Wesdome Gold Mines Ltd. (TSE:WDO) Receives C$33.00 Consensus Target Price from Analysts

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) have received an average rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$33.38.

A number of analysts recently issued reports on WDO shares. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$30.00 to C$31.00 in a research report on Monday, June 1st. Desjardins raised their price target on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. National Bank Financial raised their price target on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. Finally, BMO Capital Markets cut Wesdome Gold Mines from an “outperform” rating to a “hold” rating and boosted their price target for the company from C$30.00 to C$34.00 in a research note on Wednesday, August 19th.

Wesdome Gold Mines Price Performance

Shares of WDO opened at C$36.00 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 6.90 and a quick ratio of 0.37. The company has a market capitalization of C$5.17 billion, a price-to-earnings ratio of 13.00 and a beta of 1.33. The business’s 50-day moving average is C$28.05 and its 200-day moving average is C$26.52. Wesdome Gold Mines has a fifty-two week low of C$17.20 and a fifty-two week high of C$36.47.

Wesdome Gold Mines (TSE:WDO) last issued its earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. The company had revenue of C$266.76 million during the quarter. Equities research analysts expect that Wesdome Gold Mines will post 1.293456 EPS for the current fiscal year.

Insider Buying and Selling at Wesdome Gold Mines

In other Wesdome Gold Mines news, insider Philip Chow Yee purchased 6,250 shares of the company’s stock in a transaction dated 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 directly owned 12,500 shares in the company, valued at C$301,875. This trade represents a 100.00% increase in their position. Also, insider Robert Kallio sold 3,348 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$23.89, for a total transaction of C$79,983.72. Following the transaction, the insider owned 2,000 shares in the company, valued at approximately C$47,780. This trade represents a 62.60% decrease in their position. Insiders have sold 84,394 shares of company stock valued at $2,509,289 over the last three months. 0.17% of the stock is owned by insiders.

About Wesdome Gold Mines

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.