Wesdome Gold Mines (TSE:WDO) Rating Lowered to Hold at Stifel Nicolaus

Key Points

• Stifel Nicolaus downgraded Wesdome Gold Mines to “hold” from “buy” while maintaining a C$34.00 price target, implying approximately 8.77% upside. The overall analyst consensus remains “Moderate Buy,” with a C$34.12 average target.
• Wesdome shares fell 1.0% to C$31.26 during Monday trading. The stock has traded between C$19.48 and C$37.22 over the past year and has a C$4.49 billion market capitalization.
• The company reported quarterly earnings of C$0.65 per share on C$266.76 million in revenue, alongside a 38.46% net margin and 43.77% return on equity. Director Anthea Ingrid Bath sold 66,961 shares worth approximately C$2.09 million.

Wesdome Gold Mines (TSE:WDO - Get Free Report) was downgraded by research analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a report issued on Monday, BayStreet reports. They currently have a C$34.00 target price on the stock. Stifel Nicolaus' price objective suggests a potential upside of 8.77% from the stock's current price.

Other analysts have also issued research reports about the company. BMO Capital Markets lowered Wesdome Gold Mines from an "outperform" rating to a "hold" rating and increased their price objective for the company from C$30.00 to C$34.00 in a report on Wednesday, August 19th. Canadian Imperial Bank of Commerce upped their target price on Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. National Bank Financial increased their price target on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Finally, Desjardins increased their price target on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$34.12.

Wesdome Gold Mines Stock Down 1.0%

TSE:WDO traded down C$0.33 during midday trading on Monday, reaching C$31.26. 193,296 shares of the stock traded hands, compared to its average volume of 762,473. Wesdome Gold Mines has a 12-month low of C$19.48 and a 12-month high of C$37.22. The business has a 50-day moving average of C$34.05 and a two-hundred day moving average of C$29.25. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90. The stock has a market capitalization of C$4.49 billion, a PE ratio of 11.29 and a beta of 1.32.

Wesdome Gold Mines (TSE:WDO - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share for the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. The company had revenue of C$266.76 million during the quarter. On average, equities analysts forecast that Wesdome Gold Mines will post 1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Wesdome Gold Mines

In other Wesdome Gold Mines news, Director Anthea Ingrid Bath sold 66,961 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total value of C$2,085,835.15. Following the sale, the director owned 130,128 shares in the company, valued at approximately C$4,053,487.20. This represents a 33.98% decrease in their position. Insiders own 0.17% of the company's stock.

Wesdome Gold Mines Company Profile

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d'Or, Québec. The Company's primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.

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