Wesdome Gold Mines (TSE:WDO) Hits New 12-Month High – Here’s Why

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price hit a new 52-week high on Monday . The company traded as high as C$17.17 and last traded at C$16.77, with a volume of 54119 shares trading hands. The stock had previously closed at C$16.84.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WDO shares. TD Securities raised shares of Wesdome Gold Mines to a “hold” rating in a report on Tuesday, February 4th. National Bankshares upped their price objective on shares of Wesdome Gold Mines from C$19.75 to C$22.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 26th. Finally, Desjardins lifted their target price on shares of Wesdome Gold Mines from C$17.50 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$16.19.

Wesdome Gold Mines Price Performance

The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is C$14.96 and its 200-day moving average price is C$13.52. The company has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 31.15 and a beta of 0.85.

Insiders Place Their Bets

In other Wesdome Gold Mines news, Senior Officer Rajbir Gill sold 7,884 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of C$16.26, for a total transaction of C$128,193.84. Company insiders own 0.17% of the company’s stock.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.