Wesdome Gold Mines (TSE:WDO) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Wesdome Gold Mines Ltd. (TSE:WDO) passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 trading hands.

Analyst Upgrades and Downgrades

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

Wesdome Gold Mines Stock Down 1.1%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14. The company has a market capitalization of C$3.62 billion, a PE ratio of 12.57 and a beta of 0.76. The firm’s 50-day simple moving average is C$21.81 and its 200 day simple moving average is C$19.93.

Wesdome Gold Mines (TSE:WDO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$0.58 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 during the quarter. As a group, equities research analysts forecast that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current 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.