Desjardins Issues Positive Forecast for Wesdome Gold Mines (TSE:WDO) Stock Price

Wesdome Gold Mines (TSE:WDO) had its price target hoisted by Desjardins from C$32.00 to C$34.00 in a research report sent to investors on Thursday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

WDO has been the subject of a number of other reports. Canaccord Genuity Group lowered shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and increased their target price for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. National Bank Financial increased their target price on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a report on Friday, March 13th. Finally, TD Securities increased their target price on shares of Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$29.71.

Wesdome Gold Mines Stock Performance

Wesdome Gold Mines stock opened at C$27.26 on Thursday. The company has a current ratio of 5.80, a quick ratio of 0.37 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of C$25.40 and a 200-day moving average of C$23.65. The firm has a market cap of C$4.04 billion, a P/E ratio of 11.80 and a beta of 1.27. Wesdome Gold Mines has a 1-year low of C$15.72 and a 1-year high of C$29.66.

Wesdome Gold Mines (TSE:WDO) last posted its earnings results on Wednesday, March 11th. The company reported C$0.78 earnings per share for the quarter. The company had revenue of C$287.88 million during the quarter. Wesdome Gold Mines had a net margin of 38.22% and a return on equity of 44.53%. Sell-side analysts expect that Wesdome Gold Mines will post 1.293456 EPS for the current year.

Insider Activity at Wesdome Gold Mines

In other Wesdome Gold Mines news, insider Kevin Lonergan sold 1,219 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total value of C$27,866.34. Following the completion of the sale, the insider directly owned 2,327 shares in the company, valued at C$53,195.22. This trade represents a 34.38% decrease in their ownership of the stock. Also, insider Rajbir Gill sold 1,829 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total transaction of C$41,810.94. Following the completion of the sale, the insider owned 23,622 shares of the company’s stock, valued at C$539,998.92. This trade represents a 7.19% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 11,425 shares of company stock valued at $261,176. 0.17% of the stock is currently owned by corporate 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.