Desjardins Forecasts Strong Price Appreciation for Wesdome Gold Mines (TSE:WDO) Stock

Wesdome Gold Mines (TSE:WDO) had its target price hoisted by investment analysts at Desjardins from C$32.00 to C$34.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price objective suggests a potential upside of 25.32% from the company’s previous close.

WDO has been the topic of several other research reports. TD Securities raised their price objective on Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. National Bank Financial raised their price objective on Wesdome Gold Mines from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a report on Friday, March 13th. Finally, Canaccord Genuity Group cut Wesdome Gold Mines from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$29.71.

Wesdome Gold Mines Price Performance

WDO stock opened at C$27.13 on Thursday. Wesdome Gold Mines has a 52-week low of C$15.72 and a 52-week high of C$29.66. The stock’s fifty day simple moving average is C$25.47 and its 200-day simple moving average is C$23.68. The company has a quick ratio of 0.37, a current ratio of 5.80 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of C$4.03 billion, a price-to-earnings ratio of 11.74 and a beta of 1.27.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings data on Wednesday, March 11th. The company reported C$0.78 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a return on equity of 44.53% and a net margin of 38.22%.The business had revenue of C$287.88 million for the quarter. Equities research analysts expect that Wesdome Gold Mines will post 1.293456 EPS for the current year.

Insider Transactions at Wesdome Gold Mines

In related news, insider Kevin Lonergan sold 1,219 shares of Wesdome Gold Mines stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total value of C$27,866.34. Following the transaction, the insider owned 2,327 shares in the company, valued at approximately C$53,195.22. This trade represents a 34.38% decrease in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 4,100 shares of Wesdome Gold Mines stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total value of C$93,726.00. Following the completion of the transaction, the director owned 40,456 shares in the company, valued at C$924,824.16. The trade was a 9.20% decrease in their position. Insiders have sold a total of 11,425 shares of company stock worth $261,176 over the last ninety days. 0.17% of the stock is owned by insiders.

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.