Wesdome Gold Mines Ltd. (TSE:WDO) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts maintain a “Buy” consensus on Wesdome Gold Mines, with four buy ratings, one strong-buy rating and one hold rating. The average 12-month price target is C$33.38, while recent targets from National Bank Financial and Desjardins reached C$40.00.
• Wesdome reported quarterly revenue of C$266.76 million and earnings of C$0.65 per share, alongside a 38.46% net margin and 43.77% return on equity. Shares opened at C$35.06, near their 52-week high of C$36.47.
• The company declared a quarterly dividend of C$0.0306 per share, equivalent to an annualized C$0.12 payout and a 0.3% yield. Recent insider activity was mixed, with an insider purchase but substantially greater insider selling over the past 90 days.

Shares of Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) have been given a consensus recommendation of "Buy" by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One equities 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 brokerages that have covered the stock in the last year is C$33.38.

Several brokerages recently weighed in on WDO. National Bank Financial increased 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 report on Wednesday, August 19th. Canadian Imperial Bank of Commerce lifted their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a report on Friday, August 21st. BMO Capital Markets cut shares of Wesdome Gold Mines from an "outperform" rating to a "hold" rating and upped their target price for the company from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Stifel Nicolaus raised Wesdome Gold Mines to a "strong-buy" rating in a research note on Monday, June 29th. Finally, Desjardins raised their price target 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, August 19th.

Wesdome Gold Mines Stock Performance

Shares of TSE:WDO opened at C$35.06 on Friday. The stock has a market capitalization of C$5.03 billion, a P/E ratio of 12.66 and a beta of 1.65. Wesdome Gold Mines has a 1-year low of C$18.08 and a 1-year high of C$36.47. The company has a current ratio of 6.90, a quick ratio of 0.37 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of C$30.36 and a two-hundred day moving average price of C$27.46.

Wesdome Gold Mines (TSE:WDO - Get Free Report) 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 predict that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Wesdome Gold Mines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be paid a $0.0306 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 annualized dividend and a yield of 0.3%.

Insider Buying and Selling

In related news, insider Philip Chow Yee bought 6,250 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of C$24.15 per share, for a total transaction of C$150,937.50. Following the transaction, the insider owned 12,500 shares of the company's stock, valued at C$301,875. This represents a 100.00% increase in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 66,961 shares of the company's stock in a transaction dated 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 completion of the sale, the director directly owned 130,128 shares of the company's stock, valued at approximately C$4,053,487.20. This trade represents a 33.98% decrease in their ownership of the stock. Insiders have sold a total of 84,394 shares of company stock worth $2,509,289 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

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.

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