Wesdome Gold Mines (TSE:WDO) Shares Cross Below 50 Day Moving Average - Here's What Happened

Key Points

• Shares fell below the 50-day moving average, trading as low as C$23.80 versus a 50-day MA of C$24.39 and last at C$24.21 on volume of 527,529 shares.
• Analysts have mixed views after recent updates—two Buy and three Hold ratings—resulting in an overall average rating of "Hold" with an average price target of C$26.86.
• Wesdome is a C$3.65 billion Canadian gold producer with a P/E of 12.68, very low debt-to-equity (0.03), and two high‑grade underground assets (Eagle River and Kiena).

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report)'s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$24.39 and traded as low as C$23.80. Wesdome Gold Mines shares last traded at C$24.21, with a volume of 527,529 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on WDO shares. Canaccord Genuity Group lowered shares of Wesdome Gold Mines from a "buy" rating to a "hold" rating and upped their target price for the stock from C$27.00 to C$28.00 in a research report on Monday, January 26th. Royal Bank Of Canada lifted their price target on Wesdome Gold Mines from C$25.00 to C$29.00 in a research note on Wednesday, December 10th. National Bank Financial lowered Wesdome Gold Mines from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from C$31.00 to C$28.00 in a research report on Wednesday, February 4th. Finally, TD Securities raised their price objective on Wesdome Gold Mines from C$25.00 to C$30.00 in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$26.86.

Wesdome Gold Mines Stock Performance

The company has a market cap of C$3.65 billion, a P/E ratio of 12.68 and a beta of 1.15. The company's fifty day moving average is C$24.39 and its 200 day moving average is C$22.34. The company has a current ratio of 4.79, a quick ratio of 0.37 and a debt-to-equity ratio of 0.03.

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.

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