Wesdome Gold Mines (TSE:WDO) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$27.00 and traded as high as C$28.15. Wesdome Gold Mines shares last traded at C$27.27, with a volume of 617,632 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WDO. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. National Bank Financial lifted their price target on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Friday, March 13th. Finally, Desjardins lifted their price target on shares of Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Wesdome Gold Mines has a consensus rating of “Moderate Buy” and a consensus price target of C$30.14.

Wesdome Gold Mines Price Performance

The firm’s 50-day moving average is C$27.00 and its 200-day moving average is C$24.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.03 and a quick ratio of 0.37. The company has a market capitalization of C$4.04 billion, a P/E ratio of 10.18 and a beta of 1.17.

Wesdome Gold Mines (TSE:WDO) last announced its earnings results on Tuesday, May 12th. The company reported C$0.79 earnings per share (EPS) for the quarter. The company had revenue of C$299.79 million during the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. Analysts predict that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

Insider Buying and Selling at Wesdome Gold Mines

In related news, insider Kevin Lonergan sold 1,219 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$27,866.34. Following the completion of the sale, the insider directly owned 2,327 shares in the company, valued at approximately C$53,195.22. The trade was a 34.38% decrease in their ownership of the stock. Also, insider Ronald James Jonathan Lawrence sold 1,557 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total transaction of C$35,593.02. Following the sale, the insider owned 1,259 shares of the company’s stock, valued at C$28,780.74. This trade represents a 55.29% decrease in their ownership of the stock. Over the last three months, insiders have sold 11,425 shares of company stock valued at $261,176. 0.17% of the stock is owned by corporate insiders.

Wesdome Gold Mines Company Profile

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.