Wesdome Gold Mines (TSE:WDO) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Wesdome Gold Mines (TSE:WDO) from a neutral rating to an outperformer rating in a research report sent to investors on Friday,BayStreet.CA reports. They currently have C$32.00 target price on the stock, up from their prior target price of C$31.00.

WDO has been the topic of several other reports. Desjardins increased their target price on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their price target for the company from C$30.00 to C$31.00 in a research report on Monday, June 1st. National Bank Financial upgraded Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$34.00 to C$37.00 in a research note on Friday, July 3rd. Finally, Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, Wesdome Gold Mines presently has an average rating of “Buy” and a consensus target price of C$31.57.

Wesdome Gold Mines Stock Performance

TSE:WDO opened at C$25.32 on Friday. The company has a quick ratio of 0.37, a current ratio of 6.03 and a debt-to-equity ratio of 0.31. The company has a market cap of C$3.75 billion, a P/E ratio of 9.45 and a beta of 1.33. Wesdome Gold Mines has a fifty-two week low of C$15.94 and a fifty-two week high of C$30.98. The firm’s 50 day moving average is C$26.21 and its two-hundred day moving average is C$25.38.

Wesdome Gold Mines (TSE:WDO) last announced 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 company had revenue of C$299.79 million for the quarter. Analysts expect that Wesdome Gold Mines will post 1.293456 EPS for the current year.

Insider Buying and Selling

In other Wesdome Gold Mines news, insider Robert Kallio sold 4,341 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of C$24.11, for a total value of C$104,661.51. Following the transaction, the insider directly owned 4,029 shares of the company’s stock, valued at C$97,139.19. This trade represents a 51.86% decrease in their ownership of the stock. Also, insider Philip Chow Yee acquired 6,250 shares of Wesdome Gold Mines stock in a transaction on Tuesday, June 30th. The shares were bought at an average price of C$24.15 per share, for a total transaction of C$150,937.50. Following the purchase, the insider owned 12,500 shares of the company’s stock, valued at C$301,875. This represents a 100.00% increase in their ownership of the stock. Over the last three months, 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.