Wesdome Gold Mines (TSE:WDO) Rating Lowered to "Hold" at Stifel Nicolaus

Key Points

• Wesdome Gold Mines (TSE:WDO) has been downgraded by Stifel Nicolaus from a "buy" to a "hold" rating, with a new price target of C$20.50, down from C$24.00.
• Analysts have mixed views on Wesdome, with National Bankshares raising their price target to C$28.00 and Canaccord Genuity upgrading it to a "strong-buy" rating.
• Wesdome Gold Mines shares recently traded at C$16.24 and have seen a range of C$10.89 to C$20.24 over the past year.

Wesdome Gold Mines (TSE:WDO - Get Free Report) was downgraded by equities research analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a C$20.50 price target on the stock, down from their previous price target of C$24.00. Stifel Nicolaus' target price points to a potential upside of 26.23% from the stock's current price.

Several other equities analysts have also weighed in on WDO. National Bankshares increased their price objective on shares of 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. Stifel Canada downgraded Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Canaccord Genuity Group raised shares of Wesdome Gold Mines from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised their price target on shares of Wesdome Gold Mines from C$19.00 to C$22.00 in a research report on Wednesday, June 4th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$19.64.

Wesdome Gold Mines Price Performance

Wesdome Gold Mines stock traded down C$0.27 during mid-day trading on Friday, hitting C$16.24. 493,690 shares of the company were exchanged, compared to its average volume of 558,299. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. The company has a market capitalization of C$2.47 billion, a PE ratio of 30.31 and a beta of 0.85. The business has a fifty day moving average of C$18.16 and a 200 day moving average of C$16.93. Wesdome Gold Mines has a 1-year low of C$10.89 and a 1-year high of C$20.24.

Insider Activity

In other Wesdome Gold Mines news, Senior Officer Robert Kristian Fitzgerald Kallio sold 3,348 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of C$19.27, for a total value of C$64,515.96. Also, Senior Officer Kevin Lonergan sold 1,484 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of C$18.21, for a total transaction of C$27,023.64. In the last 90 days, insiders have sold 29,827 shares of company stock valued at $556,297. 0.17% of the stock is currently owned by 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.

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