Klondex Mines (KLDX) Trading Down 3.1%

Klondex Mines Ltd (NYSEAMERICAN:KLDX)’s share price traded down 3.1% during trading on Monday . The stock traded as low as $1.94 and last traded at $2.01. 769,699 shares were traded during mid-day trading, a decline of 40% from the average session volume of 1,281,585 shares. The stock had previously closed at $1.95.

Several equities analysts have recently commented on the stock. Roth Capital set a $4.00 price objective on shares of Klondex Mines and gave the stock a “buy” rating in a report on Wednesday, January 10th. HC Wainwright restated a “buy” rating and issued a $6.25 price objective on shares of Klondex Mines in a report on Tuesday, December 26th. Zacks Investment Research lowered shares of Klondex Mines from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 20th. TheStreet lowered shares of Klondex Mines from a “c” rating to a “d+” rating in a report on Friday, November 10th. Finally, BidaskClub lowered shares of Klondex Mines from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $4.67.

The company has a market cap of $407.71, a P/E ratio of -32.50 and a beta of -0.16.

Klondex Mines (NYSEAMERICAN:KLDX) last announced its earnings results on Thursday, November 9th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $48.90 million for the quarter, compared to analysts’ expectations of $64.08 million. The company’s quarterly revenue was down 12.1% compared to the same quarter last year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC increased its stake in Klondex Mines by 164.8% during the 3rd quarter. Virtu Financial LLC now owns 42,504 shares of the basic materials company’s stock worth $108,000 after buying an additional 26,451 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in Klondex Mines during the 2nd quarter worth approximately $136,000. Highstreet Asset Management Inc. increased its stake in Klondex Mines by 159.6% during the 4th quarter. Highstreet Asset Management Inc. now owns 58,553 shares of the basic materials company’s stock worth $152,000 after buying an additional 35,999 shares during the period. Legal & General Group Plc purchased a new stake in shares of Klondex Mines in the 2nd quarter valued at approximately $157,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Klondex Mines in the 2nd quarter valued at approximately $162,000.

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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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