Wesdome Gold Mines (TSE:WDO) Price Target Raised to C$40.00

Wesdome Gold Mines (TSE:WDO) had its target price boosted by National Bank Financial from C$34.50 to C$40.00 in a research report released on Wednesday,BayStreet.CA reports. National Bank Financial currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets downgraded shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and raised their price objective for the company from C$30.00 to C$34.00 in a research report on Wednesday. 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 research report on Thursday, April 23rd. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and raised their price target for the company from C$30.00 to C$31.00 in a report on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce upgraded Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and lifted their price target for the company from C$31.00 to C$32.00 in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$33.38.

Wesdome Gold Mines Stock Up 2.3%

Shares of Wesdome Gold Mines stock opened at C$34.97 on Wednesday. The company has a market cap of C$5.02 billion, a P/E ratio of 12.62 and a beta of 1.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90. Wesdome Gold Mines has a one year low of C$16.53 and a one year high of C$35.35. The firm has a fifty day moving average of C$27.70 and a two-hundred day moving average of C$26.29.

Wesdome Gold Mines (TSE:WDO) last issued its 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%. On average, analysts forecast that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Insider Transactions at Wesdome Gold Mines

In other news, Director Anthea Ingrid Bath sold 66,961 shares of Wesdome Gold Mines stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total transaction of C$2,085,835.15. Following the completion of the transaction, the director owned 130,128 shares of the company’s stock, valued at C$4,053,487.20. The trade was a 33.98% decrease in their position. Also, insider Robert Kallio sold 3,348 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of C$23.89, for a total transaction of C$79,983.72. Following the completion of the sale, the insider owned 2,000 shares in the company, valued at C$47,780. This represents a 62.60% decrease in their ownership of the stock. Insiders sold a total of 84,394 shares of company stock worth $2,509,289 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

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.