Wesdome Gold Mines (TSE:WDO) Reaches New 12-Month High – Here’s Why

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) reached a new 52-week high on Tuesday . The stock traded as high as C$27.76 and last traded at C$27.48, with a volume of 393740 shares. The stock had previously closed at C$26.81.

Analyst Upgrades and Downgrades

WDO has been the topic of several recent analyst reports. National Bank Financial lifted 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 report on Friday, March 13th. Canaccord Genuity Group lowered Wesdome Gold Mines from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. TD Securities lifted their target price on Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada lifted their price target on Wesdome Gold Mines from C$25.00 to C$29.00 in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$29.00.

Wesdome Gold Mines Trading Up 5.0%

The company has a debt-to-equity ratio of 0.36, a current ratio of 5.80 and a quick ratio of 0.37. The business has a 50-day moving average of C$24.05 and a 200-day moving average of C$23.04. The firm has a market cap of C$4.35 billion, a price-to-earnings ratio of 12.19 and a beta of 1.27.

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

Insider Buying and Selling

In related news, insider Rajbir Gill sold 1,829 shares of Wesdome Gold Mines stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total value of C$41,810.94. Following the sale, the insider owned 23,622 shares of the company’s stock, valued at approximately C$539,998.92. The trade was a 7.19% decrease in their ownership of the stock. Also, insider Kevin Lonergan sold 1,219 shares of Wesdome Gold Mines stock in a transaction dated Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total value of C$27,866.34. Following the completion of the sale, the insider directly owned 2,327 shares in the company, valued at approximately C$53,195.22. This represents a 34.38% decrease in their position. Insiders sold a total of 11,425 shares of company stock worth $261,176 in the last three months. Insiders own 0.17% of the company’s stock.

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.