Wesdome Gold Mines (OTCMKTS:WDOFF) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $20.18 and traded as high as $25.56. Wesdome Gold Mines shares last traded at $25.44, with a volume of 112,889 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. National Bank Financial raised Wesdome Gold Mines from an “outperform” rating to an “outperform” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada restated a “sector perform” rating on shares of Wesdome Gold Mines in a research note on Thursday, July 23rd. BMO Capital Markets downgraded shares of Wesdome Gold Mines from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 18th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Wesdome Gold Mines in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Wesdome Gold Mines Price Performance

The business has a 50-day simple moving average of $23.11 and a two-hundred day simple moving average of $20.22.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd. is a Canadian gold-mining company focused on the exploration, development, and operation of underground mines in Canada. The company produces gold doré and related gold products through its mining and processing activities.

Wesdome’s principal assets include the Eagle River underground mine and processing complex near Wawa, Ontario, and the Kiena underground mine and mill in Val-d’Or, Quebec. Eagle River is an established producing operation, while the Kiena complex supports the company’s mining activities in the Abitibi region of Quebec.

Founded in 1976, Wesdome has a long history of gold exploration and mining in Canada.