Klondex Mines Ltd (NYSEAMERICAN:KLDX) rose 10.3% on Tuesday . The stock traded as high as $2.84 and last traded at $2.78. Approximately 1,632,199 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 1,294,479 shares. The stock had previously closed at $2.52.

KLDX has been the topic of several analyst reports. BidaskClub lowered shares of Klondex Mines from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. HC Wainwright reaffirmed a “buy” rating and issued a $6.25 target price on shares of Klondex Mines in a report on Friday, November 10th. Roth Capital reissued a “buy” rating and set a $5.25 price objective on shares of Klondex Mines in a report on Wednesday, October 4th. TheStreet lowered shares of Klondex Mines from a “c” rating to a “d+” rating in a report on Friday, November 10th. Finally, Zacks Investment Research lowered shares of Klondex Mines from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $5.08.

The company has a market capitalization of $443.63, a PE ratio of -46.33 and a beta of 0.04.

Institutional investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC acquired a new stake in shares of Klondex Mines in the 2nd quarter valued at approximately $136,000. Virtu Financial LLC raised its position in shares of Klondex Mines by 164.8% in the 3rd quarter. Virtu Financial LLC now owns 42,504 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 26,451 shares during the period. Legal & General Group Plc acquired a new stake in shares of Klondex Mines in the 2nd quarter valued at approximately $157,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Klondex Mines in the 2nd quarter valued at approximately $162,000. Finally, Bank of Nova Scotia raised its position in shares of 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 valued at $166,000 after acquiring an additional 28,914 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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