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 Wednesday . The stock has a fifty day moving average of C$23.66 and traded as high as C$24.39. Wesdome Gold Mines shares last traded at C$24.34, with a volume of 991,791 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on the company. Canaccord Genuity Group downgraded Wesdome Gold Mines from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$27.00 to C$28.00 in a report on Monday, January 26th. TD Securities raised their price objective on Wesdome Gold Mines from C$25.00 to C$30.00 in a research report on Thursday, January 22nd. National Bank Financial cut Wesdome Gold Mines from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$31.00 to C$28.00 in a report on Wednesday, February 4th. Royal Bank Of Canada increased their target price on shares of Wesdome Gold Mines from C$25.00 to C$29.00 in a research report on Wednesday, December 10th. Finally, Stifel Nicolaus upgraded shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$20.50 to C$28.00 in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$26.86.

Wesdome Gold Mines Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37. The stock has a fifty day simple moving average of C$23.66 and a two-hundred day simple moving average of C$21.26. The firm has a market capitalization of C$3.67 billion, a P/E ratio of 12.74 and a beta of 0.83.

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 company had revenue of C$230.28 million during the quarter. On average, research analysts predict that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current year.

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.