Wesdome Gold Mines (TSE:WDO) Downgraded by Desjardins

Wesdome Gold Mines (TSE:WDO) was downgraded by analysts at Desjardins from a “buy” rating to a “hold” rating in a report released on Wednesday, BayStreet.CA reports. They currently have a C$6.00 price target on the stock, up from their prior price target of C$5.75. Desjardins’ target price would suggest a potential downside of 0.99% from the company’s current price.

A number of other equities analysts have also weighed in on WDO. Canaccord Genuity lowered shares of ProMetic Life Sciences to a “hold” rating in a report on Tuesday, April 23rd. National Bank Financial boosted their price objective on shares of Wesdome Gold Mines from C$6.00 to C$6.25 and gave the stock an “outperform” rating in a report on Friday, July 12th. Pi Financial boosted their price objective on shares of Wesdome Gold Mines from C$4.10 to C$4.30 in a report on Monday, March 25th. Eight Capital boosted their price objective on shares of Wesdome Gold Mines from C$5.25 to C$6.25 in a report on Thursday, July 11th. Finally, Clarus Securities upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Wesdome Gold Mines currently has a consensus rating of “Buy” and a consensus price target of C$5.79.

TSE WDO traded up C$0.25 during mid-day trading on Wednesday, reaching C$6.06. The stock had a trading volume of 561,188 shares, compared to its average volume of 620,398. Wesdome Gold Mines has a 1 year low of C$2.95 and a 1 year high of C$6.11. The firm has a market cap of $793.65 million and a PE ratio of 40.67. The business’s fifty day moving average price is C$5.27. The company has a current ratio of 1.59, a quick ratio of 1.12 and a debt-to-equity ratio of 6.46.

Wesdome Gold Mines (TSE:WDO) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C$0.04 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.03). The company had revenue of C$32.54 million for the quarter. On average, research analysts expect that Wesdome Gold Mines will post 0.26 earnings per share for the current year.

Wesdome Gold Mines Company Profile

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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