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 fifty day moving average during trading on Monday . The stock has a fifty 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 trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WDO. Desjardins raised Wesdome Gold Mines from a “hold” rating to a “buy” rating and upped their target price for the company from C$15.00 to C$17.50 in a research report on Thursday, February 13th. TD Securities raised Wesdome Gold Mines to a “hold” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$15.56.

Wesdome Gold Mines Stock Performance

The stock has a 50 day simple moving average of C$13.66 and a 200 day simple moving average of C$13.08. The company has a current ratio of 2.14, a quick ratio of 0.37 and a debt-to-equity ratio of 0.30. The stock has a market cap of C$2.16 billion, a P/E ratio of 26.58 and a beta of 0.85.

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.