Insider Buying: Wesdome Gold Mines (TSE:WDO) Insider Acquires C$150,937.50 in Stock

Wesdome Gold Mines Ltd. (TSE:WDO) insider Philip Chow Yee purchased 6,250 shares of Wesdome Gold Mines stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of C$24.15 per share, with a total value of C$150,937.50. Following the completion of the acquisition, the insider owned 12,500 shares in the company, valued at C$301,875. The trade was a 100.00% increase in their ownership of the stock.

Wesdome Gold Mines Stock Up 6.6%

Shares of TSE WDO traded up C$1.60 during trading hours on Thursday, hitting C$25.95. The stock had a trading volume of 621,984 shares, compared to its average volume of 862,546. The firm’s 50-day moving average price is C$26.25 and its two-hundred day moving average price is C$25.15. Wesdome Gold Mines Ltd. has a 52 week low of C$15.94 and a 52 week high of C$30.98. The company has a market capitalization of C$3.85 billion, a P/E ratio of 9.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 6.03.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.79 earnings per share (EPS) for the quarter. The business had revenue of C$299.79 million during the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. Analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Desjardins boosted their target price on 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. National Bank Financial lifted their price target on shares of 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. Finally, Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.14.

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.