Wesdome Gold Mines (TSE:WDO) Reaches New 12-Month High – Time to Buy?

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$24.81 and last traded at C$24.76, with a volume of 515375 shares trading hands. The stock had previously closed at C$23.57.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WDO shares. Canaccord Genuity Group boosted their target price on Wesdome Gold Mines from C$21.50 to C$22.50 in a research note on Thursday, October 2nd. Stifel Canada raised Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada increased their price objective on Wesdome Gold Mines from C$25.00 to C$29.00 in a research note on Wednesday, December 10th. Stifel Nicolaus upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and raised their target price for the stock from C$20.50 to C$28.00 in a report on Monday, October 20th. Finally, CIBC upped their price target on shares of Wesdome Gold Mines from C$24.00 to C$27.00 in a report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Wesdome Gold Mines has an average rating of “Buy” and an average price target of C$25.42.

Wesdome Gold Mines Trading Down 0.5%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14. The stock has a market capitalization of C$3.71 billion, a P/E ratio of 12.87 and a beta of 0.48. The stock has a 50-day moving average price of C$22.12 and a two-hundred day moving average price of C$20.19.

Wesdome Gold Mines (TSE:WDO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$0.58 EPS for the quarter. The company had revenue of C$230.28 million during the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%. On average, research analysts forecast that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

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.