Wesdome Gold Mines (TSE:WDO) Downgraded to "Hold" Rating by 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.

Stifel Nicolaus cut shares of Wesdome Gold Mines (TSE:WDO - Free Report) from a buy rating to a hold rating in a report released on Friday morning,BayStreet.CA reports. They currently have C$20.50 target price on the stock, down from their prior target price of C$24.00.

Other equities research analysts have also recently issued research reports about the company. Stifel Canada cut Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. National Bankshares lifted their price target on Wesdome Gold Mines from C$26.75 to C$28.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Canaccord Genuity Group upgraded Wesdome Gold Mines from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada increased their price objective on Wesdome Gold Mines from C$19.00 to C$22.00 in a research report on Wednesday, June 4th. 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 stock. Based on data from MarketBeat.com, Wesdome Gold Mines has a consensus rating of "Moderate Buy" and a consensus target price of C$20.70.

Wesdome Gold Mines Stock Performance

Shares of WDO stock traded up C$0.30 during midday trading on Friday, hitting C$16.30. 575,489 shares of the company were exchanged, compared to its average volume of 562,816. Wesdome Gold Mines has a 52 week low of C$10.89 and a 52 week high of C$20.24. The firm has a market capitalization of C$2.47 billion, a P/E ratio of 30.42 and a beta of 0.85. The firm's 50 day moving average price is C$17.90 and its two-hundred day moving average price is C$16.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14.

Insider Buying and Selling at Wesdome Gold Mines

In related news, Senior Officer Rajbir Gill sold 14,173 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of C$18.62, for a total value of C$263,901.26. Also, Senior Officer Robert Kristian Fitzgerald Kallio sold 3,348 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of C$19.27, for a total transaction of C$64,515.96. Insiders sold a total of 28,343 shares of company stock valued at $529,274 over the last ninety days. Insiders own 0.17% of the company's stock.

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.