Wesdome Gold Mines (TSE:WDO) Stock Crosses Above Fifty Day Moving Average – Should You Sell?

Wesdome Gold Mines Ltd. (TSE:WDO) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$23.84 and traded as high as C$24.84. Wesdome Gold Mines shares last traded at C$24.77, with a volume of 681,138 shares traded.

Analyst Ratings Changes

A number of research firms have recently weighed in on WDO. National Bank Financial downgraded Wesdome Gold Mines from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$31.00 to C$28.00 in a research note on Wednesday, February 4th. TD Securities raised their target price on Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. Royal Bank Of Canada boosted their target price on Wesdome Gold Mines from C$25.00 to C$29.00 in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and increased their price target for the company from C$27.00 to C$28.00 in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Wesdome Gold Mines currently has a consensus rating of “Hold” and a consensus target price of C$26.86.

Wesdome Gold Mines Trading Up 3.7%

The firm has a market capitalization of C$3.88 billion, a price-to-earnings ratio of 13.45 and a beta of 0.83. The business’s fifty day moving average is C$23.90 and its 200 day moving average is C$21.58. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30.

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.