Wesdome Gold Mines (TSE:WDO) Upgraded at Stifel Canada

Key Points

• Wesdome Gold Mines has been upgraded from a "hold" rating to a "strong-buy" rating by analysts at Stifel Canada, reflecting increased confidence in the company's stock.
• Other analysts have raised their price targets for Wesdome, with Canaccord Genuity increasing theirs from C$21.50 to C$22.50 and CIBC raising theirs from C$24.00 to C$27.00.
• The company's stock opened at C$23.79 and is currently rated as a "Buy" with a consensus price target of C$24.25 according to MarketBeat.

Wesdome Gold Mines (TSE:WDO - Get Free Report) was upgraded by research analysts at Stifel Canada from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts also recently commented on WDO. Canaccord Genuity Group upped their price objective on Wesdome Gold Mines from C$21.50 to C$22.50 in a research note on Thursday, October 2nd. CIBC increased their target price on Wesdome Gold Mines from C$24.00 to C$27.00 in a research note on Friday, October 10th. Finally, Stifel Nicolaus raised Wesdome Gold Mines from a "hold" rating to a "buy" rating and increased their target price for the stock from C$20.50 to C$28.00 in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$24.25.

Wesdome Gold Mines Stock Up 4.7%

WDO opened at C$23.79 on Monday. The business has a 50 day moving average price of C$19.81 and a two-hundred day moving average price of C$18.54. 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 cap of C$3.59 billion, a PE ratio of 14.87 and a beta of 0.62. Wesdome Gold Mines has a 52 week low of C$10.89 and a 52 week high of C$24.80.

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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