Wesdome Gold Mines Ltd. (TSE:WDO) Announces Quarterly Dividend of $0.03

Key Points

• Wesdome Gold Mines declared a quarterly dividend of C$0.0306 per share, implying an annualized yield of approximately 0.3%. Shareholders of record on September 29 are scheduled to receive the payment that day.
• Wesdome reported quarterly EPS of C$0.65 on revenue of C$266.76 million, with a 38.46% net margin and 43.77% return on equity.
• The stock recently traded at C$35.06, near its 52-week high of C$36.47, while analysts maintained a consensus “Buy” rating with an average price target of C$33.38.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) declared a quarterly dividend on Tuesday, September 15th. Stockholders of record on Tuesday, September 29th will be given a dividend of 0.0306 per share on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Wesdome Gold Mines Stock Performance

Shares of Wesdome Gold Mines stock traded up C$1.54 during trading hours on Friday, hitting C$35.06. 412,898 shares of the company were exchanged, compared to its average volume of 775,606. 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 of C$30.36 and a 200-day moving average of C$27.46. Wesdome Gold Mines has a 1 year low of C$18.08 and a 1 year high of C$36.47. The stock has a market capitalization of C$5.03 billion, a price-to-earnings ratio of 12.66 and a beta of 1.65.

Wesdome Gold Mines (TSE:WDO - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported C$0.65 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 during the quarter. As a group, analysts expect that Wesdome Gold Mines will post 1.293456 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WDO shares. BMO Capital Markets cut Wesdome Gold Mines from an "outperform" rating to a "hold" rating and raised their price target for the company from C$30.00 to C$34.00 in a report on Wednesday, August 19th. Desjardins upped their price target 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. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a "hold" rating to a "buy" rating and upped their target price for the stock from C$30.00 to C$31.00 in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a report on Friday, August 21st. Finally, Stifel Nicolaus upgraded shares of Wesdome Gold Mines to a "strong-buy" rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Wesdome Gold Mines presently has a consensus rating of "Buy" and an average target price of C$33.38.

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.

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