Wesdome Gold Mines (TSE:WDO) Reaches New 1-Year High – Still a Buy?

Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$31.16 and last traded at C$30.97, with a volume of 360127 shares traded. The stock had previously closed at C$28.28.

Wall Street Analysts Forecast Growth

WDO has been the topic of a number of analyst reports. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their target price for the company from C$30.00 to C$31.00 in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce raised Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and raised their price target for the stock from C$31.00 to C$32.00 in a research note on Friday, July 17th. National Bank Financial upgraded Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$34.00 to C$37.00 in a report on Friday, July 3rd. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. Finally, Desjardins upped their price objective on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$31.57.

Wesdome Gold Mines Stock Up 8.2%

The firm has a market capitalization of C$4.54 billion, a P/E ratio of 11.42 and a beta of 1.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 6.03. The business’s fifty day moving average price is C$25.82 and its two-hundred day moving average price is C$25.59.

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

Insider Activity

In other Wesdome Gold Mines news, Director Anthea Ingrid Bath sold 7,315 shares of Wesdome Gold Mines stock in a transaction on Monday, June 29th. The shares were sold at an average price of C$24.63, for a total value of C$180,168.45. Following the transaction, the director directly owned 45,753 shares of the company’s stock, valued at approximately C$1,126,896.39. The trade was a 13.78% decrease in their ownership of the stock. Also, insider Robert Kallio sold 3,348 shares of Wesdome Gold Mines stock in a transaction on 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 transaction, the insider directly 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 have sold 17,433 shares of company stock valued at $423,454 in the last ninety days. 0.17% of the stock is currently owned by 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.