Wesdome Gold Mines (WDO) AI Stock Analysis

• Market Cap: C$3.28B
• Dividend Yield: N/A
• Average Volume (3M): 941.87K
• Price to Earnings (P/E): 9.8
• Beta (1Y): 2.01
• Revenue Growth: 69.33%
• EPS Growth: 253.46%
• Country: CA
• Employees: 301
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.79
• Shares Outstanding: 150,389,950
• 10 Day Avg. Volume: 742,794
• 30 Day Avg. Volume: 941,870
• PEG Ratio: 0.06
• Price to Book (P/B): 3.65
• Price to Sales (P/S): 3.74
• P/FCF Ratio: 12.34
• 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: C$29.90
• Price Target Upside: 37.22% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 3.73
• Revenue Forecast (FY): C$1.23B

• Rating: 81 Outperform
• Price Target: C$25.00 ▲(14.73% Upside)
• Action: Reiterated Date: 03/13/26
• Date: Action: Reiterated 03/13/26

The score is driven primarily by strong financial performance (high margins, strong cash generation, and very low leverage). The earnings call supports the outlook with strong results and confidence in guidance, partially offset by Kiena execution and cost risks. Technicals are neutral-to-mildly constructive, and valuation is supported by a low P/E.

Positive Factors

Strong cash generation

Sustained high operating and free cash flow in 2024–2025 provides durable capacity to fund sustaining and growth capital, repay or avoid debt, and support exploration or strategic projects. Over 2–6 months this bolsters financial resilience and the ability to absorb commodity cycles.

Conservative balance sheet

Very low leverage and a materially stronger equity base give the company structural financial flexibility to fund operations, capital projects, or exploration without refinancing stress. This reduces solvency risk and preserves optionality across commodity cycles.

High-quality Eagle River asset and exploration upside

A lower-cost, high-output Eagle River materially strengthens long-term cash margins and production reliability; coupled with reported positive drilling and exploration potential, the company has a durable operational base and pipeline to sustain or grow ounces over time.

Negative Factors

Kiena execution and cost pressures

Persistent execution issues and much higher unit costs at Kiena weaken consolidated margin durability and create structural downside to medium‑term production targets. Continued underperformance could force higher sustaining spend or capital reallocation.

High labor turnover and contractor reliance

Reliance on contractors and elevated turnover raise recurring operational risk: higher unit costs, training and productivity drag, and greater sensitivity to contractor markets. Over months this can erode margins and complicate reliable production scheduling.

Pronounced earnings and cash flow cyclicality

Historic swings in profitability and cash flow reflect commodity price and grade sensitivity inherent to gold producers. This structural volatility complicates multi‑period planning and can materially affect returns and reinvestment capacity despite current strong results.

Wesdome Gold Mines Business Overview & Revenue Model

Company Description

Wesdome Gold Mines Ltd. engages in the exploration, extraction, processing, and reclamation of gold in Canada. It principally produces gold in the form of doré bars, as well as silver as a by-product. The company's properties include the Eagle River Complex that consists of the Eagle River Mine, the Mishi Mine, and the Eagle River Mill located in Wawa, Ontario; and the Kiena Mine Complex, which includes the Kiena Mine concession and Kiena Mill situated in Val-d'Or, Québec. Wesdome Gold Mines Ltd. is based in Toronto, Canada.

How the Company Makes Money

Wesdome makes money primarily by producing and selling gold from its mining operations. The company extracts ore from underground deposits, processes it to recover gold, and sells the resulting gold product (commonly doré bars) to third-party purchasers/refiners; revenue is largely a function of ounces of gold sold and the prevailing gold price, net of refining and selling costs and any applicable treatment terms. Key revenue drivers therefore include: (1) production volume (mine output and processed grades/recoveries), (2) realized gold prices (market prices at the time of sale and any provisional pricing terms), and (3) operating cost performance (mining, milling, and site costs) which affects margins rather than top-line revenue. Additional, smaller or less frequent sources of income can include the sale of by-products or incidental metals, and gains or losses from commodity risk management/derivatives, but specific amounts or materiality are not available here and are therefore null. Significant partnerships are not available here and are therefore null.

