Insider Buying: Wesdome Gold Mines (TSE:WDO) Insider Purchases C$25,148.94 in Stock

Wesdome Gold Mines Ltd. (TSE:WDO) insider Rajbir Gill purchased 1,047 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of C$24.02 per share, for a total transaction of C$25,148.94. Following the acquisition, the insider owned 24,669 shares of the company’s stock, valued at approximately C$592,549.38. The trade was a 4.43% increase in their ownership of the stock.

Wesdome Gold Mines Price Performance

Shares of WDO opened at C$28.26 on Friday. The company has a market capitalization of C$4.19 billion, a P/E ratio of 10.54 and a beta of 1.17. The company has a quick ratio of 0.37, a current ratio of 6.03 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average of C$26.22 and a 200 day moving average of C$25.20. Wesdome Gold Mines Ltd. has a twelve month low of C$15.94 and a twelve month high of C$30.98.

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

Wall Street Analyst Weigh In

WDO has been the topic of a number of research analyst reports. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. National Bank Financial upgraded Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$34.00 to C$37.00 in a report on Friday. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$30.00 to C$31.00 in a research report on Monday, June 1st. Finally, Desjardins upped their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Wesdome Gold Mines currently has an average rating of “Buy” and an average target price of C$30.86.

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.