Wesdome Gold Mines (TSE:WDO) Cut to Hold at Canaccord Genuity Group

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

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

Wesdome Gold Mines Stock Performance

Shares of Wesdome Gold Mines stock opened at C$25.12 on Monday. The company has a 50 day moving average price of C$23.47 and a 200 day moving average price of C$20.89. The firm has a market capitalization of C$3.79 billion, a P/E ratio of 13.15 and a beta of 0.48. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. Wesdome Gold Mines has a 52 week low of C$13.76 and a 52 week high of C$27.64.

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. The company had revenue of C$230.28 million for the quarter. Wesdome Gold Mines had a net margin of 17.01% and a return on equity of 17.53%. Sell-side analysts expect that Wesdome Gold Mines will post 1.293456 EPS 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.