Wesdome Gold Mines (TSE:WDO) PT Set at C$24.00 by CIBC

Key Points

• CIBC has set a price target of C$24.00 for Wesdome Gold Mines, indicating a potential upside of 2.92% from its current price, while maintaining a "neutral" rating on the stock.
• Other analysts have varied ratings for the stock, with Stifel Canada downgrading it from "strong-buy" to "hold," and Canaccord Genuity increasing their target from C$21.50 to C$22.50.
• Wesdome Gold Mines has a market cap of C$3.52 billion and has traded within a 52-week range of C$10.89 to C$23.41.

Wesdome Gold Mines (TSE:WDO - Get Free Report) has been given a C$24.00 price target by equities researchers at CIBC in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has a "neutral" rating on the stock. CIBC's price objective would indicate a potential upside of 2.92% from the company's current price.

Other equities analysts have also issued reports about the stock. Stifel Canada lowered shares of Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 14th. Stifel Nicolaus lowered shares of Wesdome Gold Mines from a "buy" rating to a "hold" rating and dropped their target price for the stock from C$24.00 to C$20.50 in a research report on Friday, August 15th. Finally, Canaccord Genuity Group upped their target price on shares of Wesdome Gold Mines from C$21.50 to C$22.50 in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Wesdome Gold Mines has an average rating of "Moderate Buy" and a consensus price target of C$22.50.

Wesdome Gold Mines Stock Performance

WDO stock traded up C$0.99 during midday trading on Wednesday, reaching C$23.32. 361,859 shares of the company's stock traded hands, compared to its average volume of 620,377. Wesdome Gold Mines has a 52-week low of C$10.89 and a 52-week high of C$23.41. The stock has a market cap of C$3.52 billion, a P/E ratio of 14.58 and a beta of 0.62. 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 stock's 50-day moving average is C$18.76 and its 200 day moving average is C$18.12.

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.

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