Wesdome Gold Mines (TSE:WDO) Stock Price Passes Above 50-Day Moving Average on Insider Selling

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price crossed above its 50-day moving average during trading on Monday following insider buying activity. The stock has a 50-day moving average of C$18.35 and traded as high as C$18.79. Wesdome Gold Mines shares last traded at C$18.75, with a volume of 1,461,341 shares changing hands.

Wall Street Analysts Forecast Growth

WDO has been the subject of several research reports. Desjardins upped their target price on shares of Wesdome Gold Mines from C$17.50 to C$18.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. Royal Bank Of Canada upped their target price on shares of Wesdome Gold Mines from C$19.00 to C$22.00 in a research report on Wednesday, June 4th. Finally, National Bankshares upped their target price on shares of Wesdome Gold Mines from C$26.75 to C$28.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd.

Wesdome Gold Mines Price Performance

The firm’s 50-day moving average is C$18.35 and its 200-day moving average is C$16.11. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. The company has a market capitalization of C$2.85 billion, a PE ratio of 34.99 and a beta of 0.85.

About Wesdome Gold Mines

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.