Wesdome Gold Mines (TSE:WDO) Shares Down 12.1% Following Analyst Downgrade

Wesdome Gold Mines Ltd. (TSE:WDO – Get Rating)’s share price traded down 12.1% during trading on Wednesday after BMO Capital Markets lowered their price target on the stock from C$15.00 to C$14.00. The company traded as low as C$6.80 and last traded at C$6.83. 538,642 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 593,265 shares. The stock had previously closed at C$7.77.

A number of other equities analysts also recently weighed in on WDO. Canaccord Genuity Group lowered their price target on Wesdome Gold Mines from C$10.00 to C$9.00 in a research report on Thursday, October 20th. TD Securities lowered their price target on Wesdome Gold Mines from C$12.50 to C$11.50 and set a “buy” rating on the stock in a research report on Thursday, November 10th. Bank of America lowered their price target on Wesdome Gold Mines from C$14.50 to C$14.00 in a research report on Friday, November 11th. Echelon Wealth Partners downgraded Wesdome Gold Mines from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Finally, National Bankshares lowered their price target on Wesdome Gold Mines from C$14.00 to C$11.25 and set an “outperform” rating on the stock in a research report on Friday, January 13th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$13.06.

Insider Buying and Selling

In related news, Director Charles Main sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of C$8.60, for a total transaction of C$86,000.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at C$43,000.

Wesdome Gold Mines Stock Up 0.5 %

The firm has a market cap of C$926.17 million and a price-to-earnings ratio of 72.22. The company has a debt-to-equity ratio of 9.89, a current ratio of 0.62 and a quick ratio of 0.37. The stock has a 50-day moving average of C$8.17 and a 200-day moving average of C$8.79.

Wesdome Gold Mines (TSE:WDO – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported C($0.03) earnings per share for the quarter, missing the consensus estimate of C$0.07 by C($0.10). The business had revenue of C$61.82 million during the quarter, compared to analysts’ expectations of C$62.00 million. Sell-side analysts predict that Wesdome Gold Mines Ltd. will post 0.57 EPS for the current fiscal year.

Wesdome Gold Mines Company Profile

(Get Rating)

Wesdome Gold Mines Ltd. engages in the exploration, extraction, processing, and reclamation of gold in Canada. It principally produces gold in the form of doré bars, as well as silver as a by-product. The company's properties include the Eagle River Complex that consists of the Eagle River Mine, the Mishi Mine, and the Eagle River Mill located in Wawa, Ontario; and the Kiena Mine Complex, which includes the Kiena Mine concession and Kiena Mill situated in Val-d'Or, Québec.