Klondex Mines Ltd (KLDX) Rating Reiterated by HC Wainwright
Klondex Mines Ltd (NASDAQ:KLDX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Friday. They presently have a $6.25 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 172.93% from the stock’s previous close.
A number of other equities analysts also recently weighed in on KLDX. Zacks Investment Research downgraded shares of Klondex Mines from a “buy” rating to a “hold” rating in a research note on Saturday, July 29th. Roth Capital began coverage on shares of Klondex Mines in a research note on Wednesday, October 4th. They set a “buy” rating and a $5.25 price target on the stock. Finally, Canaccord Genuity raised shares of Klondex Mines from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $5.08.
Klondex Mines (NASDAQ:KLDX) traded down $0.21 during trading hours on Friday, reaching $2.29. 3,484,102 shares of the company’s stock were exchanged, compared to its average volume of 1,040,000. Klondex Mines has a 12 month low of $2.25 and a 12 month high of $5.91.
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In related news, Director Blair Albert Schultz purchased 25,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average price of $3.17 per share, with a total value of $79,250.00. Following the completion of the purchase, the director now directly owns 113,333 shares in the company, valued at approximately $359,265.61. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several hedge funds have recently modified their holdings of KLDX. Formula Growth Ltd. purchased a new position in shares of Klondex Mines in the 2nd quarter valued at $23,468,000. State Street Corp purchased a new position in shares of Klondex Mines in the 2nd quarter valued at $10,076,000. Northern Trust Corp raised its stake in shares of Klondex Mines by 6,814.4% in the 2nd quarter. Northern Trust Corp now owns 1,550,405 shares of the company’s stock valued at $5,225,000 after acquiring an additional 1,527,982 shares during the period. U S Global Investors Inc. raised its stake in shares of Klondex Mines by 5.6% in the 2nd quarter. U S Global Investors Inc. now owns 11,100,000 shares of the company’s stock valued at $35,159,000 after acquiring an additional 592,400 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Klondex Mines by 190.0% in the 1st quarter. Renaissance Technologies LLC now owns 891,101 shares of the company’s stock valued at $3,471,000 after acquiring an additional 583,801 shares during the period.
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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