Wesdome Gold Mines (TSE:WDO) Sets New 52-Week High at $9.35

Shares of Wesdome Gold Mines Ltd (TSE:WDO) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$9.35 and last traded at C$9.31, with a volume of 277329 shares changing hands. The stock had previously closed at C$8.99.

Several research firms have commented on WDO. BMO Capital Markets increased their target price on shares of Wesdome Gold Mines from C$8.00 to C$9.00 in a research report on Wednesday, September 11th. Echelon Wealth Partners upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Eight Capital boosted their price target on Wesdome Gold Mines from C$6.25 to C$7.50 in a research report on Thursday, August 8th. Finally, National Bank Financial upped their price target on Wesdome Gold Mines from C$9.00 to C$9.50 in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Wesdome Gold Mines currently has an average rating of “Buy” and an average price target of C$7.05.

The company has a market cap of $1.25 billion and a price-to-earnings ratio of 39.78. The company has a debt-to-equity ratio of 6.50, a current ratio of 1.89 and a quick ratio of 1.34. The firm has a fifty day simple moving average of C$7.86 and a 200 day simple moving average of C$6.48.

In other news, Senior Officer Heather Anne Laxton acquired 22,870 shares of Wesdome Gold Mines stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of C$1.96 per share, for a total transaction of C$44,825.20. Following the completion of the purchase, the insider now owns 28,972 shares of the company’s stock, valued at C$56,785.12.

About Wesdome Gold Mines (TSE:WDO)

Wesdome Gold Mines Ltd. explores for, extracts, processes, produces, reclaims, and sells gold in Canada. It principally produces gold in the form of doré bars; and silver as a by-product. The company's principal assets include the Eagle River Mine, which consists of 3 contiguous mining leases and 442 contiguous active mining claims covering an area of 7,958 hectares; the Mishi Mine that consists of 19 patented mining claims, 5 mining leases, and 5 staked claims covering an area of 3,055 hectares; and the Eagle River Mill located near Wawa, Ontario.

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