Wesdome Gold Mines (TSE:WDO) Share Price Passes Above 50-Day Moving Average – What’s Next?

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$25.82 and traded as high as C$28.53. Wesdome Gold Mines shares last traded at C$28.28, with a volume of 836,957 shares trading hands.

Analyst Ratings Changes

A number of research firms have commented on WDO. Desjardins lifted their target price on shares of Wesdome Gold Mines from C$32.00 to C$34.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. National Bank Financial upgraded shares of Wesdome Gold Mines from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$34.00 to C$37.00 in a research report on Friday, July 3rd. Canaccord Genuity Group raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and raised their price objective for the stock from C$30.00 to C$31.00 in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce raised Wesdome Gold Mines from a “neutral” rating to an “outperformer” rating and boosted their target price for the company from C$31.00 to C$32.00 in a research note on Friday, July 17th. Finally, Stifel Nicolaus upgraded Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, Wesdome Gold Mines presently has a consensus rating of “Buy” and an average target price of C$31.57.

Wesdome Gold Mines Stock Performance

The company has a market cap of C$4.75 billion, a PE ratio of 11.94 and a beta of 1.33. 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 company has a 50-day moving average of C$26.04 and a 200-day moving average of C$25.67.

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

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, insider Robert Kallio sold 4,341 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of C$24.11, for a total value of C$104,661.51. Following the sale, the insider owned 4,029 shares in the company, valued at C$97,139.19. The trade was a 51.86% decrease in their position. Also, insider Rajbir Gill purchased 1,047 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of C$24.02 per share, with a total value of C$25,148.94. Following the acquisition, the insider directly owned 24,669 shares in the company, valued at C$592,549.38. This represents a 4.43% increase in their ownership of the stock. Insiders sold 17,433 shares of company stock valued at $423,454 over the last 90 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.