Wesdome Gold Mines (TSE:WDO) Shares Cross Above 50-Day Moving Average – Here’s Why

Posted by Oscar Bower on Jan 9th, 2025

Wesdome Gold Mines Ltd. (TSE:WDO – Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$12.56 and traded as high as C$13.31. Wesdome Gold Mines shares last traded at C$13.29, with a volume of 201,228 shares.

Analysts Set New Price Targets

Separately, Desjardins upgraded Wesdome Gold Mines to a “hold” rating in a research note on Thursday, October 31st. Two investment 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$15.29.

Check Out Our Latest Analysis on WDO

Wesdome Gold Mines Stock Performance

The business has a 50-day moving average price of C$12.57 and a 200-day moving average price of C$12.71. The company has a quick ratio of 0.37, a current ratio of 1.49 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of C$1.99 billion, a price-to-earnings ratio of 51.12 and a beta of 0.85.

Insider Buying and Selling at Wesdome Gold Mines

In other news, Director Anthea Ingrid Bath bought 4,250 shares of Wesdome Gold Mines stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of C$11.83 per share, for a total transaction of C$50,277.50. Also, Senior Officer Rajbir Gill purchased 2,213 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of C$11.65 per share, for a total transaction of C$25,781.45. 0.17% of the stock is currently owned by company insiders.

Wesdome Gold Mines Company Profile

(Get Free Report)

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.