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

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price reached a new 52-week high on Tuesday . The company traded as high as C$25.77 and last traded at C$25.50, with a volume of 786148 shares trading hands. The stock had previously closed at C$24.59.

Analyst Ratings Changes

A number of equities research analysts have commented on WDO shares. Royal Bank Of Canada raised their target price on Wesdome Gold Mines from C$25.00 to C$29.00 in a report on Wednesday, December 10th. Stifel Nicolaus upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and raised their price objective for the company from C$20.50 to C$28.00 in a research note on Monday, October 20th. CIBC boosted their price objective on shares of Wesdome Gold Mines from C$24.00 to C$27.00 in a report on Friday, October 10th. Stifel Canada raised shares of Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, Canaccord Genuity Group boosted their price target on Wesdome Gold Mines from C$21.50 to C$22.50 in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$25.42.

Wesdome Gold Mines Trading Up 3.7%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14. The business has a fifty day simple moving average of C$22.29 and a 200 day simple moving average of C$20.29. The stock has a market cap of C$3.85 billion, a price-to-earnings ratio of 13.35 and a beta of 0.48.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$0.58 earnings per share for the quarter. The company had revenue of C$230.28 million during the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%. As a group, equities analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current year.

About Wesdome Gold Mines

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.