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

Desjardins lowered shares of Wesdome Gold Mines (TSE:WDO) from a buy rating to a hold rating in a research note released on Wednesday morning, BayStreet.CA reports. They currently have C$6.00 price target on the stock, up from their previous price target of C$5.75. Desjardins also issued estimates for Wesdome Gold Mines’ Q2 2019 earnings at $0.10 EPS.

Other equities research analysts have also recently issued reports about the stock. Pi Financial lifted their price objective on shares of Wesdome Gold Mines from C$4.10 to C$4.30 in a research note on Monday, March 25th. Eight Capital lifted their price objective on shares of Wesdome Gold Mines from C$5.25 to C$6.25 in a research note on Thursday, July 11th. Canaccord Genuity cut shares of ProMetic Life Sciences to a hold rating in a research note on Tuesday, April 23rd. National Bank Financial lifted their price objective on shares of 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. Finally, Clarus Securities upgraded shares of Wesdome Gold Mines from a hold rating to a buy rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of C$5.79.

Shares of WDO opened at C$6.27 on Wednesday. Wesdome Gold Mines has a 1 year low of C$2.95 and a 1 year high of C$6.41. The firm has a market capitalization of $856.48 million and a P/E ratio of 42.08. The company has a current ratio of 1.59, a quick ratio of 1.12 and a debt-to-equity ratio of 6.46. The company’s fifty day moving average price is C$5.38.

Wesdome Gold Mines (TSE:WDO) last announced its quarterly earnings results on Wednesday, May 8th. The company reported C$0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.07 by C($0.03). The firm had revenue of C$32.54 million for the quarter. On average, equities analysts expect that Wesdome Gold Mines will post 0.26 EPS for the current fiscal year.

About Wesdome Gold Mines

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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