Bullish Gap Up for Klondex Mines Ltd After Better Fundamentals

 Bullish Gap Up for Klondex Mines Ltd After Better Fundamentals

The stock of Klondex Mines Ltd (TSE:KDX) gapped up by $0.02 today and has $9.47 target or 31.00% above today’s $7.23 share price. The 5 months technical chart setup indicates low risk for the $1.11 billion company. The gap was reported on Oct, 19 by Barchart.com. If the $9.47 price target is reached, the company will be worth $344.10 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 369,225 shares traded hands. Klondex Mines Ltd (TSE:KDX) has risen 87.89% since March 14, 2016 and is uptrending. It has outperformed by 82.35% the S&P500.

Klondex Mines Ltd (TSE:KDX) Ratings Coverage

Out of 5 analysts covering Klondex Mines Ltd. (TSE:KDX), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Klondex Mines Ltd. has been the topic of 11 analyst reports since September 18, 2015 according to StockzIntelligence Inc. The stock of Klondex Mines Ltd (TSE:KDX) has “Buy” rating given on Friday, September 25 by Dundee Securities. The company was maintained on Friday, December 18 by RBC Capital Markets. The firm has “Outperform” rating by Ringler Research given on Friday, September 18. The rating was maintained by BMO Capital Markets on Monday, August 22 with “Market Perform”. The company was maintained on Thursday, August 11 by Scotia Capital. Ringler Research downgraded Klondex Mines Ltd (TSE:KDX) rating on Wednesday, October 7. Ringler Research has “Sector Perform” rating and $3.80 price target. Scotia Capital maintained the shares of KDX in a report on Friday, October 14 with “Sector Perform” rating.

More news for Klondex Mines Ltd (TSE:KDX) were recently published by: Reuters.com, which released: “BRIEF-Klondex Mines Ltd reiterates 2016 production guidance” on October 05, 2016. Marketwatch.com‘s article titled: “Klondex Mines Ltd. NYSE MKT: KLDX” and published on October 08, 2015 is yet another important article.

Klondex Mines Ltd. is a Canada-based gold and silver mining company. The company has a market cap of $1.11 billion. The Firm 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 , and the Midas mine (the Midas Mine) and ore milling facility located in Nevada (together with the Midas Mine, the Midas Project or Midas). It has a 48.96 P/E ratio. The Company’s divisions include Fire Creek, Midas, and Corporate and other.

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