Klondex Mines Ltd. (KDX) Given Consensus Recommendation of “Hold” by Analysts
Shares of Klondex Mines Ltd. (TSE:KDX) have been assigned an average rating of “Hold” from the eleven analysts that are covering the stock. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$7.06.
A number of analysts have commented on KDX shares. Canaccord Genuity downgraded Klondex Mines from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$6.75 to C$8.00 in a research report on Thursday, September 15th. Scotiabank reissued a “sector perform” rating and issued a C$8.00 target price on shares of Klondex Mines in a report on Wednesday, October 12th. BMO Capital Markets reissued a “market perform” rating and issued a C$7.25 target price on shares of Klondex Mines in a report on Monday, August 22nd. CIBC initiated coverage on Klondex Mines in a report on Friday, September 30th. They issued a “sector perform” rating and a C$8.00 target price for the company. Finally, M Partners reissued a “buy” rating on shares of Klondex Mines in a report on Monday, July 18th.
Klondex Mines (TSE:KDX) traded up 0.84% during trading on Wednesday, reaching $7.20. The company had a trading volume of 415,199 shares. The stock has a 50 day moving average of $7.10 and a 200-day moving average of $5.57. Klondex Mines has a 12 month low of $2.56 and a 12 month high of $7.84. The company has a market capitalization of $1.04 billion and a P/E ratio of 65.45.
About Klondex Mines
Klondex Mines Ltd. is a Canada-based gold and silver mining company. The Company is focused on exploration, development and production of its approximately two gold and silver projects in north central Nevada, such as the Fire Creek mine located in Lander County, Nevada (the Fire Creek Mine or the Fire Creek Project), and the Midas mine (the Midas Mine) and ore milling facility located in Nevada (together with the Midas Mine, the Midas Project or Midas).
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