Royal Bank of Canada Issues Positive Forecast for Wesdome Gold Mines (TSE:WDO) Stock Price

Wesdome Gold Mines (TSE:WDO) had its target price lifted by Royal Bank of Canada from C$17.00 to C$19.00 in a research note released on Friday,BayStreet.CA reports.

A number of other equities analysts have also recently weighed in on WDO. TD Securities raised shares of Wesdome Gold Mines to a “hold” rating in a research report on Tuesday, February 4th. Desjardins raised their target price on Wesdome Gold Mines from C$17.50 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Finally, National Bankshares boosted their price target on Wesdome Gold Mines from C$19.75 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wesdome Gold Mines presently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.50.

Wesdome Gold Mines Trading Down 5.4 %

Shares of WDO opened at C$15.65 on Friday. Wesdome Gold Mines has a 12 month low of C$9.89 and a 12 month high of C$17.24. The stock’s 50-day moving average is C$15.10 and its two-hundred day moving average is C$13.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37. The stock has a market cap of C$2.38 billion, a PE ratio of 29.21 and a beta of 0.85.

Insider Buying and Selling at Wesdome Gold Mines

In other news, Senior Officer Rajbir Gill sold 7,884 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of C$16.26, for a total transaction of C$128,193.84. 0.17% of the stock is owned by company insiders.

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.