Wesdome Gold Mines (TSE:WDO) Hits New 52-Week High – Time to Buy?

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$16.71 and last traded at C$16.61, with a volume of 61985 shares. The stock had previously closed at C$15.97.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WDO shares. National Bankshares boosted their price target on Wesdome Gold Mines from C$19.75 to C$22.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Securities raised Wesdome Gold Mines to a “hold” rating in a research report on Tuesday, February 4th. Finally, Desjardins boosted their price target on shares of Wesdome Gold Mines from C$17.50 to C$18.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wesdome Gold Mines currently has an average rating of “Moderate Buy” and an average target price of C$16.19.

Wesdome Gold Mines Stock Down 1.8 %

The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of C$14.67 and a two-hundred day simple moving average of C$13.40. The stock has a market capitalization of C$2.47 billion, a P/E ratio of 30.34 and a beta of 0.85.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.