Wesdome Gold Mines (TSE:WDO) Hits New 1-Year High – Here’s What Happened

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price 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 traded. The stock had previously closed at C$29.31.

Wall Street Analysts Forecast Growth

WDO has been the topic of a number of recent analyst reports. Desjardins boosted their target price on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. TD Securities lifted their price target on Wesdome Gold Mines from C$25.00 to C$30.00 in a research note on Thursday, January 22nd. Canaccord Genuity Group cut Wesdome Gold Mines from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. Finally, National Bank Financial boosted their price target on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Wesdome Gold Mines presently has an average rating of “Hold” and a consensus target price of C$29.71.

Wesdome Gold Mines Stock Down 1.6%

The stock has a 50-day moving average of C$25.62 and a 200 day moving average of C$23.89. The company has a market capitalization of C$4.28 billion, a PE ratio of 12.49 and a beta of 1.29. 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 announced its quarterly earnings data on Wednesday, March 11th. The company reported C$0.78 earnings per share (EPS) for the quarter. The firm had revenue of C$287.88 million during the quarter. Wesdome Gold Mines had a return on equity of 44.53% and a net margin of 38.22%. Sell-side analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current year.

Insider Activity at Wesdome Gold Mines

In other news, insider Rajbir Gill sold 1,829 shares of the stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$41,810.94. Following the completion of the transaction, the insider directly owned 23,622 shares of the company’s stock, valued at C$539,998.92. This represents a 7.19% decrease in their position. Also, insider Kevin Lonergan sold 1,219 shares of Wesdome Gold Mines stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total transaction 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. This trade represents a 34.38% decrease in their position. Insiders have sold 11,425 shares of company stock valued at $261,176 in the last three months. Insiders own 0.17% of the company’s stock.

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.