Analyst Andrew Mikitchook of BMO Capital maintained a Buy rating on Wesdome Gold Mines, retaining the price target of C$30.00.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Andrew Mikitchook has given his Buy rating due to a combination of factors, including Wesdome’s ability to maintain full‑year guidance despite a softer first quarter at Kiena. He highlights that Eagle’s production is tracking in line with expectations, with stronger grades scheduled for later in the year, which should support higher output and improved operating performance.
He also points to the company’s substantial exploration program and “fill‑the‑mill” strategy as key drivers of long‑term value, aimed at both replacing reserves and expanding resources toward a larger production profile. In addition, Wesdome’s recent share buybacks, funded with $49 million to repurchase 2.1 million shares, are viewed as a clear signal of management’s confidence in the asset base and future cash flow generation, reinforcing the positive investment thesis.
In another report released on March 30, Stifel Nicolaus also maintained a Buy rating on the stock with a C$32.00 price target.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WDO in relation to earlier this year.