Wesdome Gold Mines Ltd. (TSE:WDO) Given Average Rating of “Buy” by Brokerages

Wesdome Gold Mines Ltd. (TSE:WDO) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$33.38.

A number of equities research analysts have recently commented on WDO shares. BMO Capital Markets lowered Wesdome Gold Mines from an “outperform” rating to a “hold” rating and raised their price target for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Desjardins increased their target price on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. National Bank Financial increased their target price on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. Canadian Imperial Bank of Commerce raised their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a report on Friday, August 21st. Finally, Stifel Nicolaus raised shares of Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th.

Insider Activity at Wesdome Gold Mines

In related news, insider Philip Chow Yee acquired 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average cost of C$24.15 per share, with a total value of C$150,937.50. Following the transaction, the insider owned 12,500 shares of the company’s stock, valued at C$301,875. The trade was a 100.00% increase in their position. Also, Director Anthea Ingrid Bath sold 66,961 shares of the company’s 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 directly owned 130,128 shares of the company’s stock, valued at approximately C$4,053,487.20. The trade was a 33.98% decrease in their ownership of the stock. In the last ninety days, insiders have sold 84,394 shares of company stock valued at $2,509,289. Insiders own 0.17% of the company’s stock.

Wesdome Gold Mines Stock Performance

Shares of Wesdome Gold Mines stock opened at C$35.06 on Friday. The stock’s fifty day simple moving average is C$30.36 and its 200 day simple moving average is C$27.46. The company has a current ratio of 6.90, a quick ratio of 0.37 and a debt-to-equity ratio of 0.73. The company has a market capitalization of C$5.03 billion, a PE ratio of 12.66 and a beta of 1.65. Wesdome Gold Mines has a 12 month low of C$18.08 and a 12 month high of C$36.47.

Wesdome Gold Mines (TSE:WDO) last posted its earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%.The firm had revenue of C$266.76 million during the quarter. On average, research analysts predict that Wesdome Gold Mines will post 1.293456 EPS for the current year.

Wesdome Gold Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.0306 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 15th.

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.