Wesdome Gold Mines Financial Statement Overview

Summary

Strong 2024–2025 rebound with very high 2025 profitability (gross ~60%, EBIT ~56%, net ~38%), robust operating cash flow (~455M) and free cash flow (~277M), and a very conservative balance sheet (debt-to-equity near zero). Main constraint is pronounced cyclicality/volatility, with swings from profits (2020–2021) to losses (2022–2023) before rebounding.

Income Statement

Profitability improved sharply versus the loss-making 2022–2023 period, with 2025 showing very strong margins (gross ~60%, EBIT ~56%, net ~38%) and solid revenue growth (~13%). The business has also scaled meaningfully since 2020 (revenue up from ~215M to ~914M). Key weakness is volatility: earnings and margins swung from strong profits (2020–2021) to losses (2022–2023) before rebounding, which is consistent with a higher-cyclicality gold producer profile.

Balance Sheet

The balance sheet is conservatively positioned with extremely low leverage in the last two years (debt-to-equity near zero in 2024–2025) and a much stronger equity base (equity rising to ~937M in 2025 from ~427M in 2023). Returns on equity are currently very strong (~37% in 2025), reflecting the earnings rebound. The main risk is less about solvency and more about cycle sensitivity—historically, profitability (and therefore equity returns) has fluctuated materially.

Cash Flow

Cash generation strengthened significantly in 2024–2025, with operating cash flow rising to ~455M and free cash flow to ~277M in 2025, alongside strong free cash flow growth (~46%). Cash conversion is decent but not perfect: free cash flow is ~61% of net income in 2025 (and ~50% in 2024), implying meaningful reinvestment and/or working-capital swings. A notable weakness is the prior cash flow volatility, including negative free cash flow in 2021–2022 and minimal free cash flow in 2023.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	914.33M	558.18M	333.17M	265.48M	262.91M
Gross Profit	546.83M	241.86M	37.75M	51.11M	117.29M
EBITDA	598.24M	307.74M	93.63M	46.58M	218.37M
Net Income	349.50M	135.47M	-6.19M	-14.71M	131.29M
Balance Sheet
Total Assets	1.15B	746.65M	618.96M	619.13M	553.72M
Cash, Cash Equivalents and Short-Term Investments	353.87M	123.10M	41.37M	33.19M	56.76M
Total Debt	3.40M	881.00K	42.46M	63.98M	14.57M
Total Liabilities	210.01M	175.84M	191.66M	220.61M	158.54M
Stockholders Equity	936.97M	570.82M	427.30M	398.52M	395.18M
Cash Flow
Free Cash Flow	277.17M	121.50M	319.00K	-80.76M	-12.51M
Operating Cash Flow	455.13M	240.97M	101.35M	65.21M	130.96M
Investing Cash Flow	-210.56M	-119.31M	-98.59M	-146.22M	-132.51M
Financing Cash Flow	-13.80M	-39.93M	5.42M	57.44M	-5.16M

Wesdome Gold Mines Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.79
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WDO, the sentiment is Negative. The current price of 21.79 is below the 20-day moving average (MA) of 24.77, below the 50-day MA of 24.47, and above the 200-day MA of 21.19, indicating a neutral trend. The MACD of -0.41 indicates Positive momentum. The RSI at 36.77 is Neutral, neither overbought nor oversold. The STOCH value of 19.68 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:WDO.

Wesdome Gold Mines Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WDO	81 Outperform	C$3.28B	9.79	41.65%	―	69.33%	253.46%
KNT	80 Outperform	C$5.01B	14.52	46.21%	―	81.13%	234.33%
SSRM	74 Outperform	$6.40B	11.03	12.03%	―	33.74%	―
TXG	69 Neutral	C$5.22B	10.24	20.98%	―	5.33%	143.67%
CG	67 Neutral	C$4.34B	4.96	31.90%	1.36%	3.93%	247.84%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
IAU	46 Neutral	C$1.46B	-6.94	-48.77%	―	70.93%	37.37%

Wesdome Gold Mines Corporate Events

Wesdome Strengthens Leadership With New Senior HR Executive

Wesdome Gold Mines has appointed Christine Barwell as Senior Vice President, Human Resources, effective March 9, 2026, as the company sharpens its people strategy to support future growth. Interim Vice President Kim Humphreys will remain with the miner on a consulting basis for special projects, ensuring continuity in the human resources function.

