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

Key Points

• Analysts maintain a bullish view: Wesdome Gold Mines has an average “Buy” rating from six brokerages, with an average 12-month price target of C$33.00. Recent targets range as high as C$40.00, although BMO downgraded the stock to “market perform.”
• Shares rose 7.9% to C$33.36 on Wednesday, near the company’s 52-week high of C$35.35. Wesdome has a market capitalization of approximately C$4.79 billion and trades at a P/E ratio of 12.04.
• The company reported quarterly EPS of C$0.65 and revenue of C$266.76 million, with a 38.46% net margin and 43.77% return on equity. Insider activity was mixed: one insider bought shares, while directors sold approximately C$2.51 million worth over the past 90 days.

Shares of Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) have been assigned an average recommendation of "Buy" from the six ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$33.00.

A number of brokerages recently issued reports on WDO. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a "hold" rating to a "buy" rating and upped their price target for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. Desjardins lifted their target price on shares of Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a "buy" rating in a report on Wednesday. Canadian Imperial Bank of Commerce upgraded shares of Wesdome Gold Mines from a "neutral" rating to an "outperformer" rating and upped their target price for the stock from C$31.00 to C$32.00 in a research note on Friday, July 17th. National Bank Financial increased their price target on shares of Wesdome Gold Mines from C$34.50 to C$40.00 in a report on Wednesday. Finally, BMO Capital Markets downgraded shares of Wesdome Gold Mines from an "outperform" rating to a "market perform" rating and raised their price target for the company from C$30.00 to C$34.00 in a research report on Wednesday.

Wesdome Gold Mines Stock Up 7.9%

WDO stock traded up C$2.45 on Wednesday, reaching C$33.36. 527,972 shares of the company traded hands, compared to its average volume of 805,396. The firm has a fifty day simple moving average of C$27.11 and a 200-day simple moving average of C$26.08. The company has a market cap of C$4.79 billion, a P/E ratio of 12.04 and a beta of 1.33. Wesdome Gold Mines has a one year low of C$15.99 and a one year high of C$35.35. 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 (TSE:WDO - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported C$0.65 EPS for the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%.The business had revenue of C$266.76 million for the quarter. Research analysts anticipate that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Insiders Place Their Bets

In other Wesdome Gold Mines news, insider Philip Chow Yee purchased 6,250 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of C$24.15 per share, for a total transaction of C$150,937.50. Following the completion of the purchase, the insider directly owned 12,500 shares of the company's stock, valued at C$301,875. This trade represents a 100.00% increase in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 66,961 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total value of C$2,085,835.15. Following the completion of the transaction, the director owned 130,128 shares of the company's stock, valued at C$4,053,487.20. This represents a 33.98% decrease in their position. Over the last 90 days, insiders sold 84,394 shares of company stock valued at $2,509,289. 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.

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