Could Klondex Mines Ltd Change Direction After Today’s Huge Decline?

 Could Klondex Mines Ltd Change Direction After Today's Huge Decline?

The stock of Klondex Mines Ltd (TSE:KDX) is a huge mover today! About 387,751 shares traded hands. Klondex Mines Ltd (TSE:KDX) has risen 114.99% since March 31, 2016 and is uptrending. It has outperformed by 113.90% the S&P500.
The move comes after 9 months negative chart setup for the $1.03 billion company. It was reported on Nov, 4 by Barchart.com. We have $6.75 PT which if reached, will make TSE:KDX worth $51.50M less.

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. $8.50 is the highest target while $3.10 is the lowest. The $6.46 average target is -9.01% below today’s ($7.1) stock price. Klondex Mines Ltd. has been the topic of 12 analyst reports since September 18, 2015 according to StockzIntelligence Inc. The company was reinitiated on Friday, September 25 by Dundee Securities. Scotia Capital maintained the shares of KDX in a report on Thursday, August 11 with “Outperform” rating. RBC Capital Markets maintained Klondex Mines Ltd (TSE:KDX) on Friday, December 18 with “Outperform” rating. The company was downgraded on Wednesday, October 7 by Ringler Research. The rating was maintained by Scotia Capital with “Sector Perform” on Friday, October 14. BMO Capital Markets maintained Klondex Mines Ltd (TSE:KDX) on Monday, August 22 with “Market Perform” rating. Ringler Research maintained it with “Outperform” rating and $3.10 target price in Friday, September 18 report.

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 13, 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 $1.03 billion. The Firm 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. It has a 47.07 P/E ratio. The Company’s divisions include Fire Creek, Midas, True North, and Corporate and other.

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