Wesdome Gold Mines (TSE:WDO) Share Price Passes Above 50 Day Moving Average – Here’s Why

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$13.66 and traded as high as C$14.34. Wesdome Gold Mines shares last traded at C$14.24, with a volume of 309,803 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Securities upgraded Wesdome Gold Mines to a “hold” rating in a report on Tuesday, February 4th. Desjardins upgraded Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their target price for the stock from C$15.00 to C$17.50 in a report on Thursday, February 13th. 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 stock. According to MarketBeat.com, Wesdome Gold Mines has a consensus rating of “Moderate Buy” and an average price target of C$15.56.

Wesdome Gold Mines Stock Up 2.5 %

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 firm has a 50 day simple moving average of C$13.66 and a 200-day simple moving average of C$13.08. The stock has a market cap of C$2.16 billion, a P/E ratio of 26.58 and a beta of 0.85.

Wesdome Gold Mines Company Profile

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.