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

Canaccord Genuity Group lowered shares of Wesdome Gold Mines (TSE:WDO) from a buy rating to a hold rating in a research report released on Friday, MarketBeat.com reports. Canaccord Genuity Group currently has C$33.00 price target on the stock, up from their prior price target of C$30.00.

Several other research firms have also weighed in on WDO. Canadian Imperial Bank of Commerce upped their price objective on Wesdome Gold Mines from C$32.00 to C$35.00 in a research note on Friday, August 21st. National Bank Financial increased their target price on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Desjardins cut their target price on Wesdome Gold Mines from C$42.00 to C$41.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “hold” rating and raised their target price for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Finally, Stifel Nicolaus lowered Wesdome Gold Mines from a “buy” rating to a “hold” rating and set a C$34.00 price target on the stock. in a research note on Monday, October 19th. Three equities research 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 company has an average rating of “Moderate Buy” and a consensus price target of C$34.50.

Wesdome Gold Mines Price Performance

Shares of Wesdome Gold Mines stock opened at C$28.00 on Friday. The firm has a market cap of C$4.02 billion, a P/E ratio of 10.11 and a beta of 1.32. The firm’s 50-day simple moving average is C$33.71 and its 200-day simple moving average is C$29.38. Wesdome Gold Mines has a twelve month low of C$19.48 and a twelve month high of C$37.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. The firm had revenue of C$266.76 million during the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. As a group, research analysts expect that Wesdome Gold Mines will post 1.29 EPS for the current fiscal year.

Wesdome Gold Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were issued a $0.0306 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%.

Insider Activity

In related news, Director Anthea Ingrid Bath sold 66,961 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of C$31.15, for a total transaction of C$2,085,835.15. Following the completion of the sale, the director owned 130,128 shares in the company, valued at C$4,053,487.20. This trade represents a 33.98% decrease in their position. 0.17% of the stock is owned by company insiders.

Wesdome Gold Mines Company Profile

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.