Wesdome Gold Mines (TSX:WDO) reported third-quarter gold production of 41,287 ounces, down from 50,465 ounces a year earlier, and nine-month output was also lower than the prior period. The shares rose 6.10% in one day after the update, 25.00% over 90 days and 45.72% year to date, with a three-year total shareholder return nearing 3x. The stock trades at a P/E of 10.9x, compared with 10.5x for its peer average, 14.7x for the Canadian metals and mining sector and an estimated fair P/E of 17.5x, at a recent price of CA$31.65. The article labels the stock UNDERVALUED based on the SWS fair ratio and says the outlook could change if production stays under pressure or costs weigh more heavily on earnings.
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