WESTGOLD RESOURCES LIMITED (WGX)
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WGX

WGX - WESTGOLD RESOURCES LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.29
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

Westgold Resources is a dual ASX/TSX-listed Australian gold producer operating exclusively in Western Australia, enlarged by its 2024 merger with Karora Resources.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$4.74

23 Jul
2026

-0.110

OPEN

$4.87

-2.27%

HIGH

$4.96

4,767,806

LOW

$4.70

TARGET
$7.80 64.6% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
WGX: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 3.9 66.9 xxx
DPS (cps) xxx 3.0 8.0 xxx
EPS Growth xxx - 80.9% 100.0% xxx
DPS Growth xxx 33.3% 100.0% xxx
PE Ratio xxx N/A 6.9 xxx
Dividend Yield xxx N/A 1.7% xxx
Div Pay Ratio(%) xxx 77.9% 12.0% xxx

Dividend yield today if purchased 3 years ago: 1.86%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.65

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 11/09 - (franking ex-div 3.00c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx3.9
DPS All xxxxxxxxxxxxxxx3.0
Sales/Revenue xxxxxxxxxxxxxxx1,360.3 M
Book Value Per Share xxxxxxxxxxxxxxx208.8
Net Operating Cash Flow xxxxxxxxxxxxxxx357.0 M
Net Profit Margin xxxxxxxxxxxxxxx2.55 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx2.61 %
Return on Invested Capital xxxxxxxxxxxxxxx2.54 %
Return on Assets xxxxxxxxxxxxxxx1.62 %
Return on Equity xxxxxxxxxxxxxxx2.61 %
Return on Total Capital xxxxxxxxxxxxxxx12.24 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx100.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx100 M
Long Term Debt xxxxxxxxxxxxxxx47 M
Total Debt xxxxxxxxxxxxxxx147 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx240 M
Price To Book Value xxxxxxxxxxxxxxx1.37

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx293.6 M
Capex % of Sales xxxxxxxxxxxxxxx21.58 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,131 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx54 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx46 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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UBS

23/07/2026

1

Buy

$7.75

63.50%

UBS assesses a mixed June quarter for Westgold Resources. Group production exceeded the broker's expectation, driven by stronger-than-forecast output at the Murchison operations, although higher purchased ore volumes diluted margins.

Production at Beta Hunt missed the analysts' forecasts due to ventilation issues restricting access to higher-grade ore, prompting UBS to lower its production and earnings forecasts for FY27 and FY28. Ongoing attractive free cash flow (FCF) generation is highlighted.

Updated FY27 guidance and a revised three-year outlook are expected with the company's August results. UBS continues to see attractive free cash flow generation.

Target falls by -50c to $7.75. Buy rating maintained.

FORECAST
UBS forecasts a full year FY26 dividend of 3.00 cents and EPS of 63.00 cents.
UBS forecasts a full year FY27 dividend of 15.00 cents and EPS of 83.00 cents.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

25/07/2026

1

Buy

$7.20

51.90%

Canaccord Genuity maintains a Buy rating for Westgold Resources with its target price lowered to $7.20 from $7.25 following the release of the June quarter operational report.

Group gold production reached 99koz at an all-in sustaining cost of $3,220/oz including ore purchase agreement expenses, matching consensus expectations on strong Murchison output.

The Bluebird underground mine exceeded forecast run rates while operations at Beta Hunt fell slightly short of projections due to deferred toll treatment parcels, though ventilation upgrades are anticipated to support a 2Mtpa run rate by the December 2026 quarter.

Cash and bullion reserves expanded by $75m to reach $779m, underpinning total available liquidity of $1.54bn.

The analyst revised FY27 production projections to 403koz at an all-in sustaining cost of $3,148/oz, resulting in a 1% decrease in forecast underlying free cash flow to $398m.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 7.00 cents and EPS of 51.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 7.00 cents and EPS of 59.00 cents.
Access Extra Coverage Research History >

WGX STOCK CHART

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