Klondex Mines (KDX) Reaches New 1-Year Low on Analyst Downgrade
Klondex Mines Ltd (TSE:KDX) hit a new 52-week low on Wednesday after CIBC lowered their price target on the stock from C$4.25 to C$3.25. The stock traded as low as C$2.10 and last traded at C$2.96, with a volume of 575922 shares. The stock had previously closed at C$2.95.
KDX has been the topic of a number of other research reports. BMO Capital Markets dropped their price objective on Klondex Mines from C$3.75 to C$3.25 and set a “market perform” rating on the stock in a report on Wednesday. Scotiabank dropped their price objective on Klondex Mines from C$5.25 to C$4.50 and set a “sector perform” rating on the stock in a report on Wednesday. Roth Capital reiterated a “buy” rating and issued a C$5.25 price objective on shares of Klondex Mines in a report on Wednesday, October 4th. Canaccord Genuity increased their price objective on Klondex Mines from C$5.50 to C$6.00 in a report on Friday, September 29th. Finally, Pi Financial upgraded Klondex Mines from a “neutral” rating to a “buy” rating and increased their price objective for the company from C$4.15 to C$4.85 in a report on Wednesday, September 20th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of C$4.80.
The company has a market capitalization of $480.94, a PE ratio of -11.57 and a beta of -0.38.
Klondex Mines Company Profile
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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