Wesdome Gold Mines Ltd. (TSE:WDO) Stock Has Average Target Price of C$34.50

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$34.50.

WDO has been the topic of several research reports. Canaccord Genuity Group downgraded Wesdome Gold Mines from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$30.00 to C$33.00 in a report on Friday, October 23rd. BMO Capital Markets cut Wesdome Gold Mines from an “outperform” rating to a “hold” rating and lifted their target price for the company from C$30.00 to C$34.00 in a research note on Wednesday, August 19th. Canadian Imperial Bank of Commerce boosted their target price on Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. National Bank Financial upped their price target on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Finally, Desjardins decreased their price target on Wesdome Gold Mines from C$42.00 to C$41.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, Director Anthea Ingrid Bath sold 66,961 shares of the company’s stock in a transaction dated 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 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 position. Insiders own 0.17% of the company’s stock.

Wesdome Gold Mines Stock Performance

Shares of TSE WDO opened at C$28.46 on Monday. Wesdome Gold Mines has a 1-year low of C$19.48 and a 1-year high of C$37.22. The company has a market cap of C$4.09 billion, a PE ratio of 10.09 and a beta of 1.29. The company has a current ratio of 7.23, a quick ratio of 0.37 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average of C$32.32 and a two-hundred day moving average of C$27.93.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings results on Thursday, November 5th. The company reported C$0.62 EPS for the quarter. Wesdome Gold Mines had a net margin of 38.01% and a return on equity of 41.49%. The business had revenue of C$250.59 million for the quarter. As a group, equities analysts expect that Wesdome Gold Mines will post 1.29 earnings per share for the current fiscal year.

Wesdome Gold Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.0306 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Wesdome Gold Mines’s payout ratio is currently 1.09%.

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.