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

Wesdome Gold Mines Ltd. (TSE:WDO) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$12.56 and traded as high as C$13.31. Wesdome Gold Mines shares last traded at C$13.29, with a volume of 201,228 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Desjardins upgraded 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 MarketBeat, Wesdome Gold Mines currently has an average rating of “Moderate Buy” and an average target price of C$15.29.

Wesdome Gold Mines Stock Up 2.2 %

The company has a fifty day moving average of C$12.57 and a 200 day moving average of C$12.71. The company has a quick ratio of 0.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.44. The company has a market cap of C$1.99 billion, a P/E ratio of 51.12 and a beta of 0.85.

Insider Transactions at Wesdome Gold Mines

In other news, Senior Officer Rajbir Gill bought 2,213 shares of Wesdome Gold Mines stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of C$11.65 per share, with a total value of C$25,781.45. Also, Director Anthea Ingrid Bath purchased 4,250 shares of the stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of C$11.83 per share, for a total transaction of C$50,277.50. Company insiders own 0.17% of the company’s stock.

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.