Wesdome Gold Mines (TSE:WDO) Price Target Raised to C$40.00 at National Bank Financial

Key Points

• National Bank Financial raised Wesdome Gold Mines’ price target to C$40.00 from C$34.50, implying 22.62% upside from the prior close.
• Analyst sentiment remains positive, with a consensus rating of “Buy” and an average target of C$33.00; several firms recently upgraded or increased their targets.
• Wesdome shares rose 5.5% to C$32.62. The company reported C$0.65 in quarterly EPS, C$266.76 million in revenue, a 38.46% net margin and a 43.77% return on equity.

Wesdome Gold Mines (TSE:WDO - Get Free Report) had its price target boosted by investment analysts at National Bank Financial from C$34.50 to C$40.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. National Bank Financial's price target points to a potential upside of 22.62% from the stock's previous close.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus upgraded Wesdome Gold Mines to a "strong-buy" rating in a research report on Monday, June 29th. Canadian Imperial Bank of Commerce raised Wesdome Gold Mines from a "neutral" rating to an "outperformer" rating and increased their price objective for the company from C$31.00 to C$32.00 in a research note on Friday, July 17th. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a "hold" rating to a "buy" rating and raised their target price for the stock from C$30.00 to C$31.00 in a report on Monday, June 1st. BMO Capital Markets downgraded shares of Wesdome Gold Mines from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from C$30.00 to C$34.00 in a research note on Wednesday. Finally, Desjardins lifted their target price on shares of Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of C$33.00.

Wesdome Gold Mines Trading Up 5.5%

Shares of Wesdome Gold Mines stock traded up C$1.71 during trading on Wednesday, reaching C$32.62. The company's stock had a trading volume of 387,521 shares, compared to its average volume of 804,688. The company has a quick ratio of 0.37, a current ratio of 6.90 and a debt-to-equity ratio of 0.73. Wesdome Gold Mines has a 52-week low of C$15.99 and a 52-week high of C$35.35. The firm's 50-day moving average is C$27.11 and its two-hundred day moving average is C$26.08. The company has a market cap of C$4.68 billion, a price-to-earnings ratio of 11.78 and a beta of 1.33.

Wesdome Gold Mines (TSE:WDO - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported C$0.65 EPS for the quarter. The company had revenue of C$266.76 million for the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. On average, sell-side 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, Director Anthea Ingrid Bath sold 7,315 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of C$24.63, for a total transaction of C$180,168.45. Following the completion of the transaction, the director owned 45,753 shares of the company's stock, valued at C$1,126,896.39. This represents a 13.78% decrease in their position. Also, insider Philip Chow Yee acquired 6,250 shares of the company's stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of C$24.15 per share, with a total value of C$150,937.50. Following the acquisition, the insider owned 12,500 shares in the company, valued at approximately C$301,875. This trade represents a 100.00% increase in their position. Insiders have sold 17,433 shares of company stock worth $423,454 in the last quarter. 0.17% of the stock is currently owned by company insiders.

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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