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: 0.13
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

$6.31

03 Sep
2026

0.210

OPEN

$6.27

3.44%

HIGH

$6.31

5,985,681

LOW

$6.18

TARGET
$7.70 22.0% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
WGX: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 47.0 83.1 xxx
DPS (cps) xxx 10.0 15.3 xxx
EPS Growth xxx 100.0% 77.0% xxx
DPS Growth xxx 100.0% 53.3% xxx
PE Ratio xxx N/A 7.8 xxx
Dividend Yield xxx N/A 2.4% xxx
Div Pay Ratio(%) xxx 21.3% 18.4% xxx

Dividend yield today if purchased 3 years ago: 6.37%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.54

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 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx47.0
DPS All xxxxxxxxxxxxxxx10.0
Sales/Revenue xxxxxxxxxxxxxxx2,440.9 M
Book Value Per Share xxxxxxxxxxxxxxx252.0
Net Operating Cash Flow xxxxxxxxxxxxxxx964.3 M
Net Profit Margin xxxxxxxxxxxxxxx18.17 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx20.45 %
Return on Invested Capital xxxxxxxxxxxxxxx19.85 %
Return on Assets xxxxxxxxxxxxxxx12.62 %
Return on Equity xxxxxxxxxxxxxxx20.45 %
Return on Total Capital xxxxxxxxxxxxxxx32.64 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx555.3 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 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx55 M
Long Term Debt xxxxxxxxxxxxxxx84 M
Total Debt xxxxxxxxxxxxxxx139 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx735 M
Price To Book Value xxxxxxxxxxxxxxx1.87

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx425.7 M
Capex % of Sales xxxxxxxxxxxxxxx17.44 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,565 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx109 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx168 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

26/08/2026

1

Buy

$8.25

30.74%

Westgold Resources has outlined potential expansions across three of its four mills, which UBS believes provide a pathway to more than 650kozpa gold production by FY30, potentially making Westgold the fifth-largest ASX-listed gold producer.

The broker estimates combined milling capacity could reach 9.5Mtpa across the Murchison and Southern Goldfields hubs, with FY30 group AISC of just over $3,200/oz and production above the top end of consensus expectations.

Including forecasts of $1.8bn of growth capex through FY30, and around $1.6bn to develop the mining fronts required to feed the expanded mills, the analyst still forecasts FCF throughout, with FCF yields rising from 4% in peak-capex FY28 to 16% in FY30.

Key developments include Murchison capacity increasing to a potential 5.5Mtpa and a proposed Southern Goldfields expansion to 4Mtpa, including development of Fletcher from the September quarter of 2028.

UBS retains its Buy rating and raises the target price by 6% to $8.25 from $7.75.

FORECAST
UBS forecasts a full year FY27 dividend of 17.00 cents and EPS of 90.00 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

01/09/2026

1

Buy

$7.30

15.69%

Canaccord Genuity maintains a Buy rating for Westgold Resources with its target price increased to $7.30 from $7.20 following the release of FY26 results.

The producer reported underlying EBITDA of $1,104m and an underlying NPAT of $480m, alongside a fully franked final dividend declaration of 10c per share.

A revised capital management policy guarantees a minimum annual shareholder return of 3c per share, complemented by an approved on-market share buy-back of up to $50m for FY27.

The analyst views the balance sheet as well-positioned for organic growth ambitions, supported by $939m in combined cash, bullion, and liquid investments with zero corporate debt.

Valuation revisions incorporate a 3% increase to FY27 group all-in sustaining cost forecasts and an 8% rise in expected growth capital expenditure.
Access Extra Coverage Research History >

WGX STOCK CHART

FNArena News on WGX

1
Rudi’s View: Resources, Healthcare & Best Buys

Sep 03 2026 - Rudi's View
2
Australian Broker Call *Extra* Edition – Sep 01, 2026

Sep 01 2026 - Daily Market Reports
3
FNArena Corporate Results Monitor – 31-08-2026

Aug 31 2026 - Australia
4
Australian Broker Call *Extra* Edition – Jul 30, 2026

Jul 30 2026 - Daily Market Reports
5
Rudi’s View: The August Earnings Test Is Approaching

Jul 29 2026 - Rudi's View

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