Wesdome Gold Mines (TSE:WDO) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$21.81 and traded as high as C$24.35. Wesdome Gold Mines shares last traded at C$24.00, with a volume of 158,765 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on WDO shares. CIBC lifted their price target on shares of Wesdome Gold Mines from C$24.00 to C$27.00 in a research note on Friday, October 10th. Stifel Canada upgraded Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Canaccord Genuity Group upped their target price on Wesdome Gold Mines from C$21.50 to C$22.50 in a report on Thursday, October 2nd. Stifel Nicolaus raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and increased their price target for the company from C$20.50 to C$28.00 in a research report on Monday, October 20th. Finally, Royal Bank Of Canada boosted their price target on Wesdome Gold Mines from C$25.00 to C$29.00 in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$25.42.

Wesdome Gold Mines Stock Performance

The company has a market capitalization of C$3.62 billion, a P/E ratio of 12.57 and a beta of 0.76. The stock’s fifty day moving average price is C$21.83 and its 200-day moving average price is C$19.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$0.58 EPS for the quarter. The business had revenue of C$230.28 million during the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%. As a group, research analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.