Wesdome Gold Mines (TSE:WDO) Hits New 12-Month High – Still a Buy?

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$26.86 and last traded at C$26.74, with a volume of 57909 shares. The stock had previously closed at C$25.83.

Wall Street Analyst Weigh In

WDO has been the topic of several analyst reports. CIBC upped their target price on shares of Wesdome Gold Mines from C$24.00 to C$27.00 in a research note on Friday, October 10th. Canaccord Genuity Group upped their target price on shares of Wesdome Gold Mines from C$21.50 to C$22.50 in a research note on Thursday, October 2nd. Stifel Nicolaus upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$20.50 to C$28.00 in a research note on Monday, October 20th. Royal Bank Of Canada lifted their target price on shares of Wesdome Gold Mines from C$25.00 to C$29.00 in a research report on Wednesday, December 10th. Finally, Stifel Canada upgraded Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Wesdome Gold Mines currently has a consensus rating of “Buy” and an average price target of C$25.42.

Wesdome Gold Mines Stock Up 3.5%

The company’s 50 day moving average price is C$22.73 and its two-hundred day moving average price is C$20.49. The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30. The firm has a market cap of C$4.04 billion, a PE ratio of 14.00 and a beta of 0.48.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Tuesday, November 4th. The company reported C$0.58 earnings per share for the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%.The company had revenue of C$230.28 million for the quarter. On average, equities research analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.