Canaccord Genuity Group Downgrades Wesdome Gold Mines (TSE:WDO) to Hold

Wesdome Gold Mines (TSE:WDO) was downgraded by investment analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued on Monday, Marketbeat.com reports. They presently have a C$28.00 price objective on the stock, up from their prior price objective of C$27.00. Canaccord Genuity Group’s price target would suggest a potential upside of 11.38% from the stock’s previous close.

Other research analysts have also issued reports about the stock. 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. Stifel Nicolaus upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$20.50 to C$28.00 in a research note on Monday, October 20th. Royal Bank Of Canada upped their price objective on Wesdome Gold Mines from C$25.00 to C$29.00 in a research note on Wednesday, December 10th. Finally, TD Securities lifted their target price on Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$26.86.

Wesdome Gold Mines Price Performance

WDO stock opened at C$25.14 on Monday. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. Wesdome Gold Mines has a 52-week low of C$13.75 and a 52-week high of C$27.64. The stock’s 50 day moving average is C$23.39 and its two-hundred day moving average is C$20.86. The company has a market capitalization of C$3.80 billion, a PE ratio of 13.16 and a beta of 0.48.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Tuesday, November 4th. The company reported C$0.58 EPS 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%. Analysts predict that Wesdome Gold Mines will post 1.293456 earnings per share for the current fiscal year.

Wesdome Gold Mines Company Profile

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.