Desjardins Reduces Earnings Estimates for Wesdome Gold Mines

Wesdome Gold Mines Ltd. (TSE:WDO) – Equities research analysts at Desjardins cut their FY2024 EPS estimates for shares of Wesdome Gold Mines in a research note issued to investors on Wednesday, November 6th. Desjardins analyst A. Carson now forecasts that the company will earn $0.77 per share for the year, down from their prior estimate of $0.79. Desjardins currently has a “Hold” rating on the stock. The consensus estimate for Wesdome Gold Mines’ current full-year earnings is $1.29 per share. Desjardins also issued estimates for Wesdome Gold Mines’ FY2025 earnings at $1.02 EPS.

A number of other research firms also recently issued reports on WDO. National Bankshares raised their price target on shares of Wesdome Gold Mines from C$17.25 to C$17.50 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their target price on Wesdome Gold Mines from C$14.00 to C$18.00 in a report on Thursday, August 15th. Eight Capital raised their price target on Wesdome Gold Mines from C$15.00 to C$16.00 in a report on Thursday, August 15th. Canaccord Genuity Group boosted their price objective on Wesdome Gold Mines from C$11.75 to C$14.00 in a research report on Tuesday, July 23rd. Finally, Ventum Financial increased their target price on Wesdome Gold Mines from C$12.05 to C$15.00 in a research report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wesdome Gold Mines has a consensus rating of “Moderate Buy” and a consensus target price of C$15.29.

Wesdome Gold Mines Stock Performance

Shares of WDO opened at C$12.15 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.49 and a quick ratio of 0.37. Wesdome Gold Mines has a 12-month low of C$7.03 and a 12-month high of C$14.99. The business’s fifty day moving average price is C$12.69 and its 200 day moving average price is C$12.20. The stock has a market capitalization of C$1.82 billion, a PE ratio of 46.73 and a beta of 0.85.

Wesdome Gold Mines (TSE:WDO) last issued its earnings results on Wednesday, August 14th. The company reported C$0.19 EPS for the quarter, topping the consensus estimate of C$0.14 by C$0.05. Wesdome Gold Mines had a return on equity of 8.68% and a net margin of 9.74%. The company had revenue of C$127.80 million during the quarter.

Insider Activity at Wesdome Gold Mines

In other Wesdome Gold Mines news, Senior Officer Frederic Mercier-Langevin sold 3,100 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$12.55, for a total transaction of C$38,905.00. In related news, Senior Officer Rajbir Gill sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$12.47, for a total transaction of C$43,645.00. Also, Senior Officer Frederic Mercier-Langevin sold 3,100 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of C$12.55, for a total value of C$38,905.00. Insiders have sold a total of 17,991 shares of company stock worth $235,103 in the last three months. 0.17% of the stock is 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.