Wesdome Gold Mines (TSE:WDO) Hits New 1-Year High – Here’s Why

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at C$14.63.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WDO. Desjardins raised Wesdome Gold Mines to a “hold” rating in a report on Thursday, October 31st. TD Securities raised shares of Wesdome Gold Mines to a “hold” rating in a report on Tuesday, February 4th. Three research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$15.29.

Wesdome Gold Mines Stock Performance

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.49 and a quick ratio of 0.37. The stock has a market capitalization of C$2.23 billion, a price-to-earnings ratio of 57.23 and a beta of 0.85. The stock has a 50-day moving average of C$13.44 and a 200 day moving average of C$12.97.

Insider Buying and Selling

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

About Wesdome Gold Mines

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.