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

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.97 and traded as high as $19.14. Wesdome Gold Mines shares last traded at $18.62, with a volume of 283,089 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Wesdome Gold Mines in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Wesdome Gold Mines Stock Performance

The business has a 50 day moving average of $17.76 and a 200-day moving average of $15.97.

About Wesdome Gold Mines

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.