Wesdome Gold Mines (TSE:WDO) Sets New 1-Year High – Time to Buy?

Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at C$35.16.

Analyst Upgrades and Downgrades

WDO has been the subject of several recent research reports. National Bank Financial lifted their price target on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Desjardins lifted their target price on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. Canadian Imperial Bank of Commerce raised their price target on Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. Finally, BMO Capital Markets lowered shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and lifted their price objective for the stock from C$30.00 to C$34.00 in a research note on Wednesday, August 19th. One investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$33.38.

Wesdome Gold Mines Stock Performance

The company has a market capitalization of C$4.91 billion, a PE ratio of 12.35 and a beta of 1.32. The firm’s 50-day simple moving average is C$33.30 and its 200-day simple moving average is C$28.59. The company has a current ratio of 6.90, a quick ratio of 0.37 and a debt-to-equity ratio of 0.73.

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, research analysts predict that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Wesdome Gold Mines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a $0.0306 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 15th.

Insiders Place Their Bets

In related news, Director Anthea Ingrid Bath sold 66,961 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total value of C$2,085,835.15. Following the sale, the director owned 130,128 shares in the company, valued at C$4,053,487.20. This represents a 33.98% decrease in their ownership of the stock. 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.