Wesdome Gold Mines (TSE:WDO) Shares Pass Above Fifty Day Moving Average on Insider Selling

Wesdome Gold Mines Ltd. (TSE:WDO) shares crossed above its 50 day moving average during trading on Monday following insider buying activity. The stock has a 50 day moving average of C$16.99 and traded as high as C$18.91. Wesdome Gold Mines shares last traded at C$18.86, with a volume of 141,893 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TD Securities raised shares of Wesdome Gold Mines to a “hold” rating in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on shares of Wesdome Gold Mines from C$17.00 to C$19.00 in a research note on Friday, April 4th. National Bankshares lifted their price objective on shares of Wesdome Gold Mines from C$26.75 to C$28.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Desjardins boosted their target price on shares of Wesdome Gold Mines from C$17.50 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$17.81.

Wesdome Gold Mines Trading Up 1.0%

The business’s 50-day moving average price is C$16.99 and its 200-day moving average price is C$14.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.14 and a quick ratio of 0.37. The firm has a market capitalization of C$2.86 billion, a PE ratio of 35.20 and a beta of 0.85.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd is a gold producer engaged in mining-related activities including exploration, processing, and reclamation. The company produces gold at the Eagle River Complex located near Wawa, Ontario from the Eagle River Underground and Mishi Open Pit gold mines. Activities of the group primarily function through Canada and it derives revenue from the sale of gold and silver bullion.