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

Wesdome Gold Mines Ltd. (TSE:WDO) has been given an average recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$33.00.

WDO has been the topic of several research analyst reports. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and increased their price target for the company from C$30.00 to C$31.00 in a report on Monday, June 1st. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. National Bank Financial upped their price objective on Wesdome Gold Mines from C$34.50 to C$40.00 in a research report on Wednesday. BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “market perform” rating and increased their target price for the company from C$30.00 to C$34.00 in a report on Wednesday. Finally, Desjardins raised their target price on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research report on Wednesday.

Wesdome Gold Mines Stock Performance

Shares of WDO traded up C$2.45 during mid-day trading on Wednesday, hitting C$33.36. 527,972 shares of the company traded hands, compared to its average volume of 805,396. The stock has a market cap of C$4.79 billion, a price-to-earnings ratio of 12.04 and a beta of 1.33. The stock has a 50-day moving average price of C$27.11 and a two-hundred day moving average price of C$26.08. Wesdome Gold Mines has a 1 year low of C$15.99 and a 1 year high of C$35.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90.

Wesdome Gold Mines (TSE:WDO) last issued 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 net margin of 38.46% and a return on equity of 43.77%. The company had revenue of C$266.76 million for the quarter. Equities analysts anticipate that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Insider Buying and Selling at Wesdome Gold Mines

In other news, 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 in the company, valued at C$4,053,487.20. This represents a 33.98% decrease in their position. Also, insider Philip Chow Yee acquired 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of C$24.15 per share, for a total transaction of C$150,937.50. Following the acquisition, the insider owned 12,500 shares of the company’s stock, valued at C$301,875. The trade was a 100.00% increase in their position. Insiders sold 84,394 shares of company stock worth $2,509,289 over the last 90 days. 0.17% of the stock is owned by company 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.