Wesdome Gold Mines (TSE:WDO) Price Target Raised to C$40.00 at Desjardins

Wesdome Gold Mines (TSE:WDO) had its target price raised by Desjardins from C$34.00 to C$40.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 22.62% from the company’s previous close.

Several other brokerages have also recently issued reports on WDO. Canadian Imperial Bank of Commerce upgraded Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and lifted their price objective for the company from C$31.00 to C$32.00 in a research note on Friday, July 17th. National Bank Financial upped their target price on shares of Wesdome Gold Mines from C$34.50 to C$40.00 in a research note on Wednesday. Stifel Nicolaus raised shares of Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. Finally, BMO Capital Markets cut shares of Wesdome Gold Mines from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from C$30.00 to C$34.00 in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$33.00.

Wesdome Gold Mines Stock Up 5.5%

Shares of TSE WDO traded up C$1.71 during mid-day trading on Wednesday, hitting C$32.62. The company had a trading volume of 387,521 shares, compared to its average volume of 804,688. The company has a market capitalization of C$4.68 billion, a PE ratio of 11.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 6.90 and a quick ratio of 0.37. Wesdome Gold Mines has a 1-year low of C$15.99 and a 1-year high of C$35.35. The business’s 50-day simple moving average is C$27.11 and its 200 day simple moving average is C$26.08.

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

Insiders Place Their Bets

In other news, Director Anthea Ingrid Bath sold 7,315 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of C$24.63, for a total transaction of C$180,168.45. Following the sale, the director owned 45,753 shares of the company’s stock, valued at approximately C$1,126,896.39. This trade represents a 13.78% decrease in their position. Also, insider Rajbir Gill bought 1,047 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of C$24.02 per share, with a total value of C$25,148.94. Following the purchase, the insider owned 24,669 shares of the company’s stock, valued at C$592,549.38. The trade was a 4.43% increase in their ownership of the stock. In the last quarter, insiders have sold 17,433 shares of company stock worth $423,454. 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.