Wesdome Gold Mines (TSE:WDO) Sets New 52-Week High – Should You Buy?

Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$15.12 and last traded at C$14.88, with a volume of 378860 shares trading hands. The stock had previously closed at C$14.63.

Analysts Set New Price Targets

Several brokerages have commented on WDO. Desjardins upgraded shares of Wesdome Gold Mines to a “hold” rating in a report on Thursday, October 31st. TD Securities raised shares of Wesdome Gold Mines to a “hold” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$15.29.

Wesdome Gold Mines Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.49 and a quick ratio of 0.37. The business has a 50 day simple moving average of C$13.44 and a 200 day simple moving average of C$12.97. The stock has a market cap of C$2.23 billion, a PE ratio of 57.23 and a beta of 0.85.

Insider Activity at Wesdome Gold Mines

In other news, Senior Officer Rajbir Gill acquired 2,213 shares of Wesdome Gold Mines stock in a transaction dated Monday, November 18th. The stock was acquired at an average cost of C$11.65 per share, for a total transaction of C$25,781.45. Also, Director Anthea Ingrid Bath bought 4,250 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average price of C$11.83 per share, for a total transaction of C$50,277.50. 0.17% of the stock is currently owned by company insiders.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada. It holds interest in the Eagle River Mine in Ontario; and the Kiena Mine in Québec. The company was formerly known as River Gold Mines Ltd. and changed its name to Wesdome Gold Mines Ltd. Wesdome Gold Mines Ltd.