Wesdome Gold Mines (TSE:WDO) Reaches New 12-Month High – Here’s Why

Wesdome Gold Mines Ltd. (TSE:WDO) reached a new 52-week high during trading on Tuesday . The company traded as high as C$27.76 and last traded at C$27.48, with a volume of 393740 shares traded. The stock had previously closed at C$26.81.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada increased their price objective on Wesdome Gold Mines from C$25.00 to C$29.00 in a research report on Wednesday, December 10th. TD Securities increased their price objective on Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. National Bank Financial increased their price objective on Wesdome Gold Mines from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a research report on Friday, March 13th. Finally, Canaccord Genuity Group lowered Wesdome Gold Mines from a “buy” rating to a “hold” rating and increased their price objective for the company from C$27.00 to C$28.00 in a research report on Monday, January 26th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wesdome Gold Mines has an average rating of “Hold” and a consensus target price of C$29.00.

Wesdome Gold Mines Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.37 and a current ratio of 5.80. The firm has a market capitalization of C$4.35 billion, a P/E ratio of 12.19 and a beta of 1.27. The company has a 50-day moving average price of C$24.05 and a 200-day moving average price of C$23.04.

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

Insider Buying and Selling

In related news, Director Anthea Ingrid Bath sold 4,100 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total transaction of C$93,726.00. Following the sale, the director owned 40,456 shares of the company’s stock, valued at approximately C$924,824.16. This trade represents a 9.20% decrease in their position. Also, insider Rajbir Gill sold 1,829 shares of Wesdome Gold Mines stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total value of C$41,810.94. Following the transaction, the insider owned 23,622 shares in the company, valued at approximately C$539,998.92. This represents a 7.19% decrease in their ownership of the stock. Insiders have sold 11,425 shares of company stock valued at $261,176 over the last 90 days. Company insiders own 0.17% of the company’s stock.

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.