Wesdome Gold Mines (TSE:WDO) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$27.00 and traded as high as C$28.15. Wesdome Gold Mines shares last traded at C$27.27, with a volume of 617,632 shares changing hands.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. National Bank Financial lifted their price target on shares of Wesdome Gold Mines from C$28.00 to C$32.00 and gave the company a “sector perform” rating in a report on Friday, March 13th. Desjardins lifted their price target on shares of Wesdome Gold Mines from C$32.00 to C$34.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Canaccord Genuity Group raised shares of Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price target for the company from C$30.00 to C$31.00 in a report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$30.14.

Wesdome Gold Mines Price Performance

The firm’s fifty day moving average price is C$27.00 and its 200 day moving average price is C$24.97. The company has a quick ratio of 0.37, a current ratio of 6.03 and a debt-to-equity ratio of 0.31. The stock has a market cap of C$4.04 billion, a PE ratio of 10.18 and a beta of 1.17.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Tuesday, May 12th. The company reported C$0.79 EPS for the quarter. Wesdome Gold Mines had a net margin of 39.54% and a return on equity of 46.09%. The firm had revenue of C$299.79 million for the quarter. As a group, equities analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

Insider Activity at Wesdome Gold Mines

In other news, insider Ronald James Jonathan Lawrence sold 1,557 shares of the business’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of C$22.86, for a total value of C$35,593.02. Following the transaction, the insider owned 1,259 shares of the company’s stock, valued at approximately C$28,780.74. The trade was a 55.29% decrease in their ownership of the stock. Also, Director Anthea Ingrid Bath sold 4,100 shares of the business’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of C$22.86, for a total transaction of C$93,726.00. Following the completion of the transaction, the director directly owned 40,456 shares in the company, valued at C$924,824.16. This trade represents a 9.20% decrease in their position. Insiders sold a total of 11,425 shares of company stock worth $261,176 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

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.