th total of 7,707,534 shares. Based on an average daily volume of 1,180,498 shares, the short-interest ratio is currently 6.2 days.

Several institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC bought a new position in shares of Klondex Mines during the 1st quarter valued at $734,000. Guggenheim Capital LLC raised its holdings in shares of Klondex Mines by 27.2% during the 1st quarter. Guggenheim Capital LLC now owns 377,922 shares of the basic materials company’s stock valued at $888,000 after purchasing an additional 80,912 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Klondex Mines by 80.3% during the 1st quarter. Jane Street Group LLC now owns 282,928 shares of the basic materials company’s stock valued at $665,000 after purchasing an additional 126,027 shares in the last quarter. UBS Group AG raised its holdings in shares of Klondex Mines by 84.0% during the 1st quarter. UBS Group AG now owns 2,475,309 shares of the basic materials company’s stock valued at $5,817,000 after purchasing an additional 1,129,898 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in shares of Klondex Mines by 631.2% during the 1st quarter. Citadel Advisors LLC now owns 161,478 shares of the basic materials company’s stock valued at $379,000 after purchasing an additional 139,395 shares in the last quarter.

Klondex Mines stock opened at $2.47 on Wednesday. Klondex Mines has a 1-year low of $1.29 and a 1-year high of $3.89.

Klondex Mines (NYSEAMERICAN:KLDX) last released its quarterly earnings results on Thursday, May 3rd. The basic materials company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The firm had revenue of $56.80 million for the quarter, compared to analyst estimates of $76.62 million. The company’s quarterly revenue was up 36.2% on a year-over-year basis.

A number of equities research analysts have issued reports on the stock. HC Wainwright set a $5.00 target price on shares of Klondex Mines and gave the company a “buy” rating in a research note on Thursday, March 15th. Zacks Investment Research raised shares of Klondex Mines from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. Roth Capital reissued a “neutral” rating on shares of Klondex Mines in a research note on Tuesday, March 20th. Finally, Clarus Securities reissued 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 issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $2.82.

About Klondex Mines

Klondex Mines Ltd., together with its subsidiaries, acquires, explores, develops, and produces mineral properties in the United States and Canada. It primarily explores for gold and silver deposits. The company holds 100% interests in the Fire Creek mine covering approximately 19,000 acres located in Lander County; the Midas mine and ore milling facility covering approximately 30,000 acres situated in Elko County; and the Hollister mine approximately 18,000 acres located in Elko County.

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