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

Wesdome Gold Mines (TSE:WDO) had its target price hoisted by Desjardins from C$34.00 to C$40.00 in a research note released on Wednesday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also commented on WDO. 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 stock from C$31.00 to C$32.00 in a report on Friday, July 17th. National Bank Financial raised 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 lowered Wesdome Gold Mines from an “outperform” rating to a “hold” rating and lifted their target price for the stock from C$30.00 to C$34.00 in a research report on Wednesday. Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. Finally, Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$33.38.

Wesdome Gold Mines Trading Up 2.3%

TSE WDO opened at C$34.97 on Wednesday. The company’s fifty day simple moving average is C$27.70 and its 200-day simple moving average is C$26.29. Wesdome Gold Mines has a 52 week low of C$16.53 and a 52 week high of C$35.35. 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 stock has a market cap of C$5.02 billion, a P/E ratio of 12.62 and a beta of 1.33.

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

Insider Activity at Wesdome Gold Mines

In related news, insider Robert Kallio sold 3,348 shares of the company’s stock in a transaction on 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 directly owned 2,000 shares of the company’s stock, valued at C$47,780. This represents a 62.60% decrease in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 66,961 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$31.15, for a total transaction of C$2,085,835.15. Following the transaction, the director owned 130,128 shares in the company, valued at C$4,053,487.20. This trade represents a 33.98% decrease in their ownership of the stock. Insiders sold a total of 84,394 shares of company stock worth $2,509,289 over the last three months. 0.17% of the stock is owned by corporate insiders.

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.