Cormark Cuts Westaim (CVE:WED) Price Target to C$4.75

Westaim (CVE:WED) had its price target cut by Cormark from C$5.20 to C$4.75 in a research report sent to investors on Monday morning, BayStreet.CA reports. Cormark also issued estimates for Westaim’s FY2024 earnings at $0.16 EPS.

Westaim Stock Performance

WED stock opened at C$3.55 on Monday. The company has a 50 day moving average price of C$3.62 and a 200 day moving average price of C$3.68. Westaim has a fifty-two week low of C$2.81 and a fifty-two week high of C$3.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 16.18 and a quick ratio of 27.60. The stock has a market capitalization of C$493.77 million, a PE ratio of 2.05 and a beta of 0.39.

Westaim (CVE:WED) last released its earnings results on Wednesday, March 27th. The company reported C$0.35 EPS for the quarter, missing the consensus estimate of C$0.51 by C($0.16). The firm had revenue of C$2.28 million during the quarter, compared to analyst estimates of C$78.71 million. Westaim had a net margin of 86.46% and a return on equity of 41.75%. Analysts forecast that Westaim will post 0.01369 EPS for the current year.

About Westaim

The Westaim Corporation is a private equity firm specializing in direct and indirect investments through acquisitions, joint ventures, secondary investments both direct and indirect, fund of fund investments, and other arrangements. For direct investments, the firm invests in early venture, mid venture, late venture, middle market, later stage, mature, emerging growth, PIPEs, and buyout transactions.