Wesdome Gold Mines (TSE:WDO) Stock Passes Above 50-Day Moving Average – What’s Next?

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$12.99 and traded as high as C$13.19. Wesdome Gold Mines shares last traded at C$13.12, with a volume of 452,798 shares.

Analyst Upgrades and Downgrades

WDO has been the topic of several analyst reports. Canaccord Genuity Group raised their price objective on Wesdome Gold Mines from C$11.75 to C$14.00 in a report on Tuesday, July 23rd. National Bankshares lifted their price target on Wesdome Gold Mines from C$17.25 to C$17.50 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped their price objective on shares of Wesdome Gold Mines from C$14.00 to C$18.00 in a research note on Thursday, August 15th. Eight Capital raised their target price on shares of Wesdome Gold Mines from C$15.00 to C$16.00 in a research report on Thursday, August 15th. Finally, CIBC upped their price target on shares of Wesdome Gold Mines from C$14.00 to C$14.50 in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wesdome Gold Mines presently has an average rating of “Moderate Buy” and a consensus target price of C$14.38.

Wesdome Gold Mines Stock Down 1.9 %

The stock has a fifty day moving average price of C$12.94 and a 200-day moving average price of C$12.09. The firm has a market cap of C$1.91 billion, a PE ratio of 49.15 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.37 and a current ratio of 1.49.

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, beating analysts’ consensus estimates of C$0.14 by C$0.05. The business had revenue of C$127.80 million during the quarter. Wesdome Gold Mines had a return on equity of 8.68% and a net margin of 9.74%. Research analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current year.

Insider Buying and Selling at Wesdome Gold Mines

In other news, Senior Officer Frederic Mercier-Langevin sold 3,100 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of C$12.55, for a total transaction of C$38,905.00. In other news, Senior Officer Frederic Mercier-Langevin sold 3,100 shares of Wesdome Gold Mines stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of C$12.55, for a total transaction of C$38,905.00. Also, Senior Officer Rajbir Gill sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of C$12.47, for a total value of C$43,645.00. Insiders sold 17,991 shares of company stock valued at $235,103 over the last 90 days. 0.17% of the stock is owned by corporate 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.