Westgold Resources (WGX) AI Stock Analysis

• Market Cap: AU$7.27B
• Dividend Yield: 0.46%
• Average Volume (3M): 2.99M
• Price to Earnings (P/E): 199.7
• Beta (1Y): 1.09
• Revenue Growth: 89.86%
• EPS Growth: -81.65%
• Country: AU
• Employees: 1,071
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): N/A
• Shares Outstanding: 944,831,540
• 10 Day Avg. Volume: 3,461,079
• 30 Day Avg. Volume: 2,994,074
• PEG Ratio: -0.93
• Price to Book (P/B): 1.33
• Price to Sales (P/S): 1.92
• P/FCF Ratio: 41.26
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$8.43
• Price Target Upside: 14.58% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: AU$8.00 ▲(8.70% Upside)

The score is driven primarily by strong financial performance (notably cash flow strength, revenue growth, and low leverage). This is tempered by overbought technical conditions and a very high P/E valuation, which together increase near-term risk and reduce the margin of safety.

Positive Factors

Cash generation

Extremely strong free cash flow growth and a high operating-cash-to-net-income ratio indicate the company converts profits into cash effectively. That durable cash generation supports reinvestment in mines, sustaining capital, and flexibility to weather commodity cycles over months to years.

Low financial leverage

A very low debt-to-equity ratio and healthy equity backing signal conservative capital structure. This reduces refinancing and interest-rate risk, preserves borrowing capacity for development or exploration, and provides resilience through commodity price or operational volatility.

Operational margins & revenue

Robust revenue growth and strong EBITDA margins point to efficient mining and processing operations with scalable cost structures. Durable operational profitability supports funding of sustaining capex and exploration, helping maintain production and reserve conversion over the medium term.

Negative Factors

Weak net profitability

A very low net margin despite solid top-line growth suggests non-operational costs, taxes, or one-off items erode shareholder returns. Persistently thin net profitability can limit retained earnings, dividend capacity, and ROE improvement over multiple reporting periods.

Low return on equity

A sub-2% ROE implies the company is generating minimal returns on shareholder capital. Over time this can pressure investor returns and indicate inefficient capital allocation or margin translation into earnings, constraining long-term value creation.

Earnings volatility

A steep negative EPS growth rate signals volatile or declining reported earnings despite revenue gains. Persistent EPS volatility hampers earnings predictability, complicates reinvestment planning, and may reflect exposure to one-offs, commodity swings, or non-cash items affecting long-term performance.

Westgold Resources Business Overview & Revenue Model

Company Description

Westgold Resources Limited engages in the exploration, operation, development, mining, and treatment of gold assets primarily in Western Australia. The company's assets include Bryah Operations, Murchison Operations, Meekatharra Gold Operations, and Cue Gold Operations that comprise approximately 350 mining titles covering 1,300 square kilometers in the Central Murchison region. It also provides contract mining services. Westgold Resources Limited is based in Perth, Australia.

How the Company Makes Money

Westgold Resources generates revenue primarily through the sale of gold. The company extracts gold from its mining operations and processes it to produce gold doré, which is then sold to refineries. Key revenue streams include gold production from its various mining assets, as well as potential revenue from by-products such as copper and silver. Additionally, Westgold may benefit from strategic partnerships with other mining companies and entities that provide access to technology and resources, enhancing operational efficiency and reducing costs. Fluctuations in gold prices also significantly impact the company's earnings, as higher gold prices can lead to increased revenues from sales.

Westgold Resources Financial Statement Overview

Summary

Strong overall fundamentals supported by robust revenue growth (39.19%) and very strong cash generation (free cash flow growth 3816.03%, operating cash flow to net income 10.27) alongside low leverage (debt-to-equity 0.075). The main constraint is weak profitability at the bottom line (net margin 2.56%, ROE 1.76%).

Income Statement

Westgold Resources shows strong revenue growth with a 39.19% increase in the latest year, indicating robust sales performance. The gross profit margin improved to 17.25%, reflecting better cost management. However, the net profit margin decreased to 2.56%, suggesting challenges in controlling expenses or other operational inefficiencies. The EBIT and EBITDA margins are healthy at 16.71% and 36.62%, respectively, indicating solid operational performance.

Balance Sheet

The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.075, indicating prudent financial leverage. The return on equity is modest at 1.76%, suggesting room for improvement in generating returns for shareholders. The equity ratio stands at 61.45%, highlighting a stable financial structure with significant equity backing.

