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

Wesdome Gold Mines Ltd. (TSE:WDO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$16.25 and last traded at C$15.93, with a volume of 261105 shares trading hands. The stock had previously closed at C$16.02.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Desjardins boosted their price target on shares of Wesdome Gold Mines from C$17.50 to C$18.00 and gave the stock a “buy” rating in a research note on Thursday. TD Securities upgraded shares of Wesdome Gold Mines to a “hold” rating in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$15.63.

Wesdome Gold Mines Trading Down 2.0 %

The company has a market capitalization of C$2.40 billion, a price-to-earnings ratio of 29.49 and a beta of 0.85. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is C$14.44 and its two-hundred day simple moving average is C$13.29.

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.