National Bank Financial Raises Wesdome Gold Mines (WDO) Price Target to C$4.50

Wesdome Gold Mines (TSE:WDO) had its price target boosted by stock analysts at National Bank Financial from C$4.00 to C$4.50 in a note issued to investors on Wednesday, September 12th. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 26.05% from the company’s current price. National Bank Financial also issued estimates for Wesdome Gold Mines’ FY2020 earnings at $0.39 EPS and FY2021 earnings at $0.63 EPS.

A number of other equities analysts have also issued reports on the stock. Pi Financial reduced their price target on shares of Wesdome Gold Mines from C$4.15 to C$3.75 in a research report on Friday, September 7th. M Partners reaffirmed a “buy” rating on shares of Wesdome Gold Mines in a report on Tuesday, June 12th. Eight Capital lifted their target price on shares of Wesdome Gold Mines from C$3.00 to C$4.70 in a report on Monday, July 23rd. Industrial Alliance Securities raised shares of Wesdome Gold Mines from a “buy” rating to a “strong-buy” rating and set a C$5.00 target price for the company in a report on Tuesday, June 12th. Finally, Desjardins lifted their target price on shares of Wesdome Gold Mines from C$3.15 to C$4.00 in a report on Wednesday, June 27th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$4.28.

WDO traded down C$0.08 during trading on Wednesday, reaching C$3.57. 234,700 shares of the company’s stock were exchanged, compared to its average volume of 435,821. Wesdome Gold Mines has a 1 year low of C$1.64 and a 1 year high of C$3.89.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings results on Wednesday, August 1st. The company reported C$0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.03). Wesdome Gold Mines had a return on equity of 0.86% and a net margin of 1.40%. The business had revenue of C$31.44 million for the quarter.

In other news, Director Warwick Morley-Jepson bought 20,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was purchased at an average cost of C$3.24 per share, with a total value of C$64,800.00.

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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