Wesdome Gold Mines (TSE:WDO) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Shares of Wesdome Gold Mines Ltd. (TSE:WDO) 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 traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. National Bankshares increased their target price on Wesdome Gold Mines from C$17.25 to C$17.50 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Desjardins raised Wesdome Gold Mines to a “hold” rating in a research note on Thursday, October 31st. Ventum Financial increased their target price on Wesdome Gold Mines from C$12.05 to C$15.00 in a research note on Thursday, August 29th. BMO Capital Markets increased their target price on Wesdome Gold Mines from C$14.00 to C$18.00 in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group increased their target price on Wesdome Gold Mines from C$11.75 to C$14.00 in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$15.29.

Wesdome Gold Mines Trading Down 1.1 %

The firm has a market cap 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 quick ratio of 0.37 and a current ratio of 1.49. The business has a fifty day moving average of C$12.58 and a two-hundred day moving average of C$12.22.

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

Insiders Place Their Bets

In other news, Senior Officer Frederic Mercier-Langevin sold 3,100 shares of Wesdome Gold Mines stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$12.55, for a total value of C$38,905.00. Also, Senior Officer Rajbir Gill sold 3,500 shares of Wesdome Gold Mines stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$12.47, for a total value of C$43,645.00. Over the last 90 days, insiders sold 17,991 shares of company stock valued at $235,103. Corporate insiders own 0.17% of the company’s stock.

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.