Wesdome Gold Mines (TSE:WDO) Shares Cross Above 50-Day Moving Average – Here’s Why

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$12.97 and traded as high as C$14.21. Wesdome Gold Mines shares last traded at C$14.18, with a volume of 314,340 shares changing hands.

Wall Street Analyst Weigh In

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

Wesdome Gold Mines Price Performance

The company has a market cap of C$2.12 billion, a price-to-earnings ratio of 54.54 and a beta of 0.85. 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’s fifty day moving average price is C$12.97 and its two-hundred day moving average price is C$12.88.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.26 earnings per share for the quarter, beating the consensus estimate of C$0.14 by C$0.12. Wesdome Gold Mines had a net margin of 9.74% and a return on equity of 8.68%. On average, equities research analysts forecast that Wesdome Gold Mines Ltd. will post 1.293456 EPS for the current fiscal year.

Insider Activity at Wesdome Gold Mines

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