Wesdome Gold Mines (TSE:WDO) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Wesdome Gold Mines Ltd. (TSE:WDO) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of C$32.59 and traded as high as C$35.60. Wesdome Gold Mines shares last traded at C$35.15, with a volume of 532,801 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canadian Imperial Bank of Commerce boosted their price objective on Wesdome Gold Mines from C$32.00 to C$35.00 in a report on Friday, August 21st. Desjardins upped their target price on Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. BMO Capital Markets downgraded shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and lifted their price objective for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a research note on Monday, June 29th. Finally, National Bank Financial upped their price target on shares of Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Wesdome Gold Mines currently has a consensus rating of “Buy” and a consensus price target of C$33.38.

Wesdome Gold Mines Price Performance

The company has a current ratio of 6.90, a quick ratio of 0.37 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of C$33.30 and a 200 day moving average price of C$28.59. The stock has a market capitalization of C$4.91 billion, a price-to-earnings ratio of 12.35 and a beta of 1.32.

Wesdome Gold Mines (TSE:WDO) last announced its earnings results on Thursday, August 13th. The company reported C$0.65 earnings per share for the quarter. The business had revenue of C$266.76 million during the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%. As a group, equities research analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Wesdome Gold Mines Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.0306 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%.

Insiders Place Their Bets

In other Wesdome Gold Mines news, Director Anthea Ingrid Bath sold 66,961 shares of Wesdome Gold Mines stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of C$31.15, for a total transaction of C$2,085,835.15. Following the sale, the director owned 130,128 shares of the company’s stock, valued at C$4,053,487.20. The trade was a 33.98% decrease in their position. Insiders own 0.17% of the company’s stock.

About Wesdome Gold Mines

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.