Cash Flow

Westgold Resources demonstrates impressive cash flow performance with a significant free cash flow growth rate of 3816.03%, indicating strong cash generation capabilities. The operating cash flow to net income ratio is robust at 10.27, reflecting efficient cash conversion. The free cash flow to net income ratio is 1.83, suggesting effective cash management and potential for reinvestment or debt reduction.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.36B	1.36B	716.47M	654.37M	647.58M	571.17M
Gross Profit	234.75M	234.75M	156.98M	21.65M	25.87M	114.99M
EBITDA	498.15M	498.15M	279.25M	170.22M	34.49M	252.37M
Net Income	34.75M	34.75M	95.23M	10.00M	-111.12M	76.75M
Balance Sheet
Total Assets	3.21B	3.21B	1.05B	854.94M	869.41M	928.24M
Cash, Cash Equivalents and Short-Term Investments	240.25M	240.25M	236.04M	176.41M	182.70M	150.68M
Total Debt	147.26M	147.26M	54.61M	27.49M	42.96M	45.08M
Total Liabilities	1.24B	1.24B	360.70M	256.60M	281.64M	320.88M
Stockholders Equity	1.97B	1.97B	691.80M	598.34M	587.77M	607.36M
Cash Flow
Free Cash Flow	63.45M	63.44M	78.65M	8.89M	-26.61M	20.14M
Operating Cash Flow	357.04M	357.04M	351.74M	168.43M	179.86M	249.14M
Investing Cash Flow	-352.47M	-352.47M	-265.64M	-158.07M	-201.01M	-213.81M
Financing Cash Flow	-112.00K	-112.00K	-26.47M	-16.65M	53.17M	-22.22M

Westgold Resources Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.36
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:WGX, the sentiment is Positive. The current price of 7.36 is above the 20-day moving average (MA) of 6.91, above the 50-day MA of 6.36, and above the 200-day MA of 4.30, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 60.67 is Neutral, neither overbought nor oversold. The STOCH value of 78.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:WGX.

Westgold Resources Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RMS	81 Outperform	$9.57B	12.09	28.58%	1.92%	36.34%	110.55%
WAF	73 Outperform	$4.39B	13.47	26.84%	―	23.87%	92.57%
VAU	72 Outperform	AU$6.45B	27.59	13.09%	―	130.98%	―
WGX	69 Neutral	AU$7.27B	199.74	2.43%	0.46%	89.86%	-81.65%
EMR	68 Neutral	AU$5.21B	59.97	14.25%	―	17.59%	0.98%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Westgold Resources Corporate Events

Westgold Issues Q2 FY26 Investor Update With Strong Emphasis on Disclaimers

Westgold Resources has released an investor presentation dated 21 January 2026 outlining its Q2 FY26 quarterly results, while emphasising that the document is for informational purposes only and does not constitute an offer, solicitation or investment advice. The company underscores extensive legal disclaimers around accuracy, completeness and liability, highlights the presence of forward‑looking statements subject to commodity price, regulatory and operational risks, and directs stakeholders to its continuous disclosure filings in Australia and Canada, signalling a focus on regulatory compliance and prudent communication with investors.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Doubles Quarterly Cash Build on Record Gold Output and Price

Westgold Resources reported a record quarter to 31 December 2025, with group gold production rising 33% quarter on quarter to 111,418 ounces at an all-in sustaining cost of $3,500/oz, supported by the restart of reef mining at Great Fingall and increased purchases of high-grade oxide ore. Strong production and a record achieved gold price of A$6,356/oz drove gold sales of 115,200 ounces and revenue of A$732 million, effectively doubling underlying quarterly cash build to a record $365 million and lifting closing cash, bullion and liquid investments to $654 million, while the company remained debt free and unhedged. Portfolio optimisation continued through the $64.6 million divestment of Mt Henry-Selene and the planned demerger of the Reedy’s and Comet assets into newly listed Valiant Gold Limited, as Westgold maintained FY26 guidance and advanced key growth projects aimed at structurally lowering costs and unlocking additional value for shareholders.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Sets Investor Webcast to Present December Quarter Results

Westgold Resources has announced that it will lodge its December 2025 quarterly report with the ASX on 21 January 2026 and will present the results via an investor update webcast on the same day. The webcast, to be led by Managing Director and CEO Wayne Bramwell alongside the CFO and COO, will include a presentation of quarterly performance followed by a Q&A session, underscoring the company’s efforts to maintain transparency and engagement with investors and analysts around its latest operational and financial results.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.50 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Alicanto Minerals Acquires Mt Henry Gold Project, Plans Aggressive Expansion

Alicanto Minerals Limited, operating in the gold mining industry, has announced the acquisition of the Mt Henry Gold Project from Westgold Resources Limited. The project, located in the prolific Norseman–Kalgoorlie greenstone belt in Western Australia, offers a substantial mineral resource of 0.9 million ounces and significant growth potential due to its open mineralization and the current high gold prices. Alicanto plans an aggressive 50,000-meter drilling campaign to expand the resource and explore new targets, with Westgold becoming a 19.9% shareholder, reflecting their confidence in the project’s potential.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.80 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Divests Mt Henry-Selene Gold Project for $64.6M

