National Bankshares Raises Target Price for Wesdome Gold Mines

Wesdome Gold Mines (TSE:WDO) has received an updated price target from analysts at National Bankshares. In a research report released on Wednesday, the target price was increased from C$19.75 to C$22.00. The firm has also assigned an "outperform" rating to the stock, indicating a positive outlook for its future performance.

The new price target suggests a potential upside of 34.15% based on the current trading price of the stock. This adjustment reflects the analysts' confidence in Wesdome Gold Mines as it continues to operate within the competitive mining sector.

Recently, other financial institutions have also evaluated Wesdome Gold Mines. For instance, Desjardins raised their price target from C$17.50 to C$18.00, issuing a "buy" rating in their latest report on March 20th. Additionally, TD Securities upgraded the stock to a "hold" rating in early February.

Currently, the consensus among research analysts ranks Wesdome Gold Mines with a "Moderate Buy" status, with an average target price of C$16.19. This analysis comes from various analysts, showing a blend of opinions whereby two have rated the stock as a hold, three as a buy, and one as a strong buy.

Current Performance of Wesdome Gold Mines Stock

In terms of market activity, Wesdome Gold Mines saw its stock price decline slightly by 0.9% during mid-day trading on Wednesday, reaching C$16.40 per share. A total of 214,235 shares were traded that day, compared to the average volume of 396,810 shares. The company maintains a market capitalization of C$2.49 billion and has a P/E ratio of 30.61.

Financial ratios indicate that Wesdome Gold has a debt-to-equity ratio of 0.30, with a quick ratio of 0.37, and a current ratio of 2.14. Over the past year, the stock has been volatile, hitting a low of C$9.59 and a high of C$16.72.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd is a prominent gold producer that engages in various mining-related activities including exploration, processing, and reclamation. The company operates primarily in Canada, with its main production facility located at the Eagle River Complex near Wawa, Ontario. The operations include both the Eagle River Underground and Mishi Open Pit gold mines, and revenue is generated from the sale of gold and silver bullion.

Wesdome, Finance, Stocks