Rajbir Gill Buys 1,047 Shares of Wesdome Gold Mines (TSE:WDO) Stock

Wesdome Gold Mines Ltd. (TSE:WDO) insider Rajbir Gill acquired 1,047 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of C$24.02 per share, with a total value of C$25,148.94. Following the transaction, the insider owned 24,669 shares in the company, valued at approximately C$592,549.38. The trade was a 4.43% increase in their ownership of the stock.

Wesdome Gold Mines Price Performance

WDO opened at C$28.26 on Friday. The firm has a market cap of C$4.19 billion, a price-to-earnings ratio of 10.54 and a beta of 1.17. Wesdome Gold Mines Ltd. has a fifty-two week low of C$15.94 and a fifty-two week high of C$30.98. The company’s 50-day moving average price is C$26.22 and its 200 day moving average price is C$25.20. The company has a quick ratio of 0.37, a current ratio of 6.03 and a debt-to-equity ratio of 0.31.

Wesdome Gold Mines (TSE:WDO) last issued its earnings results on Tuesday, May 12th. The company reported C$0.79 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. The firm had revenue of C$299.79 million for the quarter. As a group, sell-side analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on WDO. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. Desjardins increased their target price on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, National Bank Financial upgraded Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$34.00 to C$37.00 in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$30.86.

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.