National Bankshares has lowered its rating on Wesdome Gold Mines (TSE:WDO) from “outperform” to “sector perform.” Along with the rating change, the firm reduced its price target for the stock from C$31.00 to C$28.00, according to a report by BayStreet.CA.
The adjustment reflects a more cautious outlook on the company’s near-term performance within the gold mining sector.
**Why this matters**
A downgrade in rating and price target can influence investor sentiment and trading activity. The revised outlook may signal expectations of slower growth or increased risks compared to previous forecasts, which could impact Wesdome Gold Mines’ stock performance in the coming months.
Source: NewsData