Wesdome Gold Mines (TSE:WDO) Upgraded 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 research report report published on Wednesday, July 23rd,Zacks.com reports.

WDO has been the topic of a number of other reports. Stifel Canada upgraded Wesdome Gold Mines to a "strong-buy" rating in a research note on Tuesday, July 8th. National Bankshares lifted their price target on Wesdome Gold Mines from C$26.75 to C$28.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada lifted their price target on Wesdome Gold Mines from C$19.00 to C$22.00 in a research note on Wednesday, June 4th. One 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 stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$19.50.

Wesdome Gold Mines Price Performance

Shares of Wesdome Gold Mines stock traded down C$0.38 during trading on Wednesday, reaching C$16.85. The company's stock had a trading volume of 151,081 shares, compared to its average volume of 534,659. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. Wesdome Gold Mines has a 12-month low of C$10.89 and a 12-month high of C$20.24. The company has a market capitalization of C$2.56 billion, a P/E ratio of 31.45 and a beta of 0.85. The business has a 50 day moving average price of C$18.54 and a 200-day moving average price of C$16.63.

Insiders Place Their Bets

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