Wesdome Gold Mines (TSE:WDO) Sets New 12-Month High – Time to Buy?

Wesdome Gold Mines Ltd. (TSE:WDO) shares reached a new 52-week high on Tuesday . The company traded as high as C$16.71 and last traded at C$16.61, with a volume of 61985 shares trading hands. The stock had previously closed at C$15.97.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Securities raised Wesdome Gold Mines to a “hold” rating in a report on Tuesday, February 4th. Desjardins raised their price target on 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. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wesdome Gold Mines presently has a consensus rating of “Moderate Buy” and an average target price of C$15.63.

Wesdome Gold Mines Trading Up 2.4 %

The firm has a market capitalization of C$2.48 billion, a price-to-earnings ratio of 30.51 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 firm’s 50 day moving average is C$14.56 and its 200 day moving average is C$13.34.

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.