Wesdome Gold Mines (TSE:WDO) Reaches New 12-Month High – Should You Buy?

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price reached a new 52-week high on Friday . The company traded as high as C$18.10 and last traded at C$17.80, with a volume of 273375 shares changing hands. The stock had previously closed at C$16.69.

Analyst Ratings Changes

WDO has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on Wesdome Gold Mines from C$17.00 to C$19.00 in a research note on Friday, April 4th. TD Securities upgraded Wesdome Gold Mines to a “hold” rating in a research report on Tuesday, February 4th. Desjardins raised their price objective on shares of Wesdome Gold Mines from C$17.50 to C$18.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. Finally, National Bankshares boosted their price objective on shares of Wesdome Gold Mines from C$19.75 to C$22.00 and gave the company an “outperform” rating in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$16.50.

Wesdome Gold Mines Stock Up 5.8 %

The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30. The stock has a market cap of C$2.68 billion, a P/E ratio of 32.94 and a beta of 0.85. The stock’s fifty day moving average price is C$15.32 and its 200 day moving average price is C$13.69.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, Senior Officer Rajbir Gill sold 7,884 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of C$16.26, for a total value of C$128,193.84. Company insiders own 0.17% of the company’s stock.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.