Royal Bank of Canada Forecasts Strong Price Appreciation for Wesdome Gold Mines (TSE:WDO) Stock

Wesdome Gold Mines (TSE:WDO) had its price objective hoisted by equities researchers at Royal Bank of Canada from C$17.00 to C$19.00 in a report issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s target price would suggest a potential upside of 21.41% from the company’s current price.

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

Wesdome Gold Mines Stock Down 5.4 %

Shares of TSE WDO opened at C$15.65 on Friday. The company has a 50 day simple moving average of C$15.10 and a 200 day simple moving average of 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. Wesdome Gold Mines has a 1 year low of C$9.89 and a 1 year high of C$17.24. The firm 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 Wesdome Gold Mines news, Senior Officer Rajbir Gill sold 7,884 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of C$16.26, for a total value of C$128,193.84. Insiders own 0.17% of the company’s stock.

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.