Wesdome Gold Mines (TSE:WDO) Hits New 12-Month High - What's Next?

Key Points

• Wesdome Gold Mines reached a new 52-week high, trading at C$23.56, amidst a volume of 158,845 shares, indicating strong market interest.
• Recent analyst ratings for WDO include a downgrade from Stifel Canada from "strong-buy" to "hold," but CIBC raised their price target from C$24.00 to C$27.00.
• The company's financial metrics include a market cap of C$3.54 billion and a price-to-earnings ratio of 14.65, suggesting it is well-positioned within the gold production sector.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$23.56 and last traded at C$23.51, with a volume of 158845 shares changing hands. The stock had previously closed at C$21.86.

Analyst Ratings Changes

WDO has been the subject of several recent research reports. Stifel Canada downgraded shares of Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Canaccord Genuity Group boosted their price target on Wesdome Gold Mines from C$21.50 to C$22.50 in a research report on Thursday, October 2nd. Stifel Nicolaus downgraded Wesdome Gold Mines from a "buy" rating to a "hold" rating and cut their price objective for the company from C$24.00 to C$20.50 in a research note on Friday, August 15th. Finally, CIBC increased their price target on Wesdome Gold Mines from C$24.00 to C$27.00 in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$23.00.

Wesdome Gold Mines Trading Up 7.2%

The business's 50 day moving average price is C$19.22 and its 200-day moving average price is C$18.28. The company has a market cap of C$3.54 billion, a price-to-earnings ratio of 14.65 and a beta of 0.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14.

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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