Market Runner: Could Klondex Mines Ltd Change Direction After Today’s Big Decline?

Market Runner: Could Klondex Mines Ltd Change Direction After Today's Big Decline?

The stock of Klondex Mines Ltd (NYSEMKT:KLDX) is a huge mover today! The stock decreased 3.39% or $0.19 on November 4, hitting $5.41. About 485,502 shares traded hands or 56.45% up from the average. Klondex Mines Ltd (NYSEMKT:KLDX) has risen 108.96% since April 4, 2016 and is uptrending. It has outperformed by 107.86% the S&P500.
The move comes after 7 months negative chart setup for the $814.56M company. It was reported on Nov, 4 by Barchart.com. We have $5.03 PT which if reached, will make NYSEMKT:KLDX worth $57.02 million less.

Analysts await Klondex Mines Ltd (NYSEMKT:KLDX) to report earnings on November, 9. They expect $0.07 earnings per share, up 75.00% or $0.03 from last year’s $0.04 per share. KLDX’s profit will be $10.54M for 19.32 P/E if the $0.07 EPS becomes a reality. After $0.04 actual earnings per share reported by Klondex Mines Ltd for the previous quarter, Wall Street now forecasts 75.00% EPS growth.

Klondex Mines Ltd (NYSEMKT:KLDX) Ratings Coverage

Out of 2 analysts covering Klondex Mines (NYSEMKT:KLDX), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Klondex Mines has been the topic of 2 analyst reports since May 2, 2016 according to StockzIntelligence Inc. Canaccord Genuity downgraded the stock to “Hold” rating in Thursday, September 15 report. On Monday, May 2 the stock rating was initiated by Rodman & Renshaw with “Buy”.

According to Zacks Investment Research, “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.”

More news for Klondex Mines Ltd (NYSEMKT:KLDX) 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.

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