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

Wesdome Gold Mines Ltd. (TSE:WDO)’s stock price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$12.58 and traded as low as C$11.00. Wesdome Gold Mines shares last traded at C$11.08, with a volume of 477,715 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BMO Capital Markets upped their target price on Wesdome Gold Mines from C$14.00 to C$18.00 in a research note on Thursday, August 15th. Eight Capital raised their target price on shares of Wesdome Gold Mines from C$15.00 to C$16.00 in a research report on Thursday, August 15th. Ventum Financial upped their price target on shares of Wesdome Gold Mines from C$12.05 to C$15.00 in a research report on Thursday, August 29th. National Bankshares lifted their price target on shares of Wesdome Gold Mines from C$17.25 to C$17.50 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Desjardins upgraded Wesdome Gold Mines to a “hold” rating in a report on Thursday, October 31st. Two equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$15.29.

Wesdome Gold Mines Trading Down 1.1 %

The stock has a market capitalization of C$1.66 billion, a price-to-earnings ratio of 42.62 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.49 and a quick ratio of 0.37. The business’s 50-day simple moving average is C$12.56 and its two-hundred day simple moving average is C$12.22.

Wesdome Gold Mines (TSE:WDO) last announced its quarterly earnings results on Wednesday, August 14th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.14 by C$0.05. Wesdome Gold Mines had a return on equity of 8.68% and a net margin of 9.74%. The firm had revenue of C$127.80 million during the quarter. On average, research analysts anticipate that Wesdome Gold Mines Ltd. will post 1.293456 earnings per share for the current fiscal year.

Insider Activity at Wesdome Gold Mines

In related news, Senior Officer Rajbir Gill sold 3,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$12.47, for a total value of C$43,645.00. Also, Senior Officer Frederic Mercier-Langevin sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$13.37, for a total value of C$66,850.00. In the last three months, insiders sold 17,991 shares of company stock worth $235,103. Corporate insiders own 0.17% of the company’s stock.

Wesdome Gold Mines Company Profile

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.