Wesdome Gold Mines (TSE:WDO) Posts Quarterly Earnings Results

Wesdome Gold Mines (TSE:WDO) posted its earnings results on Tuesday. The company reported C$0.79 earnings per share (EPS) for the quarter, FiscalAI reports. Wesdome Gold Mines had a return on equity of 44.53% and a net margin of 38.22%.The firm had revenue of C$299.79 million for the quarter.

Wesdome Gold Mines Stock Up 2.4%

WDO stock opened at C$30.02 on Wednesday. Wesdome Gold Mines has a fifty-two week low of C$15.94 and a fifty-two week high of C$30.20. The business’s 50-day moving average is C$25.68 and its two-hundred day moving average is C$23.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.37 and a current ratio of 5.80. The company has a market cap of C$4.45 billion, a price-to-earnings ratio of 13.00 and a beta of 1.29.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, insider Kevin Lonergan sold 1,219 shares of the 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$27,866.34. Following the transaction, the insider owned 2,327 shares of the company’s stock, valued at approximately C$53,195.22. This represents a 34.38% decrease in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 4,100 shares of the 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$93,726.00. Following the completion of the transaction, the director directly owned 40,456 shares in the company, valued at approximately C$924,824.16. This represents a 9.20% decrease in their position. Insiders sold a total of 11,425 shares of company stock worth $261,176 in the last ninety days. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Desjardins boosted their target price on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Canaccord Genuity Group downgraded Wesdome Gold Mines from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. TD Securities boosted their target price on Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. Finally, National Bank Financial boosted 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. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$29.71.

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.