Short Interest in Klondex Mines Ltd (KLDX) Rises By 10.5%
Klondex Mines Ltd (NYSEAMERICAN:KLDX) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 19,877,369 shares, an increase of 10.5% from the November 30th total of 17,984,258 shares. Based on an average trading volume of 2,215,672 shares, the days-to-cover ratio is presently 9.0 days. Currently, 11.3% of the shares of the company are sold short.
Shares of Klondex Mines (NYSEAMERICAN KLDX) traded down $0.08 during trading on Wednesday, hitting $2.70. The stock had a trading volume of 1,348,418 shares, compared to its average volume of 1,294,696. The firm has a market capitalization of $443.63, a PE ratio of -45.00 and a beta of 0.04. Klondex Mines has a 1-year low of $2.16 and a 1-year high of $5.91.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its holdings in Klondex Mines by 164.8% during the third quarter. Virtu Financial LLC now owns 42,504 shares of the basic materials company’s stock valued at $108,000 after buying an additional 26,451 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Klondex Mines by 141.1% in the third quarter. Cubist Systematic Strategies LLC now owns 115,585 shares of the basic materials company’s stock worth $421,000 after purchasing an additional 67,635 shares during the period. U S Global Investors Inc. increased its stake in shares of Klondex Mines by 0.6% in the third quarter. U S Global Investors Inc. now owns 11,168,833 shares of the basic materials company’s stock worth $39,942,000 after purchasing an additional 68,833 shares during the period. Jane Street Group LLC increased its stake in shares of Klondex Mines by 1,365.7% in the third quarter. Jane Street Group LLC now owns 255,192 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 237,781 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of Klondex Mines by 54.0% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 330,687 shares of the basic materials company’s stock worth $1,204,000 after purchasing an additional 115,944 shares during the period.
Several brokerages have recently issued reports on KLDX. HC Wainwright reiterated a “buy” rating and set a $6.25 price target on shares of Klondex Mines in a research report on Tuesday. Zacks Investment Research cut Klondex Mines from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 20th. TheStreet cut Klondex Mines from a “c” rating to a “d+” rating in a research report on Friday, November 10th. BidaskClub cut Klondex Mines from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 21st. Finally, Roth Capital reiterated a “buy” rating and set a $5.25 price target on shares of Klondex Mines in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Klondex Mines presently has a consensus rating of “Hold” and a consensus target price of $5.08.
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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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