Wesdome Gold Mines (TSE:WDO) Issues Earnings Results

Wesdome Gold Mines (TSE:WDO) announced its earnings results on Thursday. The company reported C$0.65 earnings per share for the quarter, FiscalAI reports. Wesdome Gold Mines had a return on equity of 46.09% and a net margin of 39.54%.The company had revenue of C$266.76 million for the quarter.

Wesdome Gold Mines Price Performance

Shares of TSE WDO opened at C$32.54 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.03 and a quick ratio of 0.37. Wesdome Gold Mines has a 1-year low of C$15.94 and a 1-year high of C$35.35. The company has a market capitalization of C$4.83 billion, a price-to-earnings ratio of 12.14 and a beta of 1.33. The business has a 50-day moving average of C$26.84 and a 200-day moving average of C$25.98.

Insider Buying and Selling

In other news, insider Rajbir Gill bought 1,047 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of C$24.02 per share, for a total transaction of C$25,148.94. Following the completion of the purchase, the insider owned 24,669 shares of the company’s stock, valued at C$592,549.38. This trade represents a 4.43% increase in their ownership of the stock. Also, insider Robert Kallio sold 4,341 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of C$24.11, for a total transaction of C$104,661.51. Following the sale, the insider directly owned 4,029 shares of the company’s stock, valued at approximately C$97,139.19. The trade was a 51.86% decrease in their ownership of the stock. Over the last quarter, insiders sold 17,433 shares of company stock valued at $423,454. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

WDO has been the topic of a number of analyst reports. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th. National Bank Financial upgraded shares of Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$34.00 to C$37.00 in a research report on Friday, July 3rd. Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their price target for the stock from C$30.00 to C$31.00 in a report on Monday, June 1st. Desjardins boosted their target price on 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, Canadian Imperial Bank of Commerce raised Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and lifted their price target for the stock from C$31.00 to C$32.00 in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$31.57.

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.