Wesdome Gold Mines Ltd. (TSE:WDO) Given Average Rating of “Buy” by Analysts

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) have received an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is C$33.38.

A number of brokerages have commented on WDO. BMO Capital Markets cut shares of 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, August 19th. Stifel Nicolaus raised 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 boosted their price objective for the company from C$30.00 to C$31.00 in a research note on Monday, June 1st. National Bank Financial upped 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 report on Wednesday, August 19th. Finally, Canadian Imperial Bank of Commerce raised their target price on Wesdome Gold Mines from C$32.00 to C$35.00 in a research note on Friday, August 21st.

Insiders Place Their Bets

In other news, Director Anthea Ingrid Bath sold 66,961 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 130,128 shares of the company’s stock, valued at C$4,053,487.20. This trade represents a 33.98% decrease in their position. Also, insider Robert Kallio sold 4,341 shares of Wesdome Gold Mines stock in a transaction on Monday, June 29th. The shares were sold at an average price of C$24.11, for a total transaction of C$104,661.51. Following the completion of the sale, the insider owned 4,029 shares of the company’s stock, valued at C$97,139.19. This represents a 51.86% decrease in their position. Insiders have sold a total of 84,394 shares of company stock valued at $2,509,289 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Wesdome Gold Mines Stock Up 2.5%

Wesdome Gold Mines stock opened at C$35.63 on Friday. The firm has a market cap of C$5.11 billion, a price-to-earnings ratio of 12.86 and a beta of 1.65. Wesdome Gold Mines has a 52-week low of C$18.39 and a 52-week high of C$36.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.37 and a current ratio of 6.90. The firm has a 50 day moving average price of C$31.12 and a two-hundred day moving average price of C$27.73.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings data 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 company had revenue of C$266.76 million for the quarter. Equities analysts predict that Wesdome Gold Mines will post 1.293456 EPS for the current year.

Wesdome Gold Mines Announces Dividend

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

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.