Wesdome Gold Mines Ltd (TSE:WDO) Given Average Recommendation of “Buy” by Brokerages

Wesdome Gold Mines Ltd (TSE:WDO) has been given a consensus recommendation of “Buy” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is C$6.91.

WDO has been the subject of several research analyst reports. Echelon Wealth Partners lowered Wesdome Gold Mines from a “speculative buy” rating to a “hold” rating in a research note on Friday, August 9th. Eight Capital lifted their price target on Wesdome Gold Mines from C$6.25 to C$7.50 in a research note on Thursday, August 8th. BMO Capital Markets lifted their price target on Wesdome Gold Mines from C$8.00 to C$9.00 in a research note on Wednesday. Desjardins lowered Wesdome Gold Mines from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$5.75 to C$6.00 in a research note on Wednesday, July 17th. Finally, National Bank Financial lifted their price target on Wesdome Gold Mines from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Thursday, September 5th.

WDO stock traded down C$0.12 during mid-day trading on Friday, hitting C$6.02. 610,920 shares of the stock were exchanged, compared to its average volume of 648,313. The company has a debt-to-equity ratio of 5.69, a current ratio of 1.72 and a quick ratio of 1.21. The business has a fifty day moving average price of C$7.00 and a 200 day moving average price of C$5.38. Wesdome Gold Mines has a 12 month low of C$3.30 and a 12 month high of C$7.81. The stock has a market capitalization of $908.29 million and a price-to-earnings ratio of 36.17.

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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Analyst Recommendations for Wesdome Gold Mines (TSE:WDO)

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