Shares of Klondex Mines Ltd (NYSEAMERICAN:KLDX) traded down 12.2% during mid-day trading on Thursday . The company traded as low as $1.61 and last traded at $2.09. 4,146,600 shares were traded during trading, an increase of 155% from the average session volume of 1,627,700 shares. The stock had previously closed at $2.38.

A number of analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $6.25 price target on shares of Klondex Mines in a report on Friday, November 10th. Canaccord Genuity raised Klondex Mines from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Roth Capital assumed coverage on Klondex Mines in a report on Wednesday, October 4th. They set a “buy” rating and a $5.25 price target for the company. BidaskClub downgraded Klondex Mines from a “sell” rating to a “strong sell” rating in a report on Saturday, October 21st. Finally, Zacks Investment Research downgraded Klondex Mines from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Klondex Mines currently has an average rating of “Hold” and a consensus target price of $4.67.

The company has a market cap of $427.47, a price-to-earnings ratio of -35.50 and a beta of 0.03.

A number of hedge funds have recently modified their holdings of the stock. U S Global Investors Inc. increased its position in Klondex Mines by 0.6% in the 3rd quarter. U S Global Investors Inc. now owns 11,168,833 shares of the basic materials company’s stock valued at $39,942,000 after acquiring an additional 68,833 shares during the period. Formula Growth Ltd. acquired a new position in Klondex Mines in the 2nd quarter valued at about $23,468,000. State Street Corp acquired a new position in Klondex Mines in the 2nd quarter valued at about $10,076,000. Global X MANAGEMENT CO LLC increased its position in Klondex Mines by 7.3% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,489,193 shares of the basic materials company’s stock valued at $9,056,000 after acquiring an additional 168,363 shares during the period. Finally, Northern Trust Corp increased its position in Klondex Mines by 6,814.4% in the 2nd quarter. Northern Trust Corp now owns 1,550,405 shares of the basic materials company’s stock valued at $5,225,000 after acquiring an additional 1,527,982 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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