Wesdome Gold Mines (TSE:WDO) Hits New 1-Year High - What's Next?

Key Points

• Wesdome Gold Mines reached a new 52-week high, trading as high as C$36.86 and closing around C$36.67, up 4.6% from its prior close.
• Analyst sentiment remains favorable, with an average “Buy” rating; Desjardins and National Bank Financial raised their price targets to C$40, although the consensus target is C$33.38.
• The company reported quarterly EPS of C$0.65 on C$266.76 million in revenue and announced a quarterly dividend of C$0.0306, representing a 0.3% annualized yield; insiders have been net sellers recently.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as C$36.86 and last traded at C$36.67, with a volume of 176271 shares traded. The stock had previously closed at C$35.16.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canadian Imperial Bank of Commerce raised their price objective on Wesdome Gold Mines from C$32.00 to C$35.00 in a research note on Friday, August 21st. Stifel Nicolaus upgraded Wesdome Gold Mines to a "strong-buy" rating in a report on Monday, June 29th. BMO Capital Markets lowered Wesdome Gold Mines from an "outperform" rating to a "hold" rating and raised their price target for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Desjardins lifted their price objective on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Finally, National Bank Financial boosted their price objective on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an "outperform" rating in a research report on Wednesday, August 19th. 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. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$33.38.

Wesdome Gold Mines Stock Up 4.6%

The firm has a market capitalization of C$5.28 billion, a P/E ratio of 13.27 and a beta of 1.65. The firm's 50-day moving average is C$31.30 and its 200 day moving average is C$27.80. 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 - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. The firm had revenue of C$266.76 million for the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%. As a group, equities research analysts predict that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

Wesdome Gold Mines Dividend Announcement

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

Insider Transactions at Wesdome Gold Mines

In other news, Director Anthea Ingrid Bath sold 66,961 shares of the firm's 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 transaction of C$2,085,835.15. Following the completion of the transaction, the director directly owned 130,128 shares of the company's stock, valued at C$4,053,487.20. This trade represents a 33.98% decrease in their position. Also, insider Rajbir Gill acquired 1,047 shares of the stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of C$24.02 per share, for a total transaction of C$25,148.94. Following the completion of the acquisition, the insider directly 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. Insiders sold a total of 84,394 shares of company stock worth $2,509,289 in the last 90 days. 0.17% of the stock is 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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