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

Shares of Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.30 and traded as high as $18.44. Wesdome Gold Mines shares last traded at $18.19, with a volume of 206,686 shares trading hands.

Analyst Ratings Changes

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

Wesdome Gold Mines Stock Performance

The stock has a 50-day moving average price of $17.91 and a 200 day moving average price of $16.30.

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.