National Bank Believes Wesdome Gold Mines (TSX: WDO) Still Has Room to Grow

By Austin Angelo

Wesdome Gold Mines (WDOResearch Report), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Don DeMarco from National Bank remains bullish on the stock and has a C$5 price target.

According to TipRanks.com, DeMarco is a 3-star analyst with an average return of 5.8% and a 63.3% success rate. DeMarco covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, OceanaGold Corporation, and SilverCrest Metals Inc.

Wesdome Gold Mines has an analyst consensus of Strong Buy, with a price target consensus of C$5.58, representing a 27.4% upside. In a report issued on January 7, Desjardins also reiterated a Buy rating on the stock with a C$5.75 price target.

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The company has a one-year high of C$4.75 and a one-year low of C$1.71. Currently, Wesdome Gold Mines has an average volume of 544.3K.

Wesdome Gold Mines Ltd. is a mining exploration company, which engages in the provision of acquisition, exploration, evaluation, and development of gold properties. It holds interest in the Eagle River Mine, Mishi Mine, Kiena complex, and Moss Lake Gold Mines properties. The company was founded in 1976 and is headquartered in Toronto, Canada.

The company’s shares closed on Monday at C$4.38, close to its 52-week high of C$4.75.