Klondex Mines (KLDX) Raised to “Hold” at Zacks Investment Research

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

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. “

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A number of other analysts have also recently commented on KLDX. Roth Capital cut Klondex Mines from a buy rating to a hold rating and dropped their price objective for the stock from $3.00 to $2.00 in a research report on Monday, March 19th. HC Wainwright set a $5.00 price objective on Klondex Mines and gave the stock a buy rating in a research report on Thursday, March 15th. Clarus Securities reiterated a speculative buy rating on shares of Klondex Mines in a research report on Friday, March 16th. Canaccord Genuity cut Klondex Mines from a buy rating to a hold rating in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada cut Klondex Mines from an outperform rating to a sector perform rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Klondex Mines presently has a consensus rating of Hold and a consensus target price of $2.82.

Klondex Mines stock opened at $2.38 on Tuesday. Klondex Mines has a 52 week low of $1.29 and a 52 week high of $4.01.

Klondex Mines (NYSEAMERICAN:KLDX) last posted its quarterly earnings data on Wednesday, March 14th. The basic materials company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $63.30 million for the quarter, compared to analysts’ expectations of $69.75 million.

In other Klondex Mines news, insider Mining Parallel Fund Waterton purchased 164,734 shares of the stock in a transaction on Thursday, March 8th. The stock was bought at an average price of $1.37 per share, for a total transaction of $225,685.58. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired a total of 3,513,530 shares of company stock valued at $4,835,896 in the last 90 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. U S Global Investors Inc. grew its holdings in Klondex Mines by 0.6% in the 3rd quarter. U S Global Investors Inc. now owns 11,168,833 shares of the basic materials company’s stock valued at $39,942,000 after buying an additional 68,833 shares during the period. Northpointe Capital LLC acquired a new position in shares of Klondex Mines in the 4th quarter valued at about $4,834,000. Goldman Sachs Group Inc. lifted its stake in shares of Klondex Mines by 1,114.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,092,438 shares of the basic materials company’s stock valued at $2,851,000 after purchasing an additional 1,002,499 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Klondex Mines by 70.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 484,794 shares of the basic materials company’s stock valued at $1,265,000 after purchasing an additional 200,355 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Klondex Mines by 1,063.3% in the 2nd quarter. Vanguard Group Inc. now owns 469,352 shares of the basic materials company’s stock valued at $1,581,000 after purchasing an additional 429,005 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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