Wesdome Gold Mines Ltd. (TSE:WDO) Stock Rated “Buy” by Wall Street Analysts

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) have received an average recommendation of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$33.38.

A number of brokerages recently weighed in on WDO. National Bank Financial raised their price target on shares of Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Desjardins boosted their price objective on shares of Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “hold” rating and upped their price objective for the stock from C$30.00 to C$34.00 in a report on Wednesday, August 19th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st.

Wesdome Gold Mines Trading Down 5.0%

WDO opened at C$29.83 on Thursday. The company has a current ratio of 6.90, a quick ratio of 0.37 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of C$4.28 billion, a PE ratio of 10.77 and a beta of 1.32. Wesdome Gold Mines has a 1-year low of C$19.48 and a 1-year high of C$37.22. The firm has a 50-day moving average price of C$34.11 and a two-hundred day moving average price of C$29.13.

Wesdome Gold Mines (TSE:WDO) last announced its earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share 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. As a group, equities analysts anticipate that Wesdome Gold Mines will post 1.29 earnings per share for the current fiscal year.

Wesdome Gold Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.0306 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%.

Insider Activity

In other news, Director Anthea Ingrid Bath sold 66,961 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total transaction of C$2,085,835.15. Following the transaction, the director owned 130,128 shares of the company’s stock, valued at C$4,053,487.20. This represents a 33.98% decrease in their ownership of the stock. 0.17% of the stock is owned by company 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.