Wesdome Gold Mines (OTCMKTS:WDOFF) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $19.66 and traded as high as $25.00. Wesdome Gold Mines shares last traded at $24.66, with a volume of 152,449 shares changing hands.

Wall Street Analyst Weigh In

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

Wesdome Gold Mines Stock Performance

The company has a 50 day moving average of $21.52 and a 200-day moving average of $19.71.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd. is a publicly traded Canadian gold producer and explorer focused on its flagship Eagle River Complex in Ontario and the high‐grade Kiena gold complex in Quebec. The Eagle River Complex, situated near Wawa, Ontario, comprises an underground mine, the Mishi open‐pit deposit and a 3,200‐tonne‐per‐day milling facility that produces gold‐rich concentrates. In Val‐d’Or, Quebec, the Kiena property features an established decline and infrastructure supporting ongoing underground exploration at the Deep A Zone and evaluation of adjoining zones for potential resource expansion.

Since commencing production in 2008, Eagle River has delivered steady gold output through conventional milling and flotation circuits, while exploration programs at Kiena have continued to intersect high‐grade gold mineralization.