Wesdome Gold Mines Ltd. (TSE:WDO) Stock Has Consensus Target Price of C$34.50

Wesdome Gold Mines Ltd. (TSE:WDO) has earned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$34.50.

A number of brokerages have recently issued reports on WDO. BMO Capital Markets cut shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and boosted their target price for the company from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Desjardins lowered their price target on shares of Wesdome Gold Mines from C$42.00 to C$41.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Canadian Imperial Bank of Commerce lifted their price objective on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a research note on Friday, August 21st. Canaccord Genuity Group downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$30.00 to C$33.00 in a report on Friday, October 23rd. Finally, Stifel Nicolaus downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and set a C$34.00 price objective for the company. in a report on Monday, October 19th.

Insider Buying and Selling

In other news, Director Anthea Ingrid Bath sold 66,961 shares of the 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 sale, the director directly owned 130,128 shares of the company’s stock, valued at approximately C$4,053,487.20. This represents a 33.98% decrease in their position. 0.17% of the stock is currently owned by company insiders.

Wesdome Gold Mines Trading Up 8.9%

Shares of WDO stock opened at C$27.76 on Monday. The firm has a 50 day moving average price of C$32.59 and a two-hundred day moving average price of C$27.91. The company has a quick ratio of 0.37, a current ratio of 6.90 and a debt-to-equity ratio of 0.73. The company has a market capitalization of C$3.98 billion, a PE ratio of 10.02 and a beta of 1.32. Wesdome Gold Mines has a 12-month low of C$19.48 and a 12-month high of C$37.22.

Wesdome Gold Mines (TSE:WDO) last issued its quarterly earnings data on Thursday, November 5th. The company reported C$0.62 EPS for the quarter. The firm had revenue of C$250.59 million for the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%. As a group, analysts predict that Wesdome Gold Mines will post 1.29 earnings per share for the current year.

Wesdome Gold Mines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a dividend of $0.0306 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%.

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.