January 10, 2018 / 4:03 PM / a year ago

BUZZ-Klondex Mines Ltd: BMO cuts PT on lowered activity at mine

** Canada-based gold miner’s shares opened 41 pct lower at C$2.10, its lowest in 3 yrs; U.S. shares also touched lowest since listing in 2015 at $1.61

** BMO cuts PT to C$3.25 from C$3.75 after Klondex said it would reduce mining activity at its True North mine near Winnipeg, and place it under care and maintenance status

** On Tuesday, KDX cut its FY17 prod guidance from the mine to 24,000-27,000 ounces from 35,000-45,000 ounces

** 8 of 11 brokerages rate the stock “buy” or higher, and 3 “hold”; median PT C$4.85

** Klondex stock fell 48 pct in 2017 (Reporting by Karan Nagarkatti)

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