Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 3,509,800 shares, a drop of 20.7% from the August 15th total of 4,427,900 shares. Based on an average trading volume of 101,900 shares, the days-to-cover ratio is presently 34.4 days.
Several equities analysts have recently weighed in on the company. National Bank Financial raised their target price on Wesdome Gold Mines from C$14.00 to C$14.50 and gave the company an “outperform” rating in a research report on Wednesday, July 14th. Desjardins cut Wesdome Gold Mines from a “buy” rating to a “hold” rating in a report on Friday, July 23rd. Finally, Canaccord Genuity cut Wesdome Gold Mines from a “buy” rating to a “hold” rating in a report on Friday, July 16th.
OTCMKTS:WDOFF opened at $8.74 on Tuesday. Wesdome Gold Mines has a one year low of $6.05 and a one year high of $10.74. The stock has a 50 day moving average price of $9.74 and a 200 day moving average price of $8.80.
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 on October 21, 1980 and is headquartered in Toronto, Canada.
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