Wesdome Gold Mines (TSE:WDO) Stock Gets Price Target Reduction from Desjardins

Key Points

• Desjardins reduced Wesdome Gold Mines’ price target from C$42 to C$41 while maintaining a “buy” rating, implying approximately 42% upside from the prior close.
• Analyst sentiment remains favorable but mixed: four analysts rate the stock “Buy” and two rate it “Hold,” producing a “Moderate Buy” consensus and an average target of C$34.25.
• Wesdome shares fell to C$28.87 during Thursday trading. The company reported C$0.65 quarterly EPS on C$266.76 million in revenue, while a director sold 66,961 shares worth approximately C$2.09 million.

Wesdome Gold Mines (TSE:WDO - Get Free Report) had its price objective dropped by stock analysts at Desjardins from C$42.00 to C$41.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. Desjardins's target price indicates a potential upside of 42.02% from the company's previous close.

Several other analysts also recently weighed in on WDO. BMO Capital Markets downgraded Wesdome Gold Mines from an "outperform" rating to a "hold" rating and lifted their target price for the company from C$30.00 to C$34.00 in a research note on Wednesday, August 19th. National Bank Financial increased their price target on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 19th. Stifel Nicolaus lowered Wesdome Gold Mines from a "buy" rating to a "hold" rating and set a C$34.00 price target on the stock. in a report on Monday. Finally, Canadian Imperial Bank of Commerce raised their price target on Wesdome Gold Mines from C$32.00 to C$35.00 in a report on Friday, August 21st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Wesdome Gold Mines presently has an average rating of "Moderate Buy" and an average target price of C$34.25.

Wesdome Gold Mines Stock Performance

Shares of TSE WDO traded down C$1.97 during midday trading on Thursday, hitting C$28.87. 408,351 shares of the company's stock were exchanged, compared to its average volume of 759,353. The company has a debt-to-equity ratio of 0.73, a current ratio of 6.90 and a quick ratio of 0.37. The stock's 50 day moving average price is C$33.88 and its 200-day moving average price is C$29.36. The firm has a market cap of C$4.14 billion, a P/E ratio of 10.42 and a beta of 1.32. Wesdome Gold Mines has a twelve month low of C$19.48 and a twelve month high of C$37.22.

Wesdome Gold Mines (TSE:WDO - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%. The business had revenue of C$266.76 million during the quarter. Equities research analysts anticipate that Wesdome Gold Mines will post 1.29 EPS for the current year.

Insider Activity

In other news, Director Anthea Ingrid Bath sold 66,961 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately C$4,053,487.20. The trade was a 33.98% decrease in their position. Company insiders own 0.17% of the company's stock.

About Wesdome Gold Mines

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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