Wesdome Gold Mines (TSE:WDO) Price Target Raised to C$35.00

Wesdome Gold Mines (TSE:WDO) had its target price hoisted by Canadian Imperial Bank of Commerce from C$32.00 to C$35.00 in a report released on Friday,BayStreet.CA reports.

WDO has been the subject of a number of other reports. BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “hold” rating and increased their target price for the stock from C$30.00 to C$34.00 in a research note on Wednesday, August 19th. National Bank Financial raised their target price on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Stifel Nicolaus raised shares of Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th. Desjardins raised their price objective on shares of Wesdome Gold Mines from C$34.00 to C$40.00 and gave the company a “buy” rating in a research note on Wednesday, August 19th. Finally, Canaccord Genuity Group raised shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$30.00 to C$31.00 in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Wesdome Gold Mines presently has a consensus rating of “Buy” and a consensus target price of C$33.38.

Wesdome Gold Mines Price Performance

WDO stock opened at C$34.97 on Friday. The company has a quick ratio of 0.37, a current ratio of 6.90 and a debt-to-equity ratio of 0.73. The stock has a market cap of C$5.02 billion, a price-to-earnings ratio of 12.62 and a beta of 1.33. The business has a fifty day moving average of C$27.70 and a two-hundred day moving average of C$26.32. Wesdome Gold Mines has a 52-week low of C$16.53 and a 52-week high of C$35.35.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Thursday, August 13th. The company reported C$0.65 EPS for the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. The company had revenue of C$266.76 million during the quarter. As a group, research analysts anticipate that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Insider Buying and Selling

In other Wesdome Gold Mines news, insider Robert Kallio sold 3,348 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of C$23.89, for a total transaction of C$79,983.72. Following the sale, the insider directly owned 2,000 shares of the company’s stock, valued at C$47,780. This trade represents a 62.60% decrease in their position. Also, insider Philip Chow Yee purchased 6,250 shares of the stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of C$24.15 per share, with a total value of C$150,937.50. Following the completion of the acquisition, the insider owned 12,500 shares of the company’s stock, valued at approximately C$301,875. This represents a 100.00% increase in their ownership of the stock. Insiders sold 84,394 shares of company stock worth $2,509,289 in the last ninety days. 0.17% of the stock is currently owned by insiders.

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.