Time to Reconsider Wesdome Gold Mines Ltd After Reaching 52-Week High?

 Time to Reconsider Wesdome Gold Mines Ltd After Reaching 52 Week High?

The stock of Wesdome Gold Mines Ltd (TSE:WDO) hit a new 52-week high and has $4.60 target or 55.00% above today’s $2.97 share price. The 8 months bullish chart indicates low risk for the $433.74M company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $4.60 price target is reached, the company will be worth $238.56 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 252,043 shares traded hands. Wesdome Gold Mines Ltd (TSE:WDO) has risen 76.51% since March 29, 2016 and is uptrending. It has outperformed by 73.98% the S&P500.

Wesdome Gold Mines Ltd (TSE:WDO) Ratings Coverage

Out of 4 analysts covering Wesdome Gold Mines Ltd (TSE:WDO), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $2 is the highest target while $1.50 is the lowest. The $1.76 average target is -40.74% below today’s ($2.97) stock price. Wesdome Gold Mines Ltd has been the topic of 8 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by National Bank Canada given on Monday, May 2. Dundee Securities reinitiated Wesdome Gold Mines Ltd (TSE:WDO) rating on Thursday, February 4. Dundee Securities has “Buy” rating and $1.70 price target. The rating was initiated by Clarus Securities with “Speculative Buy” on Wednesday, January 13. M Partners maintained the shares of WDO in a report on Tuesday, August 11 with “Buy” rating. The stock of Wesdome Gold Mines Ltd (TSE:WDO) has “Buy” rating given on Monday, November 30 by Salman Partners.

Another recent and important Wesdome Gold Mines Ltd (TSE:WDO) news was published by Business.Financialpost.com which published an article titled: “Wesdome Gold Mines stock soars on new gold discovery at shuttered Quebec mine” on August 25, 2016.

Wesdome Gold Mines Ltd. is engaged in gold mining operations. The company has a market cap of $433.74 million. The Firm is producing gold at the Eagle River Complex and open pit Mishi gold mines. It currently has negative earnings. The Company’s Eagle River Complex is located in Central Ontario, which includes the Eagle River Mine, the Mishi Mine and shared infrastructure, including the mineral processing plant.

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