Wesdome Gold Mines (TSE:WDO) Reaches New 1-Year High – What’s Next?

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$17.17 and last traded at C$16.77, with a volume of 54119 shares trading hands. The stock had previously closed at C$16.84.

Wall Street Analyst Weigh In

WDO has been the subject of several research analyst reports. Desjardins upped their price target on shares of Wesdome Gold Mines from C$17.50 to C$18.00 and gave the company a “buy” rating in a report on Thursday, March 20th. National Bankshares boosted their price objective on shares of Wesdome Gold Mines from C$19.75 to C$22.00 and gave the company an “outperform” rating in a research report on Wednesday, March 26th. Finally, TD Securities raised Wesdome Gold Mines to a “hold” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$16.19.

Wesdome Gold Mines Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37. The stock has a market cap of C$2.57 billion, a P/E ratio of 31.54 and a beta of 0.85. The stock has a 50-day simple moving average of C$14.81 and a 200-day simple moving average of C$13.46.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.