Wesdome Gold Mines (TSE:WDO) Upgraded to Outperform at National Bank Financial

Wesdome Gold Mines (TSE:WDO) was upgraded by analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued on Friday,BayStreet.CA reports. The firm presently has a C$37.00 price objective on the stock, up from their prior price objective of C$34.00. National Bank Financial’s price objective suggests a potential upside of 32.14% from the company’s previous close.

A number of other analysts have also commented on WDO. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday. Desjardins boosted their price objective on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their target price for the stock from C$30.00 to C$31.00 in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Wesdome Gold Mines has a consensus rating of “Buy” and a consensus price target of C$30.86.

Wesdome Gold Mines Stock Up 7.1%

TSE WDO traded up C$1.86 on Friday, hitting C$28.00. 241,751 shares of the company were exchanged, compared to its average volume of 862,082. The company has a current ratio of 6.03, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The company has a market cap of C$4.15 billion, a PE ratio of 10.45 and a beta of 1.17. The stock has a fifty day moving average of C$26.22 and a 200-day moving average of C$25.18. Wesdome Gold Mines has a 12 month low of C$15.94 and a 12 month high of C$30.98.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported C$0.79 earnings per share for the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. The firm had revenue of C$299.79 million during the quarter. As a group, analysts forecast that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anthea Ingrid Bath sold 7,315 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of C$24.63, for a total value of C$180,168.45. Following the transaction, the director owned 45,753 shares in the company, valued at C$1,126,896.39. This trade represents a 13.78% decrease in their ownership of the stock. Also, insider Robert Kallio sold 3,348 shares of Wesdome Gold Mines stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of C$23.89, for a total value of C$79,983.72. Following the transaction, the insider directly owned 2,000 shares in the company, valued at approximately C$47,780. The trade was a 62.60% decrease in their position. In the last ninety days, insiders sold 17,433 shares of company stock valued at $423,454. 0.17% of the stock is owned by company insiders.

Wesdome Gold Mines Company Profile

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.