Wesdome Gold Mines Ltd. (TSE:WDO) Given Average Rating of “Buy” by Brokerages

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) have received an average rating of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$33.38.

Several equities analysts recently weighed in on the company. BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “hold” rating and lifted their target price for the company from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their price target for the stock from C$30.00 to C$31.00 in a research report on Monday, June 1st. Desjardins increased their price objective on shares of Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. National Bank Financial raised their price objective on shares of Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Finally, Stifel Nicolaus upgraded shares of Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th.

Insider Transactions at Wesdome Gold Mines

In other news, insider Philip Chow Yee acquired 6,250 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of C$24.15 per share, with a total value of C$150,937.50. Following the acquisition, the insider directly 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 66,961 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$31.15, for a total value of C$2,085,835.15. Following the transaction, the director owned 130,128 shares of the company’s stock, valued at C$4,053,487.20. This represents a 33.98% decrease in their ownership of the stock. Insiders sold 84,394 shares of company stock valued at $2,509,289 over the last 90 days. Insiders own 0.17% of the company’s stock.

Wesdome Gold Mines Price Performance

WDO opened at C$34.77 on Friday. The company’s 50-day simple moving average is C$30.93 and its two-hundred day simple moving average is C$27.68. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90. The stock has a market capitalization of C$4.99 billion, a P/E ratio of 12.55 and a beta of 1.65. Wesdome Gold Mines has a 52-week low of C$18.15 and a 52-week high of C$36.47.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share for the quarter. The firm had revenue of C$266.76 million for the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%. As a group, analysts predict that Wesdome Gold Mines will post 1.293456 EPS for the current year.

Wesdome Gold Mines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.0306 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 15th.

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.