Westgold Resources Limited has entered into a binding Asset Sale Agreement with Alicanto Minerals Limited to divest the Mt Henry-Selene Gold Project for $64.6 million. This divestment is part of Westgold’s strategy to focus on its larger, core operating assets, providing shareholders with a mix of cash and strategic shareholding in Alicanto. The transaction includes deferred considerations tied to specific project milestones, potentially unlocking further value for stakeholders.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.80 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources to Spin-Off Non-Core Assets to Valiant Gold

Westgold Resources Limited is set to demerge its non-core assets, the Reedy and Comet Projects, to form a new standalone company, Valiant Gold Limited, which will be listed on the ASX. This strategic move aims to unlock value from smaller assets and provide a fast track to cash flow through an Ore Purchase Agreement with Westgold, allowing Valiant to focus on exploration and development while Westgold retains a significant equity stake, ensuring continued benefit from future successes.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.80 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Revitalizes Historic Great Fingall Mine

Westgold Resources Limited has recommenced mining at the historic Great Fingall Mine near Cue, Western Australia, marking a significant milestone in its operations. The revitalization of this iconic mine, which historically produced over 1.2 million ounces of gold, is expected to enhance Westgold’s production capacity by contributing high-grade ore to its Cue processing hub, alongside the output from the Big Bell mine. This strategic move is set to strengthen the company’s operational capabilities and create lasting value for shareholders, with an anticipated steady-state production by 2027.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$8.00 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Updates on Share Buy-Back Program

Westgold Resources Limited has announced an update regarding its ongoing share buy-back program. As of December 10, 2025, the company has repurchased a total of 77,901 ordinary fully paid securities, with 52,901 bought back on the previous day alone. This buy-back initiative is part of Westgold’s strategy to manage its capital structure and potentially enhance shareholder value. The announcement reflects the company’s active approach in maintaining its market position and optimizing its financial operations.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$8.00 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Announces Director’s Interest Change

Westgold Resources Limited has announced a change in the director’s interest notice, specifically regarding Wayne Bramwell’s indirect interest through his spouse, Lisa Michelle Johnston. The change involves the issuance of 500,000 MD Performance Rights expiring on June 30, 2030, as part of the company’s Employee Awards Plan, which was approved at the Annual General Meeting. This move reflects the company’s ongoing efforts to align management incentives with shareholder interests and could potentially impact the company’s future performance and stakeholder confidence.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.40 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Issues New Performance Rights as Part of Employee Incentive Scheme

Westgold Resources Limited announced the issuance of unquoted equity securities in the form of performance rights, totaling 1,034,903 units, which are set to expire on June 30, 2030. This move is part of an employee incentive scheme and reflects the company’s strategic efforts to enhance employee engagement and align their interests with the company’s long-term goals.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.40 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources AGM Results: Key Resolutions Passed

At its Annual General Meeting, Westgold Resources Limited announced that all resolutions were carried by a poll, except for Resolution 7 regarding potential benefits to Mr. Wayne Bramwell, which was not passed. This outcome reflects shareholder sentiment and could impact the company’s governance and compensation strategies.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$6.50 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Releases Informational Presentation

Westgold Resources Limited has released a presentation dated November 21, 2025, which serves as an informational document rather than an offer for securities. The presentation highlights the company’s current activities and market conditions, emphasizing that it does not constitute investment advice. Stakeholders are advised to independently assess the information, as it includes forward-looking statements that are subject to various risks and uncertainties.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$6.50 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Director Increases Shareholding

Westgold Resources Limited announced a change in the director’s interest, with Hon. Cheryl Edwardes AO acquiring 3,992 fully paid ordinary shares through an on-market trade, increasing her total holdings to 22,005 shares. This transaction, executed at $5.00 per share, reflects a strategic move within the company’s leadership, potentially impacting stakeholder confidence and market perception of the company’s governance and future direction.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$6.60 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Announces Daily Buy-Back Update

Westgold Resources Limited has announced a daily update regarding its on-market buy-back program, with a total of 25,000 ordinary fully paid securities bought back on the previous day. This buy-back initiative is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.40 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources Relocates Principal Office to Enhance Operations

Westgold Resources Limited has announced a change in its registered office and principal place of business to Level 13, 200 St Georges Terrace, Perth, Western Australia. This strategic move is part of the company’s ongoing efforts to streamline operations and enhance its corporate presence, potentially impacting its operational efficiency and stakeholder engagement.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.40 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.

Westgold Resources to Present September 2025 Quarterly Report

Westgold Resources Limited announced that it will release its September 2025 Quarterly Report on October 28, 2025. The company’s executive team, including the Managing Director & CEO, CFO, and COO, will present the results via a webcast, followed by a Q&A session, providing stakeholders with insights into the company’s recent performance and future outlook.

The most recent analyst rating on (AU:WGX) stock is a Buy with a A$7.40 price target. To see the full list of analyst forecasts on Westgold Resources stock, see the AU:WGX Stock Forecast page.