Wesdome Gold Mines (TSE:WDO) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$29.87 and traded as high as C$34.50. Wesdome Gold Mines shares last traded at C$34.00, with a volume of 311,417 shares.

Analyst Ratings Changes

WDO has been the subject of several recent research reports. National Bank Financial upped their price target on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Desjardins upped their target price on shares of Wesdome Gold Mines from C$34.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Stifel Nicolaus raised shares of Wesdome Gold Mines to a “strong-buy” rating in a research report on Monday, June 29th. BMO Capital Markets downgraded shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and upped their price objective for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$33.38.

Wesdome Gold Mines Trading Down 3.3%

The firm has a 50 day moving average of C$30.22 and a 200 day moving average of C$27.40. The firm has a market cap of C$4.81 billion, a PE ratio of 12.10 and a beta of 1.65. The company has a quick ratio of 0.37, a current ratio of 6.90 and a debt-to-equity ratio of 0.73.

Wesdome Gold Mines (TSE:WDO) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$0.65 EPS for the quarter. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%.The firm had revenue of C$266.76 million for the quarter. Equities analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current year.

Wesdome Gold Mines Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.0306 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.12 annualized dividend and a yield of 0.4%.

Insider Activity

In other news, insider Rajbir Gill purchased 1,047 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of C$24.02 per share, with a total value of C$25,148.94. Following the completion of the acquisition, the insider owned 24,669 shares in the company, valued at C$592,549.38. This trade represents a 4.43% increase in their position. Also, insider Robert Kallio sold 4,341 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of C$24.11, for a total value of C$104,661.51. Following the completion of the sale, the insider owned 4,029 shares in the company, valued at C$97,139.19. This trade represents a 51.86% decrease in their position. Insiders have sold 84,394 shares of company stock valued at $2,509,289 over the last 90 days. Company insiders own 0.17% of the company’s stock.

About Wesdome Gold Mines

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.