Price Don’t Lie: Could Klondex Mines Ltd Decline After Today’s Significant Increase?

Price Don't Lie: Could Klondex Mines Ltd Decline After Today's Significant Increase?

The stock of Klondex Mines Ltd (NYSEMKT:KLDX) is a huge mover today! The stock increased 2.45% or $0.12 on November 22, hitting $5.01. About 178,533 shares traded hands. Klondex Mines Ltd (NYSEMKT:KLDX) has risen 36.59% since April 20, 2016 and is uptrending. It has outperformed by 32.04% the S&P500.
The move comes after 5 months positive chart setup for the $730.17 million company. It was reported on Nov, 22 by Barchart.com. We have $5.41 PT which if reached, will make NYSEMKT:KLDX worth $58.41M more.

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. The rating was downgraded by Canaccord Genuity to “Hold” on Thursday, September 15. Rodman & Renshaw initiated it with “Buy” rating and $4.75 target price in Monday, May 2 report.

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 recent Klondex Mines Ltd (NYSEMKT:KLDX) news were published by: Reuters.com which released: “BRIEF-Klondex Mines Ltd reiterates 2016 production guidance” on October 13, 2016. Also Marketwatch.com published the news titled: “Klondex Mines Ltd. NYSE MKT: KLDX” on October 08, 2015. Streetinsider.com‘s news article titled: “Form 6-K KLONDEX MINES LTD For: Nov 17” with publication date: November 17, 2016 was also an interesting one.

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