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

Wesdome Gold Mines Ltd. (TSE:WDO) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$27.00 and traded as high as C$28.15. Wesdome Gold Mines shares last traded at C$27.27, with a volume of 617,632 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WDO shares. National Bank Financial boosted their price target on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research report on Friday, March 13th. Desjardins increased their price objective on shares of Wesdome Gold Mines from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Canaccord Genuity Group raised shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price objective for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Wesdome Gold Mines currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.14.

Wesdome Gold Mines Stock Performance

The firm has a market capitalization of C$3.68 billion, a PE ratio of 9.27 and a beta of 1.17. The business has a 50-day simple moving average of C$26.91 and a 200-day simple moving average of C$25.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.03 and a quick ratio of 0.37.

Wesdome Gold Mines (TSE:WDO) last announced its earnings results on Tuesday, May 12th. The company reported C$0.79 EPS for the quarter. The firm had revenue of C$299.79 million during the quarter. Wesdome Gold Mines had a return on equity of 46.09% and a net margin of 39.54%. Equities research analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Wesdome Gold Mines news, insider Ronald James Jonathan Lawrence sold 1,557 shares of Wesdome Gold Mines stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$35,593.02. Following the completion of the transaction, the insider directly owned 1,259 shares of the company’s stock, valued at C$28,780.74. The trade was a 55.29% decrease in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 4,100 shares of Wesdome Gold Mines stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total transaction of C$93,726.00. Following the transaction, the director directly owned 40,456 shares of the company’s stock, valued at C$924,824.16. The trade was a 9.20% decrease in their ownership of the stock. Insiders have sold 11,425 shares of company stock valued at $261,176 in the last three months. Corporate insiders own 0.17% of the company’s stock.

About Wesdome Gold Mines

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.