Brokerages Set Wesdome Gold Mines Ltd. (TSE:WDO) Target Price at C$24.25

Wesdome Gold Mines Ltd. (TSE:WDO) has been given an average recommendation of “Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$24.25.

WDO has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price target on Wesdome Gold Mines from C$21.50 to C$22.50 in a research note on Thursday, October 2nd. Stifel Nicolaus raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their price target for the stock from C$20.50 to C$28.00 in a research report on Monday, October 20th. Stifel Canada raised Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, CIBC increased their price objective on Wesdome Gold Mines from C$24.00 to C$27.00 in a report on Friday, October 10th.

Wesdome Gold Mines Stock Performance

Shares of TSE:WDO opened at C$21.16 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of C$3.19 billion, a P/E ratio of 13.23 and a beta of 0.62. The business has a 50-day moving average price of C$20.61 and a two-hundred day moving average price of C$18.82. Wesdome Gold Mines has a 1-year low of C$10.89 and a 1-year high of C$24.80.

About Wesdome Gold Mines

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.