Wesdome Gold Mines (TSE:WDO) Stock Bumped Down to “Hold” by Stifel Nicolaus

Wesdome Gold Mines (TSE:WDO) was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Monday, BayStreet reports. They presently have a C$34.00 target price on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 8.77% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Desjardins upped their price objective on shares of Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. National Bank Financial increased their target price 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. Canadian Imperial Bank of Commerce boosted their price objective on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. Finally, BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “hold” rating and increased their target price for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Four 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, the company has an average rating of “Moderate Buy” and a consensus target price of C$34.12.

Wesdome Gold Mines Stock Down 1.0%

Shares of TSE:WDO traded down C$0.33 during trading on Monday, hitting C$31.26. The company’s stock had a trading volume of 193,296 shares, compared to its average volume of 762,473. The business has a 50 day moving average price of C$34.05 and a two-hundred day moving average price of C$29.25. 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 has a fifty-two week low of C$19.48 and a fifty-two week high of C$37.22. The company has a market capitalization of C$4.49 billion, a PE ratio of 11.29 and a beta of 1.32.

Wesdome Gold Mines (TSE:WDO) last issued 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 firm had revenue of C$266.76 million during the quarter. As a group, research analysts expect that Wesdome Gold Mines will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling at Wesdome Gold Mines

In related news, Director Anthea Ingrid Bath sold 66,961 shares of the company’s stock in a transaction on 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 directly owned 130,128 shares of the company’s stock, valued at approximately C$4,053,487.20. This represents a 33.98% decrease in their position. Insiders own 0.17% of the company’s stock.

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.