Wesdome Gold Mines Ltd. (TSE:WDO) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Wesdome Gold Mines Ltd. has received a **consensus recommendation** of "Moderate Buy" from six research firms, with an average price target of **C$20.70**.
• Recent analyst actions include Stifel Nicolaus downgrading the stock to a **"hold"** rating, while Canaccord Genuity upgraded it to **"strong buy"**.
• Insider selling activity has been noted, with a total of **29,827 shares** sold in the last quarter, reflecting some cautious sentiment from company executives.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) has been given an average rating of "Moderate Buy" by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$20.70.

A number of brokerages have commented on WDO. Stifel Nicolaus cut Wesdome Gold Mines from a "buy" rating to a "hold" rating and reduced their target price for the company from C$24.00 to C$20.50 in a report on Friday. Canaccord Genuity Group upgraded Wesdome Gold Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Stifel Canada downgraded Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Royal Bank Of Canada increased their target price on Wesdome Gold Mines from C$19.00 to C$22.00 in a report on Wednesday, June 4th. Finally, National Bankshares raised their price objective on Wesdome Gold Mines from C$26.75 to C$28.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd.

Wesdome Gold Mines Trading Down 1.8%

Shares of TSE WDO traded down C$0.29 during midday trading on Friday, hitting C$16.22. The company's stock had a trading volume of 726,560 shares, compared to its average volume of 559,818. The business's 50 day moving average is C$18.16 and its two-hundred day moving average is C$16.93. The firm has a market cap of C$2.46 billion, a P/E ratio of 30.27 and a beta of 0.85. Wesdome Gold Mines has a 12-month low of C$10.89 and a 12-month high of C$20.24. The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30.

Insiders Place Their Bets

In related news, Senior Officer Robert Kristian Fitzgerald Kallio sold 3,348 shares of Wesdome Gold Mines stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of C$19.27, for a total transaction of C$64,515.96. Also, Senior Officer Rajbir Gill sold 10,822 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of C$18.56, for a total transaction of C$200,856.32. Insiders sold 29,827 shares of company stock worth $556,297 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.