Wesdome Gold Mines (TSE:WDO) Stock Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• Wesdome Gold Mines Ltd. shares crossed above their 50-day moving average of C$17.71, reaching a high of C$19.52 before last trading at C$18.42 with considerable trading volume.
• Analyst upgrades have occurred, with the Royal Bank of Canada raising their price target to C$22.00 and National Bankshares to C$28.00, while some analysts have lowered ratings, resulting in an average target price of C$22.13.
• The company's debt-to-equity ratio stands at 0.30, highlighting a relatively stable financial position amid ongoing trading fluctuations.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$17.71 and traded as high as C$19.52. Wesdome Gold Mines shares last traded at C$18.42, with a volume of 1,221,420 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on WDO. Canaccord Genuity Group upgraded shares of Wesdome Gold Mines from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada upped their target price on shares of Wesdome Gold Mines from C$19.00 to C$22.00 in a report on Wednesday, June 4th. Stifel Nicolaus lowered shares of Wesdome Gold Mines from a "buy" rating to a "hold" rating and lowered their target price for the stock from C$24.00 to C$20.50 in a report on Friday, August 15th. Finally, Stifel Canada lowered shares of Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$22.13.

Wesdome Gold Mines Stock Up 4.7%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.37 and a current ratio of 2.14. The firm has a market capitalization of C$2.90 billion, a PE ratio of 11.99 and a beta of 0.22. The company's 50 day simple moving average is C$17.74 and its 200-day simple moving average is C$17.62.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, Senior Officer Rajbir Gill sold 10,822 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of C$18.56, for a total value of C$200,856.32. 0.17% of the stock is owned by corporate insiders.

Wesdome Gold Mines Company Profile

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.