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

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$23.66 and traded as high as C$24.39. Wesdome Gold Mines shares last traded at C$24.34, with a volume of 991,791 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank Of Canada raised their price objective on Wesdome Gold Mines from C$25.00 to C$29.00 in a research note on Wednesday, December 10th. Canaccord Genuity Group downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and lifted their price target for the company from C$27.00 to C$28.00 in a research report on Monday, January 26th. Stifel Nicolaus upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$20.50 to C$28.00 in a report on Monday, October 20th. National Bank Financial lowered shares of Wesdome Gold Mines from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$31.00 to C$28.00 in a research note on Wednesday, February 4th. Finally, TD Securities boosted their target price on shares of Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$26.86.

Wesdome Gold Mines Price Performance

The firm has a market cap of C$3.67 billion, a P/E ratio of 12.74 and a beta of 0.83. The company has a fifty day moving average of C$23.66 and a 200-day moving average of C$21.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported C$0.58 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a net margin of 17.01% and a return on equity of 17.53%. The firm had revenue of C$230.28 million for the quarter. On average, sell-side analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

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.