Wesdome Gold Mines (TSE:WDO) Price Target Raised to C$40.00 at Desjardins

Wesdome Gold Mines (TSE:WDO) had its target price boosted by stock analysts at Desjardins from C$34.00 to C$40.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target points to a potential upside of 22.62% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$30.00 to C$31.00 in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce upgraded shares of Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and boosted their price objective for the company from C$31.00 to C$32.00 in a report on Friday, July 17th. BMO Capital Markets cut shares of Wesdome Gold Mines from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$30.00 to C$34.00 in a research report on Wednesday. Finally, National Bank Financial lifted their price target on shares of Wesdome Gold Mines from C$34.50 to C$40.00 in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$33.00.

Wesdome Gold Mines Trading Up 5.5%

TSE:WDO traded up C$1.71 on Wednesday, hitting C$32.62. The stock had a trading volume of 387,521 shares, compared to its average volume of 804,688. The company has a fifty day moving average price of C$27.11 and a two-hundred day moving average price of C$26.08. Wesdome Gold Mines has a 1-year low of C$15.99 and a 1-year high of C$35.35. 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$4.68 billion, a price-to-earnings ratio of 11.78 and a beta of 1.33.

Wesdome Gold Mines (TSE:WDO) last released its quarterly 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 firm had revenue of C$266.76 million for the quarter. Equities research analysts expect that Wesdome Gold Mines will post 1.293456 earnings per share for the current fiscal year.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, Director Anthea Ingrid Bath sold 7,315 shares of Wesdome Gold Mines stock in a transaction dated Monday, June 29th. The stock was sold at an average price of C$24.63, for a total value of C$180,168.45. Following the completion of the transaction, the director directly owned 45,753 shares of the company’s stock, valued at C$1,126,896.39. The trade was a 13.78% decrease in their position. Also, insider Robert Kallio sold 4,341 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of C$24.11, for a total transaction of C$104,661.51. Following the sale, the insider owned 4,029 shares in the company, valued at C$97,139.19. This trade represents a 51.86% decrease in their ownership of the stock. Insiders sold a total of 17,433 shares of company stock worth $423,454 in the last 90 days. 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.