Wesdome Gold Mines (TSE:WDO) Sets New 12-Month High – Should You Buy?

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) reached a new 52-week high on Monday . The company traded as high as C$26.86 and last traded at C$26.74, with a volume of 57909 shares. The stock had previously closed at C$25.83.

Analysts Set New Price Targets

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

Wesdome Gold Mines Stock Performance

The company has a market cap of C$4.04 billion, a P/E ratio of 14.00 and a beta of 0.48. 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 business has a 50 day moving average price of C$22.73 and a two-hundred day moving average price of C$20.49.

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