Wesdome Gold Mines (TSE:WDO) Shares Cross Above 50 Day Moving Average of $10.99

Wesdome Gold Mines Ltd. (TSE:WDO)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$10.99 and traded as high as C$11.35. Wesdome Gold Mines shares last traded at C$11.07, with a volume of 200,076 shares.

Analyst Upgrades and Downgrades

WDO has been the topic of several recent research reports. Eight Capital lifted their price target on shares of Wesdome Gold Mines from C$10.50 to C$12.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. TD Securities decreased their price target on shares of Wesdome Gold Mines from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. CIBC lifted their price target on shares of Wesdome Gold Mines from C$12.00 to C$14.00 in a research report on Monday, April 15th. Canaccord Genuity Group lifted their price target on shares of Wesdome Gold Mines from C$8.50 to C$11.75 in a research report on Tuesday, April 23rd. Finally, Ventum Financial upgraded shares of Wesdome Gold Mines from a “neutral” rating to a “buy” rating and lifted their price target for the stock from C$9.65 to C$12.65 in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$12.20.

Wesdome Gold Mines Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.37 and a debt-to-equity ratio of 7.15. The stock has a market capitalization of C$1.66 billion, a PE ratio of 369.00 and a beta of 0.75. The firm’s 50-day simple moving average is C$10.99 and its two-hundred day simple moving average is C$9.64.

Wesdome Gold Mines (TSE:WDO) last posted its quarterly earnings results on Wednesday, May 8th. The company reported C$0.07 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.01. Wesdome Gold Mines had a net margin of 1.36% and a return on equity of 1.13%. The business had revenue of C$100.92 million for the quarter. On average, equities research analysts expect that Wesdome Gold Mines Ltd. will post 0.6333147 earnings per share for the current fiscal year.

About Wesdome Gold Mines

Wesdome Gold Mines Ltd. mines, develops, and explores for gold and silver deposits in Canada. It holds interest in the Eagle River Mine in Ontario; and the Kiena Mine in Québec. The company was formerly known as River Gold Mines Ltd. and changed its name to Wesdome Gold Mines Ltd. Wesdome Gold Mines Ltd.