Wesdome Gold Mines (TSE:WDO) Insider Purchases C$150,937.50 in Stock

Wesdome Gold Mines Ltd. (TSE:WDO) insider Philip Chow Yee purchased 6,250 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were acquired at an average cost of C$24.15 per share, for a total transaction of C$150,937.50. Following the completion of the purchase, the insider directly owned 12,500 shares of the company’s stock, valued at approximately C$301,875. This represents a 100.00% increase in their position.

Wesdome Gold Mines Trading Up 8.1%

Shares of WDO opened at C$28.26 on Friday. The firm has a market cap of C$4.19 billion, a price-to-earnings ratio of 10.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 6.03. Wesdome Gold Mines Ltd. has a fifty-two week low of C$15.94 and a fifty-two week high of C$30.98. The firm has a 50 day moving average price of C$26.22 and a 200-day moving average price of C$25.20.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Tuesday, May 12th. The company reported C$0.79 EPS for the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. The company had revenue of C$299.79 million for the quarter. As a group, equities research analysts forecast that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Wall Street Analyst Weigh In

WDO has been the topic of a number of recent research reports. Desjardins raised their price objective on Wesdome Gold Mines from C$32.00 to C$34.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Stifel Nicolaus raised Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th. Canaccord Genuity Group upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and increased their target price for the company from C$30.00 to C$31.00 in a report on Monday, June 1st. Finally, National Bank Financial upgraded Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$34.00 to C$37.00 in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wesdome Gold Mines currently has a consensus rating of “Buy” and a consensus price target of C$30.86.

About Wesdome Gold Mines

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.