This out this morningThese Analysts Think Wesdome Gold Mines Ltd.'s (TSE:WDO) Sales Are Under Threat WDOFF -1.67% Simply Wall St Wed, January 25, 2023 at 9:49 a.m. EST In this article: WDOFF -1.67% Market forces rained on the parade of Wesdome Gold Mines Ltd. (TSE:WDO) shareholders today, when the analysts downgraded their forecasts for next year. Revenue estimates were cut sharply as analysts signalled a weaker outlook - perhaps a sign that investors should temper their expectations as well. After the downgrade, the six analysts covering Wesdome Gold Mines are now predicting revenues of CA$318m in 2023. If met, this would reflect a notable 15% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of CA$383m in 2023. It looks like forecasts have become a fair bit less optimistic on Wesdome Gold Mines, given the measurable cut to revenue estimates. See our latest analysis for Wesdome Gold Mines earnings-and-revenue-growth earnings-and-revenue-growth The consensus price target fell 9.9% to CA$10.31, with the analysts clearly less optimistic about Wesdome Gold Mines' valuation following this update. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on Wesdome Gold Mines, with the most bullish analyst valuing it at CA$15.00 and the most bearish at CA$6.40 per share. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business. Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's pretty clear that there is an expectation that Wesdome Gold Mines' revenue growth will slow down substantially, with revenues to the end of 2023 expected to display 12% growth on an annualised basis. This is compared to a historical growth rate of 23% over the past five years. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 11% annually. So it's pretty clear that, while Wesdome Gold Mines' revenue growth is expected to slow, it's expected to grow roughly in line with the industry. The Bottom Line The most important thing to take away is that analysts cut their revenue estimates for next year. The analysts also expect revenues to grow approximately in line with the wider market. Furthermore, there was a cut to the price target, suggesting that the latest news has led to more pessimism about the intrinsic value of the business. Given the stark change in sentiment, we'd understand if investors became more cautious on Wesdome Gold Mines after today. But wait - there's more! We have estimates for Wesdome Gold Mines from its six analysts out until 2025, and you can see them free on our platform here.