Wesdome Gold Mines (OTCMKTS:WDOFF) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.34 and traded as high as $18.98. Wesdome Gold Mines shares last traded at $18.98, with a volume of 162,376 shares changing hands.

Analysts Set New Price Targets

Separately, National Bank Financial raised Wesdome Gold Mines from an “outperform” rating to an “outperform” rating in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Wesdome Gold Mines Stock Down 2.2%

The stock’s fifty day simple moving average is $18.83 and its two-hundred day simple moving average is $18.34.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd. is a publicly traded Canadian gold producer and explorer focused on its flagship Eagle River Complex in Ontario and the high?grade Kiena gold complex in Quebec. The Eagle River Complex, situated near Wawa, Ontario, comprises an underground mine, the Mishi open?pit deposit and a 3,200?tonne?per?day milling facility that produces gold?rich concentrates. In Val?d’Or, Quebec, the Kiena property features an established decline and infrastructure supporting ongoing underground exploration at the Deep A Zone and evaluation of adjoining zones for potential resource expansion.

Since commencing production in 2008, Eagle River has delivered steady gold output through conventional milling and flotation circuits, while exploration programs at Kiena have continued to intersect high?grade gold mineralization.