BMO Capital Markets Boosts Wesdome Gold Mines (TSE:WDO) Price Target to C$9.00
Wesdome Gold Mines (TSE:WDO) had its price target hoisted by BMO Capital Markets from C$8.00 to C$9.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. BMO Capital Markets’ target price would suggest a potential upside of 42.41% from the stock’s previous close.
A number of other research firms also recently issued reports on WDO. Eight Capital raised their price target on shares of Wesdome Gold Mines from C$6.25 to C$7.50 in a research report on Thursday, August 8th. Pi Financial upped their target price on Wesdome Gold Mines from C$4.50 to C$5.65 in a report on Wednesday, July 24th. Desjardins lowered Wesdome Gold Mines from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$5.75 to C$6.00 in a research report on Wednesday, July 17th. Echelon Wealth Partners lowered Wesdome Gold Mines from a “speculative buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, National Bank Financial raised their target price on Wesdome Gold Mines from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of C$6.91.
WDO stock traded up C$0.03 during trading on Wednesday, hitting C$6.32. 403,711 shares of the company’s stock traded hands, compared to its average volume of 647,708. The company has a quick ratio of 1.21, a current ratio of 1.72 and a debt-to-equity ratio of 5.69. Wesdome Gold Mines has a 52 week low of C$3.30 and a 52 week high of C$7.81. The stock has a fifty day moving average price of C$6.99 and a two-hundred day moving average price of C$5.37. The stock has a market capitalization of $908.29 million and a price-to-earnings ratio of 37.78.
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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