Canaccord Genuity Downgrades Klondex Mines (KLDX) to Hold

Canaccord Genuity cut shares of Klondex Mines (NYSEAMERICAN:KLDX) from a buy rating to a hold rating in a research report report published on Wednesday.

Other analysts have also issued reports about the stock. Royal Bank of Canada lowered shares of Klondex Mines from an outperform rating to a sector perform rating in a report on Wednesday. Roth Capital set a $4.00 price objective on shares of Klondex Mines and gave the stock a buy rating in a report on Wednesday, January 10th. HC Wainwright restated a buy rating and issued a $6.25 price objective on shares of Klondex Mines in a report on Friday, October 20th. Zacks Investment Research lowered shares of Klondex Mines from a hold rating to a strong sell rating in a report on Wednesday, December 20th. Finally, TheStreet lowered shares of Klondex Mines from a c rating to a d+ rating in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $4.67.

Shares of Klondex Mines (NYSEAMERICAN:KLDX) opened at $1.77 on Wednesday. The stock has a market capitalization of $407.71, a PE ratio of -29.50 and a beta of -0.16. Klondex Mines has a 12 month low of $1.61 and a 12 month high of $5.91.

Klondex Mines (NYSEAMERICAN:KLDX) last issued its quarterly earnings data on Thursday, November 9th. The basic materials company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.08). The business had revenue of $48.90 million for the quarter, compared to analyst estimates of $64.08 million. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year.

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its holdings in Klondex Mines by 164.8% in 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 during the last quarter. Bank of Nova Scotia raised its holdings in Klondex Mines by 142.0% in 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 during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Klondex Mines by 83.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 66,217 shares of the basic materials company’s stock worth $241,000 after acquiring an additional 30,040 shares during the last quarter. Highstreet Asset Management Inc. raised its holdings in Klondex Mines by 159.6% in the 4th quarter. Highstreet Asset Management Inc. now owns 58,553 shares of the basic materials company’s stock worth $152,000 after acquiring an additional 35,999 shares during the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new position in Klondex Mines in the 2nd quarter worth approximately $136,000.

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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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