Wesdome Gold Mines (TSE:WDO) Reaches New 1-Year High After Analyst Upgrade

Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during mid-day trading on Wednesday after Eight Capital raised their price target on the stock from C$12.00 to C$15.00. The company traded as high as C$13.02 and last traded at C$13.02, with a volume of 25519 shares changing hands. The stock had previously closed at C$12.70.

A number of other brokerages have also recently issued reports on WDO. Ventum Cap Mkts upgraded shares of Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 28th. National Bankshares boosted their price objective on shares of Wesdome Gold Mines from C$14.25 to C$15.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Ventum Financial upgraded shares of Wesdome Gold Mines from a “neutral” rating to a “buy” rating and upped their price target for the company from C$9.65 to C$12.65 in a report on Tuesday, May 28th. CIBC upped their price target on shares of Wesdome Gold Mines from C$14.00 to C$14.50 in a report on Wednesday. Finally, Canaccord Genuity Group upped their price target on shares of Wesdome Gold Mines from C$8.50 to C$11.75 in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.70.

Wesdome Gold Mines Stock Performance

The stock’s 50-day moving average price is C$11.28 and its 200 day moving average price is C$9.92. The company has a debt-to-equity ratio of 7.15, a current ratio of 0.99 and a quick ratio of 0.37. The firm has a market cap of C$2.02 billion, a P/E ratio of 450.33 and a beta of 0.75.

Wesdome Gold Mines (TSE:WDO) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C$0.07 EPS for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.01. The business had revenue of C$100.92 million for the quarter. Wesdome Gold Mines had a net margin of 1.36% and a return on equity of 1.13%. As a group, equities analysts predict that Wesdome Gold Mines Ltd. will post 0.6333147 EPS for the current year.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada. It holds interest in the Eagle River Mine in Ontario; and the Kiena Mine in Québec. The company was formerly known as River Gold Mines Ltd. and changed its name to Wesdome Gold Mines Ltd. Wesdome Gold Mines Ltd.