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

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

Several research analysts have recently commented on WDO shares. Stifel Nicolaus lowered shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and set a C$34.00 price target for the company. in a report on Monday, October 19th. Canaccord Genuity Group cut shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$30.00 to C$33.00 in a report on Friday, October 23rd. National Bank Financial increased their price objective on shares of Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating 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 report on Thursday, October 22nd. Finally, Canadian Imperial Bank of Commerce boosted their price objective on Wesdome Gold Mines from C$32.00 to C$35.00 in a research note on Friday, August 21st.

Wesdome Gold Mines Stock Performance

TSE:WDO opened at C$28.46 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90. Wesdome Gold Mines has a 52-week low of C$19.48 and a 52-week high of C$37.22. The firm has a market cap of C$4.09 billion, a price-to-earnings ratio of 10.27 and a beta of 1.29. The business’s fifty day moving average is C$32.32 and its 200 day moving average is C$27.93.

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

Wesdome Gold Mines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.0306 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.12 annualized dividend and a yield of 0.4%.

Insider Activity

In related news, Director Anthea Ingrid Bath sold 66,961 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$31.15, for a total value of C$2,085,835.15. Following the transaction, the director owned 130,128 shares of the company’s stock, valued at approximately C$4,053,487.20. This trade represents a 33.98% decrease in their ownership of the stock. Insiders own 0.17% of the company’s stock.

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.