Wesdome Gold Mines (OTCMKTS:WDOFF) Share Price Passes Above 200 Day Moving Average – Should You Sell?

by · The Cerbat Gem

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF – Get Free Report)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.89 and traded as high as $25.52. Wesdome Gold Mines shares last traded at $23.3450, with a volume of 82,422 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Wesdome Gold Mines in a report on Friday, August 21st. BMO Capital Markets downgraded shares of Wesdome Gold Mines from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 18th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Wesdome Gold Mines in a research report on Thursday, July 23rd. Finally, National Bank Financial upgraded Wesdome Gold Mines from an “outperform” rating to an “outperform” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Get Our Latest Research Report on Wesdome Gold Mines

Wesdome Gold Mines Trading Up 1.6%

The business has a 50-day simple moving average of $22.20 and a 200 day simple moving average of $19.93.

Wesdome Gold Mines Company Profile

(Get Free Report)

Wesdome Gold Mines Ltd. is a publicly traded Canadian gold producer and explorer focused on its flagship Eagle River Complex in Ontario and the high‐grade Kiena gold complex in Quebec. The Eagle River Complex, situated near Wawa, Ontario, comprises an underground mine, the Mishi open‐pit deposit and a 3,200‐tonne‐per‐day milling facility that produces gold‐rich concentrates. In Val‐d’Or, Quebec, the Kiena property features an established decline and infrastructure supporting ongoing underground exploration at the Deep A Zone and evaluation of adjoining zones for potential resource expansion.

Since commencing production in 2008, Eagle River has delivered steady gold output through conventional milling and flotation circuits, while exploration programs at Kiena have continued to intersect high‐grade gold mineralization.

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