Shares of Wesdome Gold Mines Ltd (TSE:WDO) were down 3.4% on Tuesday . The stock traded as low as C$1.98 and last traded at C$1.99. Approximately 1,082,366 shares changed hands during mid-day trading, an increase of 176% from the average daily volume of 391,998 shares. The stock had previously closed at C$2.06.

Several research analysts have commented on the company. Desjardins reissued a “buy” rating and set a C$3.15 target price on shares of Wesdome Gold Mines in a research note on Friday. National Bank Financial restated an “outperform” rating and issued a C$4.00 price target on shares of Wesdome Gold Mines in a research note on Tuesday.

The company has a market cap of $266.44 million and a PE ratio of 26.18. The firm has a 50 day moving average price of $2.25 and a 200-day moving average price of $2.94.

In related news, insider Benoit Laplante sold 34,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of C$2.22, for a total value of C$77,256.00.

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Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd. is engaged in gold mining operations. The Company is producing gold at the Eagle River Complex and open pit Mishi gold mines. Its Eagle River Complex is located in Central Ontario, which includes the Eagle River Mine, the Mishi Mine and shared infrastructure, including the mineral processing plant.

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