Wesdome Gold Mines (TSE:WDO) Hits New 52-Week High – Still a Buy?

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) reached a new 52-week high during trading on Tuesday . The company traded as high as C$29.69 and last traded at C$29.57, with a volume of 15479 shares trading hands. The stock had previously closed at C$29.31.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Desjardins upped their price objective on shares of 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. National Bank Financial raised their price objective on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a research report on Friday, March 13th. Canaccord Genuity Group lowered shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and upped their target price for the stock from C$27.00 to C$28.00 in a research report on Monday, January 26th. Finally, TD Securities raised their price target on Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wesdome Gold Mines presently has a consensus rating of “Hold” and a consensus price target of C$29.71.

Wesdome Gold Mines Trading Down 1.6%

The firm has a market capitalization of C$4.28 billion, a PE ratio of 12.49 and a beta of 1.29. The firm’s 50-day simple moving average is C$25.62 and its 200-day simple moving average is C$23.89. The company has a quick ratio of 0.37, a current ratio of 5.80 and a debt-to-equity ratio of 0.36.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Wednesday, March 11th. The company reported C$0.78 earnings per share for the quarter. Wesdome Gold Mines had a return on equity of 44.53% and a net margin of 38.22%.The company had revenue of C$287.88 million during the quarter. Equities analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anthea Ingrid Bath sold 4,100 shares of the company’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$93,726.00. Following the completion of the sale, the director directly owned 40,456 shares in the company, valued at C$924,824.16. This represents a 9.20% decrease in their position. Also, insider Kevin Lonergan sold 1,219 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total value of C$27,866.34. Following the completion of the sale, the insider directly owned 2,327 shares in the company, valued at C$53,195.22. The trade was a 34.38% decrease in their ownership of the stock. In the last three months, insiders sold 11,425 shares of company stock worth $261,176. 0.17% of the stock is 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.