Stock analysts at Roth Capital started coverage on shares of Klondex Mines Ltd (NASDAQ:KLDX) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating and a $5.25 price target on the stock. Roth Capital’s target price would suggest a potential upside of 41.89% from the stock’s previous close.

Several other analysts have also issued reports on KLDX. HC Wainwright reiterated a “buy” rating and set a $6.25 target price on shares of Klondex Mines in a report on Tuesday, September 19th. Canaccord Genuity raised Klondex Mines from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Finally, Zacks Investment Research cut Klondex Mines from a “buy” rating to a “hold” rating in a research note on Saturday, July 29th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Klondex Mines presently has an average rating of “Buy” and a consensus price target of $5.08.

Klondex Mines (NASDAQ:KLDX) traded up 2.97% during trading on Wednesday, reaching $3.81. The company’s stock had a trading volume of 726,737 shares. Klondex Mines has a 52 week low of $2.81 and a 52 week high of $5.94. The company’s market cap is $675.56 million. The company’s 50 day moving average price is $3.42 and its 200 day moving average price is $3.46.

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In other Klondex Mines news, Director Blair Albert Schultz purchased 25,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were purchased at an average price of $3.17 per share, with a total value of $79,250.00. Following the completion of the transaction, the director now directly owns 113,333 shares in the company, valued at $359,265.61. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Several hedge funds have recently made changes to their positions in KLDX. Sentry Investments Corp. grew its stake in Klondex Mines by 2.5% in the 2nd quarter. Sentry Investments Corp. now owns 13,228,900 shares of the company’s stock valued at $57,810,000 after buying an additional 328,900 shares during the last quarter. U S Global Investors Inc. lifted its position in Klondex Mines by 5.6% during the second quarter. U S Global Investors Inc. now owns 11,100,000 shares of the company’s stock worth $35,159,000 after acquiring an additional 592,400 shares during the last quarter. U S Global Investors Inc lifted its position in Klondex Mines by 104,976.0% during the first quarter. U S Global Investors Inc now owns 10,507,600 shares of the company’s stock worth $40,851,765,000 after acquiring an additional 10,497,600 shares during the last quarter. Formula Growth Ltd. acquired a new stake in Klondex Mines during the second quarter worth approximately $23,468,000. Finally, Wellington Management Group LLP lifted its position in Klondex Mines by 129.1% during the first quarter. Wellington Management Group LLP now owns 4,087,254 shares of the company’s stock worth $15,905,000 after acquiring an additional 2,302,918 shares during the last quarter.

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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