Zacks Investment Research cut shares of Klondex Mines (NYSEAMERICAN:KLDX) from a hold rating to a strong sell rating in a research note published on Wednesday.

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 analysts have also recently issued research reports about the company. ValuEngine cut Klondex Mines from a hold rating to a sell rating in a report on Thursday, August 24th. BidaskClub upgraded Klondex Mines from a strong sell rating to a sell rating in a report on Wednesday, September 6th. Canaccord Genuity upgraded Klondex Mines from a hold rating to a buy rating in a report on Monday, September 18th. HC Wainwright restated a buy rating on shares of Klondex Mines in a report on Tuesday, September 19th. Finally, Roth Capital started coverage on Klondex Mines in a report on Wednesday, October 4th. They issued a buy rating and a $5.25 price target for the company. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $5.00.

Shares of Klondex Mines (NYSEAMERICAN KLDX) opened at $2.52 on Wednesday. The company has a market capitalization of $443.63, a PE ratio of -42.00 and a beta of 0.04. Klondex Mines has a 52-week low of $2.16 and a 52-week high of $5.91.

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its position 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 acquiring an additional 26,451 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in Klondex Mines during the 2nd quarter worth approximately $136,000. Legal & General Group Plc acquired a new position in Klondex Mines during the 2nd quarter worth approximately $157,000. Cubist Systematic Strategies LLC acquired a new position in Klondex Mines during the 2nd quarter worth approximately $162,000. Finally, Bank of Nova Scotia lifted its position in Klondex Mines by 142.0% during the 2nd quarter. Bank of Nova Scotia now owns 49,280 shares of the basic materials company’s stock worth $166,000 after acquiring an additional 28,914 shares in the last quarter.

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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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