Wesdome Gold Mines (TSE:WDO) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Wesdome Gold Mines Ltd. (TSE:WDO) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$21.89 and traded as high as C$23.17. Wesdome Gold Mines shares last traded at C$21.72, with a volume of 778,484 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Canaccord Genuity Group upped their target price on Wesdome Gold Mines from C$21.50 to C$22.50 in a report on Thursday, October 2nd. Stifel Nicolaus upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$20.50 to C$28.00 in a report on Monday, October 20th. Royal Bank Of Canada raised their target price on shares of Wesdome Gold Mines from C$25.00 to C$29.00 in a report on Wednesday, December 10th. Stifel Canada raised shares of Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, CIBC upped their price target on shares of Wesdome Gold Mines from C$24.00 to C$27.00 in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$25.42.

Wesdome Gold Mines Price Performance

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 stock’s 50 day moving average price is C$21.89 and its two-hundred day moving average price is C$20.07. The firm has a market capitalization of C$3.28 billion, a price-to-earnings ratio of 11.37 and a beta of 0.76.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.58 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a return on equity of 17.53% and a net margin of 17.01%.The firm had revenue of C$230.28 million during the quarter. Analysts anticipate 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.