Insider Buying: Wesdome Gold Mines (TSE:WDO) Insider Purchases 6,250 Shares

Wesdome Gold Mines Ltd. (TSE:WDO) insider Philip Chow Yee purchased 6,250 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of C$24.15 per share, for a total transaction of C$150,937.50. Following the completion of the transaction, the insider owned 12,500 shares of the company’s stock, valued at C$301,875. This represents a 100.00% increase in their position.

Wesdome Gold Mines Trading Up 6.6%

Shares of TSE WDO traded up C$1.60 during mid-day trading on Thursday, hitting C$25.95. 621,984 shares of the company traded hands, compared to its average volume of 862,546. The company has a quick ratio of 0.37, a current ratio of 6.03 and a debt-to-equity ratio of 0.31. Wesdome Gold Mines Ltd. has a 1 year low of C$15.94 and a 1 year high of C$30.98. The stock has a market capitalization of C$3.85 billion, a price-to-earnings ratio of 9.68 and a beta of 1.17. The business has a 50 day moving average of C$26.25 and a two-hundred day moving average of C$25.15.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on WDO shares. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their price target for the company from C$30.00 to C$31.00 in a research report on Monday, June 1st. Desjardins lifted their target price on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, National Bank Financial upped their target price on Wesdome Gold Mines from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a report on Friday, March 13th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$30.14.

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.