Analysts Set Wesdome Gold Mines Ltd (TSE:WDO) Price Target at C$7.05

Wesdome Gold Mines Ltd (TSE:WDO) has earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$7.05.

Several brokerages have recently commented on WDO. Echelon Wealth Partners upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Eight Capital boosted their target price on shares of Wesdome Gold Mines from C$6.25 to C$7.50 in a research report on Thursday, August 8th. BMO Capital Markets boosted their target price on shares of Wesdome Gold Mines from C$8.00 to C$9.00 in a research report on Wednesday, September 11th. Finally, National Bank Financial boosted their target price on shares of Wesdome Gold Mines from C$9.00 to C$9.50 in a research report on Monday, November 18th.

Shares of TSE:WDO traded down C$0.23 during midday trading on Wednesday, hitting C$8.99. The stock had a trading volume of 520,151 shares, compared to its average volume of 704,554. The company’s 50-day moving average price is C$7.86 and its 200-day moving average price is C$6.48. The company has a market capitalization of $1.25 billion and a P/E ratio of 38.92. The company has a quick ratio of 1.34, a current ratio of 1.89 and a debt-to-equity ratio of 6.50. Wesdome Gold Mines has a fifty-two week low of C$3.30 and a fifty-two week high of C$9.24.

In related news, Senior Officer Heather Anne Laxton purchased 22,870 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of C$1.96 per share, with a total value of C$44,825.20. Following the acquisition, the insider now owns 28,972 shares of the company’s stock, valued at approximately C$56,785.12.

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.

Further Reading: What is the Russell 2000 Index?

Analyst Recommendations for Wesdome Gold Mines (TSE:WDO)

Receive News & Ratings for Wesdome Gold Mines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wesdome Gold Mines and related companies with MarketBeat.com's FREE daily email newsletter.