Wesdome Gold Mines (OTCMKTS:WDOFF) Shares Cross Above 200-Day Moving Average – Time to Sell?

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $20.10 and traded as high as $20.4552. Wesdome Gold Mines shares last traded at $20.19, with a volume of 433,740 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WDOFF shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wesdome Gold Mines in a research note on Friday, October 16th. BMO Capital Markets lowered shares of Wesdome Gold Mines from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 18th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Wesdome Gold Mines in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Wesdome Gold Mines Trading Up 1.0%

The business has a fifty day simple moving average of $22.99 and a 200 day simple moving average of $20.10.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd. is a Canadian gold mining company engaged in the exploration, development, extraction and processing of gold deposits. The company produces gold doré and related mineral products from its underground mining operations and operates primarily in Canada.

Wesdome’s principal assets include the Eagle River Complex in Ontario’s Wawa area and the Kiena Mine in Val-d’Or, Quebec. The Eagle River Complex includes the Eagle River underground mine and an associated processing facility, while Kiena is an underground gold mine and mill complex in the Abitibi region of Quebec.

Founded in 1976, Wesdome has developed a portfolio focused on high-grade Canadian gold deposits.