Wesdome Gold Mines (TSE:WDO) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a research note issued on Wednesday, BayStreet.CA reports. They presently have a C$6.00 price objective on the stock, up from their previous price objective of C$5.75. Desjardins’ target price suggests a potential downside of 0.50% from the stock’s previous close.

WDO has been the subject of several other reports. National Bank Financial increased their price objective on Wesdome Gold Mines from C$6.00 to C$6.25 and gave the company an “outperform” rating in a research note on Friday, July 12th. Canaccord Genuity downgraded ProMetic Life Sciences to a “hold” rating in a research note on Tuesday, April 23rd. Clarus Securities raised Wesdome Gold Mines from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Pi Financial increased their price objective on Wesdome Gold Mines from C$4.10 to C$4.30 in a research note on Monday, March 25th. Finally, Eight Capital increased their price objective on Wesdome Gold Mines from C$5.25 to C$6.25 in a research note on Thursday, July 11th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of C$5.79.

TSE WDO traded up C$0.22 during mid-day trading on Wednesday, hitting C$6.03. The stock had a trading volume of 542,316 shares, compared to its average volume of 620,398. The stock’s 50 day moving average is C$5.27. Wesdome Gold Mines has a twelve month low of C$2.95 and a twelve month high of C$6.11. The company has a debt-to-equity ratio of 6.46, a current ratio of 1.59 and a quick ratio of 1.12. The company has a market capitalization of $793.65 million and a PE ratio of 40.47.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported C$0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.07 by C($0.03). The company had revenue of C$32.54 million during the quarter. On average, sell-side analysts anticipate 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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