Wesdome Gold Mines (TSE:WDO) Stock Rating Upgraded by National Bank Financial

Wesdome Gold Mines (TSE:WDO) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a C$37.00 target price on the stock, up from their prior target price of C$34.00. National Bank Financial’s price objective would suggest a potential upside of 32.14% from the company’s current price.

WDO has been the topic of several other reports. 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 report on Monday, June 1st. Desjardins lifted their target price on shares of Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus upgraded shares of Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$30.86.

Wesdome Gold Mines Price Performance

Shares of TSE:WDO traded up C$1.86 during trading on Friday, hitting C$28.00. 241,751 shares of the company were exchanged, compared to its average volume of 862,082. The business’s 50 day moving average is C$26.22 and its 200-day moving average is C$25.18. The company has a market capitalization of C$4.15 billion, a P/E ratio of 10.45 and a beta of 1.17. The company has a quick ratio of 0.37, a current ratio of 6.03 and a debt-to-equity ratio of 0.31. Wesdome Gold Mines has a 1-year low of C$15.94 and a 1-year high of C$30.98.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.79 earnings per share for the quarter. Wesdome Gold Mines had a return on equity of 46.09% and a net margin of 39.54%.The company had revenue of C$299.79 million for the quarter. Equities analysts forecast that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Insider Activity

In other news, insider Philip Chow Yee purchased 6,250 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average price of C$24.15 per share, with a total value of C$150,937.50. Following the completion of the transaction, the insider owned 12,500 shares of the company’s stock, valued at C$301,875. The trade was a 100.00% increase in their position. Also, Director Anthea Ingrid Bath sold 7,315 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of C$24.63, for a total value of C$180,168.45. Following the sale, the director owned 45,753 shares of the company’s stock, valued at approximately C$1,126,896.39. The trade was a 13.78% decrease in their ownership of the stock. Insiders have sold 17,433 shares of company stock worth $423,454 in the last three months. Corporate 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.