Klondex Mines Receives a Buy from H.C. Wainwright

By Carrie Williams

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Klondex Mines (NYSE: KLDX) on June 22 and set a price target of $6. The company’s shares closed last Friday at $3.62.

Ihle noted:

“We note that mineral resources were calculated using a gold price of $1,400 per ounce and a silver price of $19.83 per ounce, but the resource estimates should not change too much based on the current spot prices. We believe that there may be significant upside potential to the above estimates given that the new high-grade Gloria zone remains fully open to the west and that Hollister is open to the east toward Hatter Graben.”

According to TipRanks.com, Ihle is a 5-star analyst with an average return of 28.5% and a 39.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Gold Standard Ventures Corp, Paramount Gold And Silver, and Endeavour Silver Corp.

Klondex Mines has an analyst consensus of Moderate Buy, with a price target consensus of $6.

Klondex Mines’ market cap is currently $641.9M and has a P/E ratio of 69.08. The company has a book value ratio of 2.3498.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of KLDX in relation to earlier this year.

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Klondex Mines Ltd. engages in the acquisition, exploration, and development of gold and silver properties. It holds interests in Fire Creek Mine, Midas Mine, andTrue North Gold Mine and mill. The company was founded on August 25, 1971 and is headquartered in Vancouver, Canada.,003VZY-E