TSE:WDO Q3 EPS Forecast Reduced by National Bank Financial

Wesdome Gold Mines Ltd. (TSE:WDO) – Analysts at National Bank Financial lowered their Q3 2024 earnings per share estimates for shares of Wesdome Gold Mines in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings of $0.14 per share for the quarter, down from their prior forecast of $0.20. The consensus estimate for Wesdome Gold Mines’ current full-year earnings is $1.29 per share.

WDO has been the subject of several other research reports. Ventum Financial boosted their price objective on Wesdome Gold Mines from C$12.05 to C$15.00 in a report on Thursday, August 29th. CIBC increased their price target on shares of Wesdome Gold Mines from C$14.00 to C$14.50 in a report on Wednesday, July 10th. Canaccord Genuity Group lifted their price objective on shares of Wesdome Gold Mines from C$11.75 to C$14.00 in a report on Tuesday, July 23rd. BMO Capital Markets increased their target price on Wesdome Gold Mines from C$14.00 to C$18.00 in a research note on Thursday, August 15th. Finally, Eight Capital lifted their price target on Wesdome Gold Mines from C$15.00 to C$16.00 in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$14.38.

Wesdome Gold Mines Price Performance

Shares of TSE WDO opened at C$13.03 on Friday. The stock’s 50-day simple moving average is C$12.97 and its two-hundred day simple moving average is C$12.08. Wesdome Gold Mines has a twelve month low of C$7.03 and a twelve month high of C$14.99. The firm has a market capitalization of C$1.95 billion, a P/E ratio of 50.12 and a beta of 0.85. The company has a quick ratio of 0.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.44.

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

Insider Activity

In related news, Senior Officer Frederic Mercier-Langevin sold 5,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of C$13.37, for a total transaction of C$66,850.00. In other Wesdome Gold Mines news, Senior Officer Rajbir Gill sold 3,500 shares of the 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 value of C$43,645.00. Also, Senior Officer Frederic Mercier-Langevin sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$13.37, for a total value of C$66,850.00. Over the last 90 days, insiders sold 17,991 shares of company stock valued at $235,103. 0.17% of the stock is currently owned by company insiders.

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.