Eight Capital Increases Wesdome Gold Mines (TSE:WDO) Price Target to C$10.50

Wesdome Gold Mines (TSE:WDO) had its target price boosted by stock analysts at Eight Capital from C$8.50 to C$10.50 in a research report issued to clients and investors on Thursday, BayStreet.CA reports. Eight Capital’s price target indicates a potential upside of 14.01% from the stock’s current price.

A number of other research firms have also weighed in on WDO. National Bank Financial boosted their target price on shares of Wesdome Gold Mines from C$9.00 to C$9.50 in a research report on Monday, November 18th. Pi Financial set a C$8.85 price objective on shares of Wesdome Gold Mines and gave the stock a “neutral” rating in a report on Wednesday. Canaccord Genuity boosted their price objective on shares of Wesdome Gold Mines from C$9.00 to C$10.00 in a report on Wednesday. Finally, Echelon Wealth Partners downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$8.98.

Shares of WDO stock traded up C$0.21 on Thursday, hitting C$9.21. The company’s stock had a trading volume of 823,316 shares, compared to its average volume of 879,786. The company has a debt-to-equity ratio of 6.50, a current ratio of 1.89 and a quick ratio of 1.34. Wesdome Gold Mines has a fifty-two week low of C$3.96 and a fifty-two week high of C$10.47. The firm’s fifty day moving average price is C$9.53 and its 200-day moving average price is C$7.48. The stock has a market capitalization of $1.28 billion and a price-to-earnings ratio of 39.91.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Wednesday, November 6th. The company reported C$0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.12 by C($0.03). The business had revenue of C$20.69 million for the quarter. Analysts predict that Wesdome Gold Mines will post 0.45 EPS for the current fiscal year.

In other Wesdome Gold Mines news, Director Nadine Miller sold 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of C$9.54, for a total transaction of C$95,400.00. Following the sale, the director now directly owns 32,800 shares of the company’s stock, valued at C$312,912. Also, Senior Officer Heather Anne Laxton acquired 22,870 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of C$1.96 per share, for a total transaction of C$44,825.20. Following the completion of the purchase, the insider now directly owns 28,972 shares of the company’s stock, valued at approximately C$56,785.12.

About Wesdome Gold Mines

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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