Wesdome Gold Mines Ltd (TSE:WDO) Receives Average Rating of “Buy” from Analysts
Shares of Wesdome Gold Mines Ltd (TSE:WDO) have received a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$6.09.
WDO has been the subject of several research reports. Eight Capital raised their target price on Wesdome Gold Mines from C$5.25 to C$6.25 in a research note on Thursday, July 11th. National Bank Financial raised their target price on Yamana Gold from C$4.25 to C$4.50 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Desjardins reaffirmed an “average” rating and set a $54.50 target price on shares of Kirkland Lake Gold in a research note on Wednesday, July 17th. Pi Financial raised their target price on Wesdome Gold Mines from C$4.50 to C$5.65 in a research note on Wednesday, July 24th. Finally, Clarus Securities raised Wesdome Gold Mines from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th.
Shares of WDO traded up C$0.12 during trading hours on Thursday, reaching C$6.80. 273,059 shares of the company’s stock traded hands, compared to its average volume of 625,853. The company has a market cap of $839.80 million and a price-to-earnings ratio of 45.91. The company has a debt-to-equity ratio of 6.46, a current ratio of 1.59 and a quick ratio of 1.12. Wesdome Gold Mines has a twelve month low of C$2.95 and a twelve month high of C$6.88. The stock has a fifty day simple moving average of C$5.68.
About Wesdome Gold Mines
Wesdome Gold Mines Ltd. explores for, extracts, processes, produces, reclaims, and sells gold in Canada. It principally produces gold in the form of doré bars; and silver as a by-product. The company's principal assets include the Eagle River Mine, which consists of 3 contiguous mining leases and 442 contiguous active mining claims covering an area of 7,958 hectares; the Mishi Mine that consists of 19 patented mining claims, 5 mining leases, and 5 staked claims covering an area of 3,055 hectares; and the Eagle River Mill located near Wawa, Ontario.
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