Wesdome Gold Mines Ltd. (TSE:WDO) Receives Consensus Rating of “Buy” from Analysts

Wesdome Gold Mines Ltd. (TSE:WDO) has received an average recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is C$33.38.

Several equities research analysts recently commented on the company. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. Desjardins boosted their target price on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Canadian Imperial Bank of Commerce raised their price objective on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a research note on Friday, August 21st. National Bank Financial upped 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 report on Wednesday, August 19th. Finally, BMO Capital Markets downgraded shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and upped their price objective for the company from C$30.00 to C$34.00 in a research note on Wednesday, August 19th.

Wesdome Gold Mines Stock Down 2.1%

Shares of TSE WDO traded down C$0.75 during trading hours on Friday, hitting C$34.20. 129,627 shares of the stock were exchanged, compared to its average volume of 758,644. Wesdome Gold Mines has a 12 month low of C$19.48 and a 12 month high of C$37.22. The firm has a fifty day moving average price of C$33.30 and a 200-day moving average price of C$28.59. The company has a quick ratio of 0.37, a current ratio of 6.90 and a debt-to-equity ratio of 0.73. The company has a market cap of C$4.91 billion, a PE ratio of 12.35 and a beta of 1.32.

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

Wesdome Gold Mines Dividend Announcement

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

Insider Buying and Selling

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