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

Wesdome Gold Mines Ltd. (TSE:WDO) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$21.81 and traded as high as C$24.35. Wesdome Gold Mines shares last traded at C$24.00, with a volume of 158,765 shares traded.

Analysts Set New Price Targets

WDO has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Wesdome Gold Mines from C$21.50 to C$22.50 in a research report on Thursday, October 2nd. Stifel Canada raised Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada upped their target price on Wesdome Gold Mines from C$25.00 to C$29.00 in a report on Wednesday, December 10th. CIBC raised their target price on Wesdome Gold Mines from C$24.00 to C$27.00 in a research note on Friday, October 10th. Finally, Stifel Nicolaus upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$20.50 to C$28.00 in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Wesdome Gold Mines has an average rating of “Buy” and a consensus target price of C$25.42.

Wesdome Gold Mines Price Performance

The company has a fifty day moving average of C$21.81 and a 200-day moving average of C$19.93. The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30. The stock has a market cap of C$3.62 billion, a PE ratio of 12.57 and a beta of 0.76.

Wesdome Gold Mines (TSE:WDO) last released its earnings results on Tuesday, November 4th. The company reported C$0.58 earnings per share for the quarter. The company had revenue of C$230.28 million during the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%. Sell-side analysts expect that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

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.