Wesdome Gold Mines (TSE:WDO) Reaches New 1-Year High - Here's Why

Key Points

• Wesdome Gold Mines' stock price reached a new 52-week high of C$22.94, closing at C$22.93 with a trading volume of 116,768 shares.
• Analysts have mixed ratings for the company, with one strong buy, two buys, and three holds, while the consensus rating is "Moderate Buy" with an average price target of C$22.20.
• The company has reported a market capitalization of C$3.42 billion and maintains a debt-to-equity ratio of 0.30, indicating a stable financial position.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as C$22.94 and last traded at C$22.93, with a volume of 116768 shares. The stock had previously closed at C$22.06.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. 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. Stifel Nicolaus cut 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 report on Friday, August 15th. Finally, Canaccord Genuity Group raised their price target on shares of Wesdome Gold Mines from C$21.50 to C$22.50 in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$22.20.

Wesdome Gold Mines Stock Up 2.8%

The business's 50 day moving average price is C$18.54 and its 200-day moving average price is C$18.04. The firm has a market capitalization of C$3.42 billion, a PE ratio of 14.18 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.

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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