Wesdome Gold Mines (TSE:WDO) Stock Price Expected to Rise, National Bank Financial Analyst Says

Wesdome Gold Mines (TSE:WDO) had its price target increased by investment analysts at National Bank Financial from C$34.50 to C$40.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. National Bank Financial’s price target would suggest a potential upside of 22.62% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a report on Monday, June 29th. Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and raised their target price for the company from C$30.00 to C$31.00 in a research note on Monday, June 1st. Desjardins lifted their price target on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce raised Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and upped their price target for the stock from C$31.00 to C$32.00 in a research note on Friday, July 17th. Finally, BMO Capital Markets lowered Wesdome Gold Mines from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$30.00 to C$34.00 in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$33.00.

Wesdome Gold Mines Trading Up 5.5%

Shares of TSE WDO traded up C$1.71 during midday trading on Wednesday, hitting C$32.62. 387,521 shares of the company traded hands, compared to its average volume of 804,688. Wesdome Gold Mines has a 12-month low of C$15.99 and a 12-month high of C$35.35. 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 stock has a 50-day moving average price of C$27.11 and a 200 day moving average price of C$26.08. The firm has a market cap of C$4.68 billion, a P/E ratio of 11.78 and a beta of 1.33.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share (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 during the quarter. As a group, analysts expect that Wesdome Gold Mines will post 1.293456 earnings per share for the current year.

Insider Buying and Selling at Wesdome Gold Mines

In other news, insider Robert Kallio sold 4,341 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of C$24.11, for a total value of C$104,661.51. Following the sale, the insider directly owned 4,029 shares of the company’s stock, valued at C$97,139.19. The trade was a 51.86% decrease in their position. Also, Director Anthea Ingrid Bath sold 7,315 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director owned 45,753 shares in the company, valued at C$1,126,896.39. The trade was a 13.78% decrease in their position. Insiders sold a total of 17,433 shares of company stock worth $423,454 over the last three months. 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.