Wesdome Gold Mines (TSE:WDO) Given New C$22.50 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group raised its price target for Wesdome Gold Mines from C$21.50 to C$22.50, indicating a potential upside of 1.03% based on the stock's current price.
• Royal Bank of Canada also increased its price objective for the company from C$19.00 to C$22.00, while Stifel Canada downgraded its rating from "strong-buy" to "hold."
• Wesdome Gold Mines currently has an average rating of "Moderate Buy" among analysts, with a target price of approximately C$22.20.

Wesdome Gold Mines (TSE:WDO - Get Free Report) had its price objective upped by Canaccord Genuity Group from C$21.50 to C$22.50 in a report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group's price objective would suggest a potential upside of 1.03% from the stock's current price.

A number of other research firms have also issued reports on WDO. Royal Bank Of Canada boosted their price objective on Wesdome Gold Mines from C$19.00 to C$22.00 in a research report on Wednesday, June 4th. Stifel Canada lowered shares of Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 14th. Finally, Stifel Nicolaus lowered shares of 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 research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Wesdome Gold Mines presently has an average rating of "Moderate Buy" and an average target price of C$22.20.

Wesdome Gold Mines Stock Performance

Wesdome Gold Mines stock traded down C$0.15 during mid-day trading on Thursday, reaching C$22.27. The company's stock had a trading volume of 386,864 shares, compared to its average volume of 620,605. Wesdome Gold Mines has a twelve month low of C$10.89 and a twelve month high of C$22.91. The business has a 50 day moving average price of C$18.34 and a 200-day moving average price of C$17.92. The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30. The firm has a market cap of C$3.36 billion, a price-to-earnings ratio of 13.92 and a beta of 0.22.

About Wesdome Gold Mines

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.

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