Wesdome Gold Mines (TSE:WDO) Raised to “Buy” at Desjardins

Wesdome Gold Mines (TSE:WDO) was upgraded by equities research analysts at Desjardins from a “hold” rating to a “buy” rating in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a C$17.50 price target on the stock, up from their previous price target of C$15.00. Desjardins’ price target would indicate a potential upside of 22.63% from the company’s previous close.

Separately, TD Securities raised Wesdome Gold Mines to a “hold” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$15.56.

Wesdome Gold Mines Stock Performance

Shares of WDO stock opened at C$14.27 on Thursday. The firm has a 50 day moving average of C$13.59 and a two-hundred day moving average of C$13.02. The stock has a market capitalization of C$2.17 billion, a PE ratio of 26.63 and a beta of 0.85. 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$8.72 and a 52 week high of C$15.20.

Insiders Place Their Bets

In related news, Senior Officer Rajbir Gill acquired 2,213 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of C$11.65 per share, with a total value of C$25,781.45. Also, Director Anthea Ingrid Bath bought 4,250 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of C$11.83 per share, for a total transaction of C$50,277.50. 0.17% of the stock is currently owned by company insiders.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada. It holds interest in the Eagle River Mine in Ontario; and the Kiena Mine in Québec. The company was formerly known as River Gold Mines Ltd. and changed its name to Wesdome Gold Mines Ltd. Wesdome Gold Mines Ltd.