Insider Buying: Wesdome Gold Mines (TSE:WDO) Insider Purchases C$25,148.94 in Stock

by · The Markets Daily

Wesdome Gold Mines Ltd. (TSE:WDO – Get Free Report) insider Rajbir Gill bought 1,047 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average cost of C$24.02 per share, for a total transaction of C$25,148.94. Following the transaction, the insider owned 24,669 shares of the company’s stock, valued at C$592,549.38. The trade was a 4.43% increase in their ownership of the stock.

Wesdome Gold Mines Stock Up 6.6%

Wesdome Gold Mines stock traded up C$1.60 during trading on Thursday, hitting C$25.95. 621,984 shares of the company were exchanged, compared to its average volume of 862,546. The company has a current ratio of 6.03, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The company has a market capitalization of C$3.85 billion, a P/E ratio of 9.68 and a beta of 1.17. The business’s 50 day moving average is C$26.25 and its 200 day moving average is C$25.15. Wesdome Gold Mines Ltd. has a 52 week low of C$15.94 and a 52 week high of C$30.98.

Wesdome Gold Mines (TSE:WDO – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported C$0.79 earnings per share (EPS) for the quarter. The business had revenue of C$299.79 million during the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. Analysts predict that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WDO shares. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and increased their price target for the company from C$30.00 to C$31.00 in a research report on Monday, June 1st. Desjardins boosted their target price on shares of 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. Finally, National Bank Financial increased their target price on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a research report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Wesdome Gold Mines presently has an average rating of “Moderate Buy” and an average price target of C$30.14.

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About Wesdome Gold Mines

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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.

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