Key Points
- Insider buying: Philip Chow Yee bought 6,250 shares of Wesdome Gold Mines at C$24.15 each, a transaction worth C$150,937.50. His direct ownership doubled to 12,500 shares after the purchase.
- Stock and financial snapshot: Wesdome opened at C$26.14 and has a market cap of C$3.88 billion, with a P/E ratio of 9.75. The company reported strong quarterly results, including C$0.79 EPS and C$299.79 million in revenue.
- Analyst sentiment improved: Several firms raised their price targets and ratings, including Canaccord Genuity and Stifel Nicolaus. The stock now carries a consensus “Moderate Buy” rating with an average target price of C$30.14.
Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) insider Rajbir Gill bought 1,047 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were purchased at an average cost of C$24.02 per share, with a total value of C$25,148.94. Following the purchase, the insider directly owned 24,669 shares of the company's stock, valued at approximately C$592,549.38. This represents a 4.43% increase in their ownership of the stock.
Wesdome Gold Mines Price Performance
TSE:WDO opened at C$26.14 on Friday. The business's 50-day moving average price is C$26.22 and its 200 day moving average price is C$25.18. The firm has a market cap of C$3.88 billion, a P/E ratio of 9.75 and a beta of 1.17. Wesdome Gold Mines Ltd. has a 52-week low of C$15.94 and a 52-week high of C$30.98. 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 (TSE:WDO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.79 EPS for the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. The firm had revenue of C$299.79 million for the quarter. As a group, sell-side analysts predict that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms recently commented on WDO. Desjardins boosted 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 report on Thursday, April 23rd. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a "hold" rating to a "buy" rating and raised their target price for the stock from C$30.00 to C$31.00 in a report on Monday, June 1st. Stifel Nicolaus upgraded shares of Wesdome Gold Mines to a "strong-buy" rating in a research report on Monday. Finally, National Bank Financial upped their price target on Wesdome Gold Mines from C$28.00 to C$32.00 and gave the company a "sector perform" rating in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Wesdome Gold Mines presently has an average rating of "Moderate Buy" and an average target price of C$30.14.
Read Our Latest Stock Report on WDO
About Wesdome Gold Mines
(
Get Free Report)
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.
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