Wesdome Gold Mines (TSE:WDO) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Wesdome Gold Mines Ltd. (TSE:WDO) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$23.84 and traded as high as C$24.84. Wesdome Gold Mines shares last traded at C$24.77, with a volume of 681,138 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Wesdome Gold Mines from C$25.00 to C$29.00 in a research note on Wednesday, December 10th. Canaccord Genuity Group downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and increased their target price for the stock from C$27.00 to C$28.00 in a research report on Monday, January 26th. TD Securities raised their target price on Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. Finally, National Bank Financial downgraded Wesdome Gold Mines from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$31.00 to C$28.00 in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$26.86.

Wesdome Gold Mines Stock Up 3.4%

The stock has a market cap of C$3.74 billion, a P/E ratio of 12.97 and a beta of 0.83. 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 firm’s fifty day moving average is C$23.84 and its 200 day moving average is C$21.52.

Wesdome Gold Mines Company Profile

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.