Wesdome Gold Mines (TSE:WDO) Sets New 12-Month High – What’s Next?

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$29.69 and last traded at C$29.57, with a volume of 15479 shares trading hands. The stock had previously closed at C$29.31.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. National Bank Financial raised their target price on Wesdome Gold Mines from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a research report on Friday, March 13th. Canaccord Genuity Group lowered shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and increased their price target for the company from C$27.00 to C$28.00 in a research report on Monday, January 26th. Desjardins raised their price objective on shares of Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, TD Securities lifted their price objective on shares of Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$29.71.

Wesdome Gold Mines Trading Down 1.0%

The company has a debt-to-equity ratio of 0.36, a current ratio of 5.80 and a quick ratio of 0.37. The firm has a fifty day simple moving average of C$25.76 and a two-hundred day simple moving average of C$24.01. The firm has a market capitalization of C$4.55 billion, a P/E ratio of 13.26 and a beta of 1.29.

Wesdome Gold Mines (TSE:WDO) last issued its earnings results on Tuesday, May 12th. The company reported C$0.79 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a return on equity of 44.53% and a net margin of 38.22%.The firm had revenue of C$299.79 million for the quarter. On average, equities research analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current fiscal year.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, insider Kevin Lonergan sold 1,219 shares of the company’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$27,866.34. Following the sale, the insider directly owned 2,327 shares of the company’s stock, valued at C$53,195.22. This represents a 34.38% decrease in their ownership of the stock. Also, insider Ronald James Jonathan Lawrence sold 1,557 shares of the stock in a transaction dated 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 transaction, the insider owned 1,259 shares of the company’s stock, valued at C$28,780.74. This represents a 55.29% decrease in their position. In the last quarter, insiders sold 11,425 shares of company stock worth $261,176. Insiders own 0.17% of the company’s stock.

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.