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CIBC Confirms Neutral Rating and Target of $31.00 on Wesdome Gold Mines Post Q1 Results

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CIBC Capital Markets maintained its neutral rating and $31.00 price target on the shares of Wesdome Gold Mines (WDO.TO) after the company reported its first quarter results on May 12.

The bank noted the company in Q1 delivered "solid" free cash flow, maintained guidance, renewed its NCIB, and provided a positive update on Kiena's Q2 production.

"We have increased our AISC and cash cost estimates slightly at Kiena to account for ongoing labour tightness and cost pressures," said analyst Luke Bertozzi. "We view the upcoming technical reports, anticipated in June, as the key focus for the company going forward, expecting an improvement in the visibility of its mines' longer-term outlooks."

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Price: $27.12, Change: $+0.23, Percent Change: +0.87%

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