Barwell brings extensive experience from senior HR roles at Li-Cycle Corporation and Alamos Gold Inc., where she led workforce strategy, organizational design and culture transformation in growth environments. Her appointment signals Wesdome’s focus on strengthening talent infrastructure and organizational capabilities as it advances its goal of building a scaled, value-driven mid-tier gold producer.

The most recent analyst rating on (TSE:WDO) stock is a Buy with a C$32.00 price target. To see the full list of analyst forecasts on Wesdome Gold Mines stock, see the TSE:WDO Stock Forecast page.

Wesdome Fast-Tracks Kiena’s Presqu’île Zone After Securing Key Approvals

Wesdome Gold Mines has obtained an updated Certificate of Authorization and a mining lease for the Presqu’île Zone, a near-surface deposit with ramp access at its Kiena Mine in Val-d’Or, Québec, allowing production from the zone to commence earlier than the 2026 schedule outlined in its mine plans. The company expects the Presqu’île Zone, once fully ramped up, to deliver an additional 250 to 400 tonnes of ore per day to the Kiena mill, supporting its 2026 production guidance and advancing its “fill-the-mill” strategy, which could strengthen operational performance and reinforce Wesdome’s positioning as it works toward mid-tier gold producer status.

The most recent analyst rating on (TSE:WDO) stock is a Buy with a C$28.00 price target. To see the full list of analyst forecasts on Wesdome Gold Mines stock, see the TSE:WDO Stock Forecast page.

Wesdome Posts Record Gold Output and Sets Higher 2026 Production Targets

Wesdome Gold Mines reported record annual gold production of 185,575 ounces in 2025, up from 172,034 ounces in 2024, driven by higher output at its Eagle River and Kiena operations, while also nearly tripling its cash balance to more than $350 million on strong free cash flow. For 2026, the company is guiding consolidated production of 180,000 to 205,000 ounces, underpinned by infrastructure upgrades at Eagle River, expanded mining areas and a second portal at Kiena, and a $55 million exploration program aimed at unlocking long-term growth, all while targeting disciplined costs, significant free cash flow generation, and continued share buybacks to enhance shareholder value.

The most recent analyst rating on (TSE:WDO) stock is a Buy with a C$30.00 price target. To see the full list of analyst forecasts on Wesdome Gold Mines stock, see the TSE:WDO Stock Forecast page.

Wesdome Gold Mines Names Interim COO as Belleau Departs

Wesdome Gold Mines has announced that Chief Operating Officer Guy Belleau will leave the company on January 30, 2026, with seasoned mining executive Tyler Mitchelson stepping in as interim COO. Management highlighted Mitchelson’s extensive operational and leadership experience across major mining companies, positioning him to support effective execution and sustainable growth as Wesdome advances its production and exploration objectives.

The most recent analyst rating on (TSE:WDO) stock is a Buy with a C$30.00 price target. To see the full list of analyst forecasts on Wesdome Gold Mines stock, see the TSE:WDO Stock Forecast page.

Wesdome Gold Mines Adds Veteran Finance Executive Faheem Tejani as Independent Director and Audit Chair

Wesdome Gold Mines has appointed veteran finance executive Faheem Tejani to its board of directors as an independent director and chair of the audit committee, effective December 31, 2025, bringing the board to eight members, seven of whom are independent. Tejani’s more than 25 years of experience in finance and capital markets—including senior roles at BMO Capital Markets and board positions at mining companies Ero Copper and former Pretium Resources—is expected to strengthen Wesdome’s financial oversight and capital allocation capabilities as it advances its strategy to build a larger, value-focused mid-tier gold producer.

The most recent analyst rating on (TSE:WDO) stock is a Buy with a C$28.00 price target. To see the full list of analyst forecasts on Wesdome Gold Mines stock, see the TSE:WDO Stock Forecast page.