Wesdome Gold Mines (OTCMKTS:WDOFF) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Wesdome Gold Mines Ltd. (OTCMKTS:WDOFF)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.48 and traded as high as $20.2850. Wesdome Gold Mines shares last traded at $20.12, with a volume of 213,640 shares.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WDOFF shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Wesdome Gold Mines in a research report on Thursday, July 23rd. Canadian Imperial Bank of Commerce raised Wesdome Gold Mines from a “neutral” rating to an “outperform” rating in a research note on Friday, July 17th. Finally, National Bank Financial upgraded Wesdome Gold Mines from an “outperform” rating to an “outperform” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Wesdome Gold Mines Stock Up 4.0%

The firm’s fifty day moving average is $18.43 and its 200-day moving average is $18.51.

Wesdome Gold Mines Company Profile

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.