Wesdome Gold Mines (TSE:WDO) Insider Sells C$27,866.34 in Stock

Key Points

• Insider sale: Kevin Lonergan sold 1,219 shares at an average of C$22.86 for C$27,866.34, cutting his position by 34.38% to 2,327 shares.
• Company results & stock: Wesdome reported Q EPS of C$0.78 and revenue of C$287.88M; the stock traded at C$23.07 (50‑day MA C$24.31, 200‑day MA C$22.69) with a market cap of C$3.56B.
• Analyst outlook: The consensus rating is Hold with an average price target of C$29.00 after several firms raised their targets recently.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) insider Kevin Lonergan sold 1,219 shares of the firm's stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$27,866.34. Following the sale, the insider owned 2,327 shares in the company, valued at approximately C$53,195.22. This represents a 34.38% decrease in their position.

Wesdome Gold Mines Stock Performance

WDO traded up C$1.00 on Wednesday, reaching C$23.07. The stock had a trading volume of 383,549 shares, compared to its average volume of 982,278. The business's 50-day moving average price is C$24.31 and its two-hundred day moving average price is C$22.69. The company has a market cap of C$3.56 billion, a P/E ratio of 9.99 and a beta of 1.15. Wesdome Gold Mines Ltd. has a 12-month low of C$15.21 and a 12-month high of C$27.64. The company has a current ratio of 5.80, a quick ratio of 0.37 and a debt-to-equity ratio of 0.36.

Wesdome Gold Mines (TSE:WDO - Get Free Report) last posted its earnings results on Wednesday, March 11th. The company reported C$0.78 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a net margin of 38.22% and a return on equity of 44.53%. The business had revenue of C$287.88 million for the quarter. Sell-side analysts forecast that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WDO has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price target on Wesdome Gold Mines from C$25.00 to C$29.00 in a research report on Wednesday, December 10th. National Bank Financial upped their target price on Wesdome Gold Mines from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research note on Friday, March 13th. TD Securities increased their target price on Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group cut shares of Wesdome Gold Mines from a "buy" rating to a "hold" rating and lifted their price target for the company from C$27.00 to C$28.00 in a research note on Monday, January 26th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$29.00.

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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