Wesdome Gold Mines (TSE:WDO) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Wesdome Gold Mines Ltd. (TSE:WDO) passed 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 traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WDO. National Bankshares upped their price objective on shares of Wesdome Gold Mines from C$17.25 to C$17.50 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their price target on shares of Wesdome Gold Mines from C$14.00 to C$18.00 in a report on Thursday, August 15th. Ventum Financial boosted their price objective on shares of Wesdome Gold Mines from C$12.05 to C$15.00 in a research report on Thursday, August 29th. CIBC upped their target price on Wesdome Gold Mines from C$14.00 to C$14.50 in a research note on Wednesday, July 10th. 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wesdome Gold Mines presently has an average rating of “Moderate Buy” and an average price target of C$14.38.

Wesdome Gold Mines Stock Down 1.1 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.49 and a quick ratio of 0.37. The stock has a market capitalization of C$1.96 billion, a P/E ratio of 50.46 and a beta of 0.85. The firm has a 50-day simple moving average of C$12.99 and a 200 day simple moving average of C$12.06.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings data on Wednesday, August 14th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.14 by C$0.05. Wesdome Gold Mines had a return on equity of 8.68% and a net margin of 9.74%. The company had revenue of C$127.80 million during the quarter. On average, equities research analysts forecast 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 Rajbir Gill sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of C$12.47, for a total transaction of C$43,645.00. In other news, Senior Officer Frederic Mercier-Langevin sold 3,100 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of C$12.55, for a total value of C$38,905.00. Also, Senior Officer Rajbir Gill sold 3,500 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$12.47, for a total value of C$43,645.00. In the last quarter, insiders have sold 17,991 shares of company stock worth $235,103. Insiders own 0.17% of the company’s stock.

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.