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

Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$36.86 and last traded at C$36.67, with a volume of 176271 shares trading hands. The stock had previously closed at C$35.16.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WDO shares. Canaccord Genuity Group upgraded shares of 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 report on Monday, June 1st. Canadian Imperial Bank of Commerce increased their price objective on Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. Desjardins boosted their price target 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, August 19th. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. Finally, National Bank Financial boosted their target price on shares of Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$33.38.

Wesdome Gold Mines Price Performance

The firm has a market cap of C$5.28 billion, a P/E ratio of 13.27 and a beta of 1.65. The company has a current ratio of 6.90, a quick ratio of 0.37 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average of C$31.30 and a two-hundred day moving average of C$27.80.

Wesdome Gold Mines (TSE:WDO) last posted its earnings results on Thursday, August 13th. The company reported C$0.65 EPS for the quarter. The business had revenue of C$266.76 million for the quarter. Wesdome Gold Mines had a net margin of 38.46% and a return on equity of 43.77%. On average, sell-side analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current fiscal year.

Wesdome Gold Mines Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th will be given a $0.0306 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%.

Insider Activity

In other news, insider Rajbir Gill acquired 1,047 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of C$24.02 per share, for a total transaction of C$25,148.94. Following the completion of the transaction, the insider directly owned 24,669 shares in the company, valued at C$592,549.38. This represents a 4.43% increase in their position. Also, insider Philip Chow Yee bought 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was purchased at an average price of C$24.15 per share, for a total transaction of C$150,937.50. Following the acquisition, the insider owned 12,500 shares of the company’s stock, valued at C$301,875. This trade represents a 100.00% increase in their ownership of the stock. In the last 90 days, insiders sold 84,394 shares of company stock valued at $2,509,289. Company insiders own 0.17% of the company’s stock.

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.