Wesdome Gold Mines (TSE:WDO) Stock Price Passes Above 50-Day Moving Average of $10.93

Wesdome Gold Mines Ltd. (TSE:WDO) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$10.93 and traded as high as C$11.00. Wesdome Gold Mines shares last traded at C$10.90, with a volume of 290,470 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. TD Securities cut their price target on shares of Wesdome Gold Mines from C$13.00 to C$12.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Ventum Cap Mkts upgraded shares of Wesdome Gold Mines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 28th. Ventum Financial upgraded shares of Wesdome Gold Mines from a “neutral” rating to a “buy” rating and raised their target price for the company from C$9.65 to C$12.65 in a report on Tuesday, May 28th. National Bankshares raised their target price on shares of Wesdome Gold Mines from C$14.25 to C$15.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Finally, Canaccord Genuity Group raised their target price on shares of Wesdome Gold Mines from C$8.50 to C$11.75 in a report on Tuesday, April 23rd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$11.68.

Wesdome Gold Mines Price Performance

The company has a market capitalization of C$1.63 billion, a price-to-earnings ratio of 363.33 and a beta of 0.75. The company’s 50 day simple moving average is C$10.93 and its 200-day simple moving average is C$9.52. The company has a current ratio of 0.99, a quick ratio of 0.37 and a debt-to-equity ratio of 7.15.

Wesdome Gold Mines (TSE:WDO) last released its quarterly earnings results on Wednesday, May 8th. The company reported C$0.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of C$100.92 million for the quarter. On average, equities research analysts predict that Wesdome Gold Mines Ltd. will post 0.6333147 earnings per share for the current fiscal year.

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.