Wesdome Gold Mines (TSE:WDO) Stock Passes Above 50 Day Moving Average – What’s Next?

Wesdome Gold Mines Ltd. (TSE:WDO) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$12.53 and traded as high as C$12.96. Wesdome Gold Mines shares last traded at C$12.91, with a volume of 234,001 shares traded.

Wall Street Analysts Forecast Growth

Separately, Desjardins raised shares of Wesdome Gold Mines to a “hold” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$15.29.

Wesdome Gold Mines Stock Performance

The firm’s 50 day moving average price is C$12.52 and its two-hundred day moving average price is C$12.62. The firm has a market cap of C$2.01 billion, a PE ratio of 51.73 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.37 and a current ratio of 1.49.

Insider Buying and Selling

In other news, Senior Officer Rajbir Gill purchased 2,213 shares of the stock in a transaction on Monday, November 18th. The stock was bought at an average price of C$11.65 per share, for a total transaction of C$25,781.45. Also, Director Anthea Ingrid Bath acquired 4,250 shares of the company’s stock in a transaction on Monday, November 18th. The stock was purchased at an average cost of C$11.83 per share, for a total transaction of C$50,277.50. 0.17% of the stock is currently owned by company insiders.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada. It holds interest in the Eagle River Mine in Ontario; and the Kiena Mine in Québec. The company was formerly known as River Gold Mines Ltd. and changed its name to Wesdome Gold Mines Ltd. Wesdome Gold Mines Ltd.