Wesdome Gold Mines (TSE:WDO) Shares Down 12.3% – Should You Sell?

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) dropped 12.3% during mid-day trading on Friday . The stock traded as low as C$26.83 and last traded at C$26.88. Approximately 342,242 shares traded hands during trading, a decline of 62% from the average daily volume of 901,126 shares. The stock had previously closed at C$30.64.

Analyst Ratings Changes

Several research firms recently commented on WDO. TD Securities raised their price objective on shares of Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. National Bank Financial raised their price objective 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. Desjardins raised their price objective on shares of 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. Finally, Canaccord Genuity Group downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$29.71.

Wesdome Gold Mines Stock Performance

The company’s fifty day moving average is C$25.89 and its 200 day moving average is C$24.10. The company has a market capitalization of C$4.02 billion, a P/E ratio of 10.13 and a beta of 1.29. The company has a current ratio of 6.03, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.79 EPS for the quarter. The company 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%. As a group, equities analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Insider Buying and Selling at Wesdome Gold Mines

In other Wesdome Gold Mines news, insider Ronald James Jonathan Lawrence sold 1,557 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total value of C$35,593.02. Following the completion of the transaction, the insider directly owned 1,259 shares of the company’s stock, valued at C$28,780.74. This trade represents a 55.29% decrease in their position. Also, insider Kevin Lonergan sold 1,219 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$27,866.34. Following the completion of the transaction, the insider directly owned 2,327 shares of the company’s stock, valued at approximately C$53,195.22. The trade was a 34.38% decrease in their ownership of the stock. Insiders sold a total of 11,425 shares of company stock valued at $261,176 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

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.