Wesdome Gold Mines (TSE:WDO) Cut to Hold at Stifel Nicolaus

Stifel Nicolaus cut shares of Wesdome Gold Mines (TSE:WDO) from a buy rating to a hold rating in a report issued on Monday morning, MarketBeat reports. Stifel Nicolaus currently has C$34.00 price objective on the stock.

Several other research firms also recently weighed in on WDO. Canadian Imperial Bank of Commerce boosted their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. Desjardins increased their price target on shares of Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. National Bank Financial increased their price target on shares of Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Finally, BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “hold” rating and lifted their price target for the stock from C$30.00 to C$34.00 in a research note on Wednesday, August 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$34.12.

Wesdome Gold Mines Trading Up 1.2%

WDO opened at C$30.84 on Monday. The stock has a market capitalization of C$4.43 billion, a PE ratio of 11.13 and a beta of 1.32. The firm’s fifty day moving average price is C$33.88 and its 200 day moving average price is C$29.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 6.90 and a quick ratio of 0.37. Wesdome Gold Mines has a 12-month low of C$19.48 and a 12-month high of C$37.22.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings data on Thursday, August 13th. The company reported C$0.65 EPS for the quarter. The firm had revenue of C$266.76 million for the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. As a group, research analysts expect that Wesdome Gold Mines will post 1.29 EPS for the current fiscal year.

Wesdome Gold Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a dividend of $0.0306 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 15th.

Insider Activity

In related news, Director Anthea Ingrid Bath sold 66,961 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total transaction of C$2,085,835.15. Following the transaction, the director directly owned 130,128 shares in the company, valued at C$4,053,487.20. This trade represents a 33.98% decrease in their ownership of the stock. Corporate insiders own 0.17% of the company’s stock.

About Wesdome Gold Mines

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.