Wesdome Gold Mines (TSE:WDO) Rating Lowered to Hold at Stifel Nicolaus

Wesdome Gold Mines (TSE:WDO) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Friday,BayStreet.CA reports. They currently have a C$20.50 price target on the stock, down from their previous price target of C$24.00. Stifel Nicolaus’ price target suggests a potential upside of 26.39% from the company’s current price.

Several other equities analysts have also recently issued reports on WDO. National Bankshares boosted their price target on shares of Wesdome Gold Mines from C$26.75 to C$28.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Stifel Canada downgraded Wesdome Gold Mines from a “strong-buy” rating to a “hold” rating in a report on Thursday. Royal Bank Of Canada increased their target price on Wesdome Gold Mines from C$19.00 to C$22.00 in a research report on Wednesday, June 4th. Finally, Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$20.70.

Wesdome Gold Mines Price Performance

WDO stock opened at C$16.22 on Friday. The stock has a market capitalization of C$2.46 billion, a price-to-earnings ratio of 30.27 and a beta of 0.85. The firm’s 50-day moving average price is C$18.09 and its two-hundred day moving average price is C$16.96. The company has a current ratio of 2.14, a quick ratio of 0.37 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.

Insider Buying and Selling at Wesdome Gold Mines

In other Wesdome Gold Mines news, Senior Officer Robert Kristian Fitzgerald Kallio sold 3,348 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of C$19.27, for a total value of C$64,515.96. Also, Senior Officer Rajbir Gill sold 10,822 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of C$18.56, for a total value of C$200,856.32. Over the last ninety days, insiders sold 29,827 shares of company stock valued at $556,297. 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.