Wesdome Gold Mines (TSE:WDO) Posts Earnings Results

Wesdome Gold Mines (TSE:WDO) posted its quarterly earnings data on Tuesday. The company reported C$0.79 EPS for the quarter, FiscalAI reports. The business had revenue of C$299.79 million for the quarter. Wesdome Gold Mines had a return on equity of 44.53% and a net margin of 38.22%.

Wesdome Gold Mines Trading Up 2.4%

Shares of TSE WDO traded up C$0.71 on Tuesday, reaching C$30.02. 1,553,765 shares of the company traded hands, compared to its average volume of 910,496. Wesdome Gold Mines has a fifty-two week low of C$15.94 and a fifty-two week high of C$30.20. The company has a 50 day moving average of C$25.62 and a 200 day moving average of C$23.89. The company has a current ratio of 5.80, a quick ratio of 0.37 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of C$4.45 billion, a PE ratio of 13.00 and a beta of 1.29.

Insider Activity at Wesdome Gold Mines

In related news, insider Kevin Lonergan sold 1,219 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total value of C$27,866.34. Following the sale, the insider directly owned 2,327 shares of the company’s stock, valued at approximately C$53,195.22. This trade represents a 34.38% decrease in their ownership of the stock. Also, insider Ronald James Jonathan Lawrence sold 1,557 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total transaction of C$35,593.02. Following the completion of the sale, the insider directly owned 1,259 shares in the company, valued at C$28,780.74. This represents a 55.29% decrease in their ownership of the stock. Insiders sold a total of 11,425 shares of company stock valued at $261,176 over the last three months. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WDO shares. Canaccord Genuity Group downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. TD Securities upped their price objective on shares of Wesdome Gold Mines from C$25.00 to C$30.00 in a research note on Thursday, January 22nd. National Bank Financial lifted their target price on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Friday, March 13th. Finally, Desjardins boosted their price target 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$29.71.

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.