Wesdome Gold Mines (TSE:WDO) Stock Price Passes Above Fifty Day Moving Average on Insider Selling

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price passed above its 50-day moving average during trading on Monday following insider buying activity. The stock has a 50-day moving average of C$16.99 and traded as high as C$18.91. Wesdome Gold Mines shares last traded at C$18.86, with a volume of 141,893 shares.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Securities raised Wesdome Gold Mines to a “hold” rating in a report on Tuesday, February 4th. Desjardins increased their target price on Wesdome Gold Mines from C$17.50 to C$18.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. National Bankshares increased their target price on Wesdome Gold Mines from C$26.75 to C$28.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, Royal Bank of Canada increased their target price on Wesdome Gold Mines from C$17.00 to C$19.00 in a report on Friday, April 4th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wesdome Gold Mines has an average rating of “Buy” and a consensus price target of C$17.81.

Wesdome Gold Mines Trading Up 1.0%

The business has a 50-day simple moving average of C$16.99 and a two-hundred day simple moving average of C$14.77. The stock has a market cap of C$2.86 billion, a price-to-earnings ratio of 35.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37.

Wesdome Gold Mines Company Profile

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.