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$17.92 and are currently trading at C$19.92, with a total volume of 792,245 shares.
• Wall Street analysts have mixed opinions on the stock, with one "Strong Buy," two "Buy," and three "Hold" ratings, leading to an average rating of "Moderate Buy" and a consensus target price of C$22.13.
• Insider trading activity was noted as Senior Officer Rajbir Gill sold 10,822 shares at an average price of C$18.56, indicating minimal insider ownership at 0.17%.

Wesdome Gold Mines Ltd. (TSE:WDO - Get Free Report)'s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$17.92 and traded as high as C$21.02. Wesdome Gold Mines shares last traded at C$19.92, with a volume of 792,245 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WDO. Stifel Canada cut shares of Wesdome Gold Mines from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 14th. Stifel Nicolaus cut shares of Wesdome Gold Mines from a "buy" rating to a "hold" rating and dropped their target price for the stock from C$24.00 to C$20.50 in a report on Friday, August 15th. Royal Bank Of Canada increased their target price on shares of Wesdome Gold Mines from C$19.00 to C$22.00 in a report on Wednesday, June 4th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$22.13.

Wesdome Gold Mines Trading Down 3.9%

The stock has a 50-day moving average of C$17.92 and a 200 day moving average of C$17.71. The company has a quick ratio of 0.37, a current ratio of 2.14 and a debt-to-equity ratio of 0.30. The stock has a market cap of C$3.01 billion, a PE ratio of 12.45 and a beta of 0.22.

Insider Buying and Selling at Wesdome Gold Mines

In related news, Senior Officer Rajbir Gill sold 10,822 shares of the firm's stock in a transaction on Monday, June 30th. The shares were sold at an average price of C$18.56, for a total transaction of C$200,856.32. 0.17% of the stock is owned by insiders.

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.

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