Klondex Mines Ltd (NASDAQ:KLDX) Stock Rating Upgraded by Zacks Investment Research

Klondex Mines Ltd (NASDAQ:KLDX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

A number of other equities research analysts have also weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Klondex Mines in a research note on Sunday, June 25th. TheStreet cut shares of Klondex Mines from a “b-” rating to a “c” rating in a research report on Thursday, March 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Klondex Mines (NASDAQ KLDX) opened at 3.20 on Thursday. The stock’s 50 day moving average is $3.35 and its 200 day moving average is $4.25. Klondex Mines has a one year low of $2.88 and a one year high of $6.03. The firm’s market cap is $567.42 million.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Paloma Partners Management Co acquired a new position in shares of Klondex Mines during the first quarter worth about $303,000. Highbridge Capital Management LLC acquired a new position in shares of Klondex Mines during the first quarter worth about $411,000. MAVEN SECURITIES Ltd acquired a new position in shares of Klondex Mines during the first quarter worth about $101,000. U S Global Investors Inc boosted its position in shares of Klondex Mines by 104,976.0% in the first quarter. U S Global Investors Inc now owns 10,507,600 shares of the company’s stock worth $40,851,765,000 after buying an additional 10,497,600 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Klondex Mines by 190.0% in the first quarter. Renaissance Technologies LLC now owns 891,101 shares of the company’s stock worth $3,471,000 after buying an additional 583,801 shares during the period.

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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