Analyst Favorites: Wesdome Gold Mines Ranks As a Top Metals Pick

Analyst Favorites: Wesdome Gold Mines Ranks As a Top Metals Pick

A study of analyst recommendations at the major brokerages shows that Wesdome Gold Mines Ltd (TSX: WDO.TO) is the #4 broker analyst pick, on average, out of the 50 stocks making up the Metals Channel Global Mining Titans Index, according to Metals Channel. The Metals Channel Global Mining Titans Index is comprised of the top fifty global leaders from the metals and mining sector. The companies listed in the Metals Channel Global Mining Titans Index are not fixed, but instead variable — updating on a continuous basis to reflect the changing market environment with respect to commodity prices, government policy and market volatility.

From the other direction, when companies have a low rank among analysts, it isn’t necessarily the case that investors should conclude that the stock will perform poorly. It can, of course, but a bullish investor could also take the contrarian angle and read into the data that there is lots of room for upside because the stock is so out of favor.

WDO operates in the Precious Metals sector, among companies like Newmont Corp (NEM) which is up about 4.9% today, and Barrick Gold Corp. (GOLD) trading up by about 11.4%. Below is a three month price history chart comparing the stock performance of WDO, versus NEM and GOLD.

WDO,NEM,GOLD Relative Performance Chart

WDO is currently trading up about 5.3% midday Monday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Credit: Nasdaq

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