Wesdome Gold Mines (TSE:WDO) Upgraded to "Strong-Buy" at Canaccord Genuity Group

Key Points

• Wesdome Gold Mines (TSE:WDO) was upgraded from a "hold" rating to a "strong-buy" rating by Canaccord Genuity Group.
• Other analysts, including the Royal Bank of Canada and National Bankshares, have also increased their price targets for the stock, with the average target now at C$19.50.
• Insiders sold a total of 29,827 shares of the company stock valued at approximately $556,297 in the last quarter.

Canaccord Genuity Group upgraded shares of Wesdome Gold Mines (TSE:WDO - Free Report) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

WDO has been the topic of several other reports. National Bankshares boosted their target price 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. Stifel Canada raised Wesdome Gold Mines to a "strong-buy" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Wesdome Gold Mines from C$19.00 to C$22.00 in a research note on Wednesday, June 4th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of C$19.50.

Wesdome Gold Mines Price Performance

Shares of Wesdome Gold Mines stock traded down C$0.20 on Wednesday, hitting C$16.80. The company's stock had a trading volume of 738,113 shares, compared to its average volume of 537,917. 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 has a 1 year low of C$10.89 and a 1 year high of C$20.24. The company has a market capitalization of C$2.55 billion, a price-to-earnings ratio of 31.35 and a beta of 0.85. The firm has a fifty day moving average price of C$18.54 and a 200-day moving average price of C$16.60.

Insider Transactions at Wesdome Gold Mines

In other news, Senior Officer Rajbir Gill sold 10,822 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of C$18.56, for a total transaction of C$200,856.32. Also, Senior Officer Kevin Lonergan sold 1,484 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of C$18.21, for a total transaction of C$27,023.64. Over the last quarter, insiders sold 29,827 shares of company stock worth $556,297. Company 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.