Wesdome Gold Mines (TSE:WDO) Lowered to “Hold” Rating by Canaccord Genuity Group

Canaccord Genuity Group cut shares of Wesdome Gold Mines (TSE:WDO) from a buy rating to a hold rating in a research note published on Monday,BayStreet.CA reports. Canaccord Genuity Group currently has C$28.00 price objective on the stock, up from their previous price objective of C$27.00.

A number of other analysts also recently commented on the company. TD Securities raised their price objective on Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. CIBC lifted their price target on shares of Wesdome Gold Mines from C$24.00 to C$27.00 in a research note on Friday, October 10th. Royal Bank Of Canada boosted their price target on shares of Wesdome Gold Mines from C$25.00 to C$29.00 in a report on Wednesday, December 10th. Finally, Stifel Nicolaus raised shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$20.50 to C$28.00 in a report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$26.86.

Wesdome Gold Mines Price Performance

TSE:WDO opened at C$25.39 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37. Wesdome Gold Mines has a one year low of C$13.64 and a one year high of C$27.64. The company has a fifty day moving average price of C$23.30 and a 200 day moving average price of C$20.81. The stock has a market cap of C$3.83 billion, a P/E ratio of 13.29 and a beta of 0.48.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Tuesday, November 4th. The company reported C$0.58 earnings per share for the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%.The business had revenue of C$230.28 million for the quarter. Analysts anticipate that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

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.