Klondex Mines (KLDX) Shares Down 5.4%

Klondex Mines Ltd (NYSEAMERICAN:KLDX)’s share price dropped 5.4% during mid-day trading on Tuesday . The stock traded as low as $2.27 and last traded at $2.27. Approximately 944,879 shares traded hands during trading, a decline of 24% from the average daily volume of 1,247,331 shares. The stock had previously closed at $2.40.

KLDX has been the subject of several analyst reports. Roth Capital reaffirmed a “buy” rating and set a $5.25 price target on shares of Klondex Mines in a research note on Wednesday, October 4th. HC Wainwright reaffirmed a “buy” rating and set a $6.25 price target on shares of Klondex Mines in a research note on Friday, October 20th. TheStreet downgraded shares of Klondex Mines from a “c” rating to a “d+” rating in a research note on Friday, November 10th. BidaskClub downgraded shares of Klondex Mines from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 21st. Finally, Canaccord Genuity raised shares of Klondex Mines from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.00.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sentry Investments Corp. increased its position in shares of Klondex Mines by 2.5% during the second quarter. Sentry Investments Corp. now owns 13,228,900 shares of the basic materials company’s stock worth $57,810,000 after buying an additional 328,900 shares during the period. U S Global Investors Inc. grew its holdings in Klondex Mines by 0.6% in the third quarter. U S Global Investors Inc. now owns 11,168,833 shares of the basic materials company’s stock worth $39,942,000 after purchasing an additional 68,833 shares during the period. Formula Growth Ltd. acquired a new stake in Klondex Mines in the second quarter worth $23,468,000. State Street Corp acquired a new stake in Klondex Mines in the second quarter worth $10,076,000. Finally, Global X MANAGEMENT CO LLC grew its holdings in Klondex Mines by 7.3% in the third quarter. Global X MANAGEMENT CO LLC now owns 2,489,193 shares of the basic materials company’s stock worth $9,056,000 after purchasing an additional 168,363 shares during the period.

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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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