Wesdome Gold Mines (OTCMKTS:WDOFF) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.44 and traded as high as $18.92. Wesdome Gold Mines shares last traded at $18.7950, with a volume of 102,583 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Canadian Imperial Bank of Commerce raised Wesdome Gold Mines from a “neutral” rating to an “outperform” rating in a report on Friday, July 17th. National Bank Financial upgraded shares of Wesdome Gold Mines from an “outperform” rating to an “outperform” rating in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Wesdome Gold Mines in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Wesdome Gold Mines Trading Up 0.9%

The business has a fifty day moving average price of $18.37 and a 200-day moving average price of $18.45.

About Wesdome Gold Mines

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.