Wesdome Gold Mines (TSE:WDO) Price Target Raised to C$29.00

Wesdome Gold Mines (TSE:WDO) had its price objective increased by analysts at Royal Bank Of Canada from C$25.00 to C$29.00 in a research note issued on Wednesday,BayStreet.CA reports. Royal Bank Of Canada’s price objective would indicate a potential upside of 30.04% from the stock’s current price.

WDO has been the subject of several other research reports. Stifel Canada upgraded shares of Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. CIBC raised their price objective on shares of Wesdome Gold Mines from C$24.00 to C$27.00 in a report on Friday, October 10th. Canaccord Genuity Group raised their price objective on shares of Wesdome Gold Mines from C$21.50 to C$22.50 in a research report on Thursday, October 2nd. Finally, Stifel Nicolaus upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$20.50 to C$28.00 in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$25.42.

Wesdome Gold Mines Price Performance

Shares of TSE:WDO traded up C$0.14 during mid-day trading on Wednesday, reaching C$22.30. The stock had a trading volume of 315,077 shares, compared to its average volume of 624,056. The company has a market cap of C$3.37 billion, a P/E ratio of 11.68 and a beta of 0.76. The business’s 50 day moving average price is C$21.68 and its 200 day moving average price is C$19.59. The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30. Wesdome Gold Mines has a 1 year low of C$12.31 and a 1 year high of C$24.80.

Wesdome Gold Mines (TSE:WDO) last announced its earnings results on Tuesday, November 4th. The company reported C$0.58 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%.The business had revenue of C$230.28 million during the quarter. Research analysts expect that Wesdome Gold Mines will post 1.293456 EPS for the current fiscal year.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.