Wesdome Gold Mines (OTCMKTS:WDOFF) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $18.73 and traded as high as $24.10. Wesdome Gold Mines shares last traded at $23.41, with a volume of 127,112 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Wesdome Gold Mines in a report on Thursday, July 23rd. National Bank Financial upgraded Wesdome Gold Mines from an “outperform” rating to an “outperform” rating in a research report on Thursday, July 2nd. Finally, Canadian Imperial Bank of Commerce upgraded Wesdome Gold Mines from a “neutral” rating to an “outperform” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wesdome Gold Mines presently has an average rating of “Moderate Buy”.

Wesdome Gold Mines Trading Up 0.0%

The firm’s 50-day moving average price is $19.07 and its 200-day moving average price is $18.76.

Wesdome Gold Mines Company Profile

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.