Wesdome Gold Mines (TSE:WDO) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Wesdome Gold Mines (TSE:WDO) had its price objective increased by stock analysts at Canadian Imperial Bank of Commerce from C$32.00 to C$35.00 in a report released on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 0.26% from the company’s current price.

Several other equities analysts also recently commented on WDO. Desjardins upped their price objective on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. National Bank Financial boosted their target price on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a research note on Wednesday. BMO Capital Markets cut Wesdome Gold Mines from an “outperform” rating to a “hold” rating and upped their price target for the company from C$30.00 to C$34.00 in a research report on Wednesday. Finally, Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$30.00 to C$31.00 in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$33.38.

Wesdome Gold Mines Stock Performance

WDO stock traded up C$0.72 during mid-day trading on Friday, hitting C$34.91. The company had a trading volume of 310,195 shares, compared to its average volume of 802,114. The firm has a market cap of C$5.01 billion, a PE ratio of 12.60 and a beta of 1.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90. Wesdome Gold Mines has a 12 month low of C$16.53 and a 12 month high of C$35.35. The stock’s fifty day moving average price is C$27.51 and its two-hundred day moving average price is C$26.23.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share 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 during the quarter. On average, analysts forecast that Wesdome Gold Mines will post 1.293456 earnings per share for the current fiscal year.

Insider Activity

In other Wesdome Gold Mines news, insider Rajbir Gill acquired 1,047 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of C$24.02 per share, for a total transaction of C$25,148.94. Following the completion of the transaction, the insider owned 24,669 shares of the company’s stock, valued at approximately C$592,549.38. This represents a 4.43% increase in their position. Also, insider Robert Kallio sold 3,348 shares of Wesdome Gold Mines stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of C$23.89, for a total value of C$79,983.72. Following the sale, the insider owned 2,000 shares of the company’s stock, valued at approximately C$47,780. This trade represents a 62.60% decrease in their position. Over the last quarter, insiders sold 84,394 shares of company stock worth $2,509,289. 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.