Canaccord Genuity Group Upgrades Wesdome Gold Mines (TSE:WDO) to “Strong-Buy”

Wesdome Gold Mines (TSE:WDO) was upgraded by analysts at Canaccord Genuity Group from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

WDO has been the subject of a number of other research reports. National Bankshares upped their target price on Wesdome Gold Mines from C$26.75 to C$28.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Royal Bank Of Canada upped their price objective on Wesdome Gold Mines from C$19.00 to C$22.00 in a research note on Wednesday, June 4th. Finally, Stifel Canada upgraded Wesdome Gold Mines to a “strong-buy” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$19.50.

Wesdome Gold Mines Price Performance

TSE WDO opened at C$17.00 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14. The firm’s 50 day moving average price is C$18.54 and its 200-day moving average price is C$16.56. Wesdome Gold Mines has a 52-week low of C$10.89 and a 52-week high of C$20.24. The company has a market cap of C$2.58 billion, a PE ratio of 31.73 and a beta of 0.85.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, Senior Officer Kevin Lonergan sold 1,484 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of C$18.21, for a total value of C$27,023.64. Also, Senior Officer Robert Kristian Fitzgerald Kallio sold 3,348 shares of the firm’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. Over the last three months, insiders have sold 29,827 shares of company stock valued at $556,297. Corporate 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.