Klondex Mines (KLDX) Downgraded by Roth Capital to Hold

Mine, BNN file

Mine, BNN file

Canaccord Genuity downgraded shares of Klondex Mines from a buy rating to a hold rating and decreased their price target for the stock from C$4.15 to C$2.75 in a research note on Wednesday, February 7th. Scotiabank reduced their price objective on Klondex Mines from C$3.00 to C$2.75 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Zacks Investment Research lowered Klondex Mines from a hold rating to a strong sell rating in a research report on Wednesday, December 20th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock now has a consensus rating of Hold and an average price target of $3.58.

The sale is subject to approval by Klondex's shareholders, who would receive Hecla shares or $2.47 in cash for each share of Klondex stock they own. 1,556,204 shares of the company traded hands, compared to its average volume of 1,283,240. The firm has a market cap of $314.08, a PE ratio of -11.92 and a beta of -0.18. Klondex Mines has a twelve month low of $1.29 and a twelve month high of $5.17.

In other news, insider Global Resource Manag Waterton bought 19,500 shares of the company's stock in a transaction on Wednesday, March 7th. The stock was bought at an average cost of $1.37 per share, for a total transaction of $225,685.58. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have purchased 3,513,530 shares of company stock valued at $4,835,896. Millennium Management LLC purchased a new position in shares of Klondex Mines in the 4th quarter worth approximately $269,000. Goldman Sachs Group Inc. raised its holdings in Klondex Mines by 1,114.6% during the 4th quarter. Roth Capital now has $2.00 target price on the basic materials company's stock.

VANCOUVER-Hecla Mining Co. says it's buying Vancouver-based gold miner Klondex Mines Ltd. for $605 million with a mix of cash and shares. 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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