Wesdome Gold Mines Ltd. (TSE:WDO) Stock Now Rated “Buy” by Sell-Side Brokerages

Wesdome Gold Mines Ltd. (TSE:WDO) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$33.38.

A number of research firms recently commented on WDO. National Bank Financial increased their price target 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. BMO Capital Markets lowered shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and upped their target price for the stock from C$30.00 to C$34.00 in a research note on Wednesday, August 19th. Canadian Imperial Bank of Commerce increased their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a report on Friday, August 21st. Stifel Nicolaus raised shares of Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Desjardins boosted their price target 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, August 19th.

Insider Buying and Selling at Wesdome Gold Mines

In other news, Director Anthea Ingrid Bath sold 66,961 shares of the company’s stock in a transaction that occurred 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 directly owned 130,128 shares of the company’s stock, valued at C$4,053,487.20. This represents a 33.98% decrease in their ownership of the stock. 0.17% of the stock is owned by insiders.

Wesdome Gold Mines Stock Performance

WDO opened at C$34.51 on Thursday. 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 has a fifty-two week low of C$19.48 and a fifty-two week high of C$37.22. The firm has a market capitalization of C$4.95 billion, a PE ratio of 12.46 and a beta of 1.32. The company’s 50-day moving average is C$34.07 and its 200 day moving average is C$29.01.

Wesdome Gold Mines (TSE:WDO) last announced its quarterly earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share for the quarter. The business 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%. As a group, research analysts predict that Wesdome Gold Mines will post 1.29 earnings per share for the current fiscal year.

Wesdome Gold Mines Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.0306 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%.

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.