Wesdome Gold Mines (TSE:WDO) Stock Gets Price Target Cut from Desjardins

Wesdome Gold Mines (TSE:WDO) had its price target reduced by analysts at Desjardins from C$42.00 to C$41.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The firm currently has a “buy” rating on the stock. Desjardins‘s target price would indicate a potential upside of 42.02% from the stock’s previous close.

WDO has been the subject of a number of other reports. Stifel Nicolaus cut shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and set a C$34.00 target price for the company. in a report on Monday. BMO Capital Markets cut Wesdome Gold Mines from an “outperform” rating to a “hold” rating and upped their price target for the company from C$30.00 to C$34.00 in a report on Wednesday, August 19th. National Bank Financial upped their price target on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wesdome Gold Mines has a consensus rating of “Moderate Buy” and a consensus price target of C$34.25.

Wesdome Gold Mines Price Performance

Shares of WDO traded down C$1.97 during mid-day trading on Thursday, hitting C$28.87. The company’s stock had a trading volume of 408,351 shares, compared to its average volume of 759,353. The firm has a 50-day moving average price of C$33.88 and a 200 day moving average price of C$29.36. The stock has a market capitalization of C$4.14 billion, a price-to-earnings ratio of 10.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.73, a current ratio of 6.90 and a quick ratio of 0.37. Wesdome Gold Mines has a fifty-two week low of C$19.48 and a fifty-two week high of C$37.22.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Thursday, August 13th. The company reported C$0.65 EPS for the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. The business had revenue of C$266.76 million for the quarter. On average, research analysts predict that Wesdome Gold Mines will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Anthea Ingrid Bath sold 66,961 shares of Wesdome Gold Mines stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total value of C$2,085,835.15. Following the transaction, the director owned 130,128 shares of the company’s stock, valued at approximately C$4,053,487.20. This trade represents a 33.98% decrease in their position. Corporate insiders own 0.17% of the company’s stock.

About Wesdome Gold Mines

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.