Wesdome Gold Mines (OTCMKTS:WDOFF) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.79 and traded as high as $19.39. Wesdome Gold Mines shares last traded at $19.03, with a volume of 152,110 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Wesdome Gold Mines in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Wesdome Gold Mines Trading Up 1.2%

The company’s 50 day moving average is $19.12 and its 200-day moving average is $17.79.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd. is a publicly traded Canadian gold producer and explorer focused on its flagship Eagle River Complex in Ontario and the high‐grade Kiena gold complex in Quebec. The Eagle River Complex, situated near Wawa, Ontario, comprises an underground mine, the Mishi open‐pit deposit and a 3,200‐tonne‐per‐day milling facility that produces gold‐rich concentrates. In Val‐d’Or, Quebec, the Kiena property features an established decline and infrastructure supporting ongoing underground exploration at the Deep A Zone and evaluation of adjoining zones for potential resource expansion.

Since commencing production in 2008, Eagle River has delivered steady gold output through conventional milling and flotation circuits, while exploration programs at Kiena have continued to intersect high‐grade gold mineralization.