Wesdome Gold Mines (TSE:WDO) Hits New 12-Month High – Here’s Why

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$15.12 and last traded at C$14.88, with a volume of 378860 shares. The stock had previously closed at C$14.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WDO. TD Securities raised shares of Wesdome Gold Mines to a “hold” rating in a research note on Tuesday, February 4th. Desjardins raised Wesdome Gold Mines to a “hold” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$15.29.

Wesdome Gold Mines Stock Performance

The business’s fifty day simple moving average is C$13.53 and its 200-day simple moving average is C$12.99. The firm has a market cap of C$2.20 billion, a P/E ratio of 56.58 and a beta of 0.85. The company has a current ratio of 1.49, a quick ratio of 0.37 and a debt-to-equity ratio of 0.44.

Insider Transactions at Wesdome Gold Mines

In related news, Director Anthea Ingrid Bath acquired 4,250 shares of Wesdome Gold Mines stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of C$11.83 per share, with a total value of C$50,277.50. Also, Senior Officer Rajbir Gill acquired 2,213 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was bought at an average price of C$11.65 per share, with a total value of C$25,781.45. 0.17% of the stock is currently owned by company insiders.

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.