Wesdome Gold Mines (TSE:WDO) Issues Earnings Results

Wesdome Gold Mines (TSE:WDO) released its quarterly earnings data on Thursday. The company reported C$0.65 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$266.76 million during the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%.

Wesdome Gold Mines Stock Down 3.0%

TSE:WDO opened at C$32.68 on Friday. Wesdome Gold Mines has a one year low of C$15.94 and a one year high of C$35.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.03 and a quick ratio of 0.37. The company has a market cap of C$4.85 billion, a PE ratio of 12.19 and a beta of 1.33. The firm’s 50 day simple moving average is C$26.68 and its 200 day simple moving average is C$25.93.

Insider Buying and Selling at Wesdome Gold Mines

In other Wesdome Gold Mines news, insider Philip Chow Yee purchased 6,250 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was 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 purchase, the insider owned 12,500 shares of the company’s stock, valued at approximately C$301,875. The trade was a 100.00% increase in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 7,315 shares of Wesdome Gold Mines stock in a transaction on Monday, June 29th. The stock was sold at an average price of C$24.63, for a total transaction of C$180,168.45. Following the transaction, the director owned 45,753 shares in the company, valued at approximately C$1,126,896.39. This trade represents a 13.78% decrease in their position. In the last quarter, insiders have sold 17,433 shares of company stock valued at $423,454. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WDO. Canadian Imperial Bank of Commerce raised shares of Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and boosted their target price for the stock from C$31.00 to C$32.00 in a research note on Friday, July 17th. Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and increased their price target for the company from C$30.00 to C$31.00 in a research note on Monday, June 1st. National Bank Financial raised Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$34.00 to C$37.00 in a report on Friday, July 3rd. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Desjardins upped 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. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, Wesdome Gold Mines presently has a consensus rating of “Buy” and an average target price of C$31.57.

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.