Wesdome Gold Mines (TSE:WDO) Stock Crosses Above 200 Day Moving Average – What’s Next?

Wesdome Gold Mines Ltd. (TSE:WDO) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$27.93 and traded as high as C$28.53. Wesdome Gold Mines shares last traded at C$28.46, with a volume of 970,573 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WDO. BMO Capital Markets lowered shares of Wesdome Gold Mines from an “outperform” rating to a “hold” rating and lifted their price objective for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. National Bank Financial boosted their target price on shares of Wesdome Gold Mines from C$34.50 to C$40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 19th. Canaccord Genuity Group downgraded shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and increased their target price for the company from C$30.00 to C$33.00 in a research report on Friday, October 23rd. Canadian Imperial Bank of Commerce increased their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a research report on Friday, August 21st. Finally, Stifel Nicolaus lowered shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and set a C$34.00 price target for the company. in a research note on Monday, October 19th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$34.50.

Wesdome Gold Mines Price Performance

The business’s 50 day moving average is C$32.32 and its two-hundred day moving average is C$27.93. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.37 and a current ratio of 7.23. The firm has a market capitalization of C$4.09 billion, a PE ratio of 10.27 and a beta of 1.29.

Wesdome Gold Mines (TSE:WDO) last posted its earnings results on Thursday, November 5th. The company reported C$0.62 earnings per share (EPS) for the quarter. Wesdome Gold Mines had a return on equity of 41.49% and a net margin of 38.01%. The firm had revenue of C$250.59 million for the quarter. Equities research analysts anticipate that Wesdome Gold Mines Ltd. will post 1.29 earnings per share for the current fiscal year.

Wesdome Gold Mines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a dividend of $0.0306 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%.

Insider Transactions at Wesdome Gold Mines

In other Wesdome Gold Mines news, Director Anthea Ingrid Bath sold 66,961 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of C$31.15, for a total value of C$2,085,835.15. Following the completion of the transaction, the director owned 130,128 shares in the company, valued at C$4,053,487.20. This trade represents a 33.98% decrease in their position. Company insiders own 0.17% of the company’s stock.

Wesdome Gold Mines Company Profile

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.