TD Securities Forecasts Strong Price Appreciation for Wesdome Gold Mines (TSE:WDO) Stock

Wesdome Gold Mines (TSE:WDO) had its price target upped by investment analysts at TD Securities from C$25.00 to C$30.00 in a report issued on Thursday,BayStreet.CA reports. TD Securities’ price objective points to a potential upside of 14.77% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. CIBC raised their target price on Wesdome Gold Mines from C$24.00 to C$27.00 in a research note on Friday, October 10th. Stifel Nicolaus raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their target price for the stock from C$20.50 to C$28.00 in a research report on Monday, October 20th. Royal Bank Of Canada lifted their price target on shares of Wesdome Gold Mines from C$25.00 to C$29.00 in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group raised their price objective on shares of Wesdome Gold Mines from C$21.50 to C$22.50 in a research note on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$26.07.

Wesdome Gold Mines Trading Up 4.1%

Shares of Wesdome Gold Mines stock traded up C$1.03 during trading on Thursday, hitting C$26.14. The company’s stock had a trading volume of 707,226 shares, compared to its average volume of 720,707. The stock has a 50-day moving average price of C$23.02 and a two-hundred day moving average price of C$20.64. Wesdome Gold Mines has a 52 week low of C$13.22 and a 52 week high of C$27.48. The stock has a market cap of C$3.95 billion, a price-to-earnings ratio of 13.69 and a beta of 0.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37.

Wesdome Gold Mines (TSE:WDO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported C$0.58 earnings per share for the quarter. The company had revenue of C$230.28 million during the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%. Equities research analysts anticipate 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.