West Red Lake Gold Mines Ltd (TSE:WRLG)
OTHER OTC:WRLG
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West Red Lake Gold Mines
(OTC:WRLG)
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Rating:46Neutral
Price Target:
C$0.70
▼(-34.34% Downside)
Action:Reiterated
Date:05/06/26
Overall score is held down primarily by weak cash-flow quality (large negative free cash flow) and higher financial risk from increased leverage, alongside bearish technical signals (below major moving averages and negative momentum). A relatively low P/E provides some valuation support, and operating results show improvement, but durability and funding risk remain key constraints.
Positive Factors
Revenue turnaround
A 75.6% revenue increase and a return to slight net profit in 2025 indicate the company can scale sales and translate higher top-line into accounting profitability. This structural improvement supports longer-term operating leverage if revenue growth is sustained and cost control remains intact.
Negative Factors
Rising leverage
Debt now exceeding equity materially raises financial risk and reduces balance sheet flexibility. Higher leverage increases interest and refinancing vulnerability, constraining the company's ability to fund exploration or capex from internal sources during commodity or cash-flow downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue turnaround
A 75.6% revenue increase and a return to slight net profit in 2025 indicate the company can scale sales and translate higher top-line into accounting profitability. This structural improvement supports longer-term operating leverage if revenue growth is sustained and cost control remains intact.
Read all positive factors
West Red Lake Gold Mines (WRLG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$272.31M
Dividend YieldN/A
Average Volume (3M)2.42M
Price to Earnings (P/E)44.3
Beta (1Y)1.95
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees182
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.02
Shares Outstanding412,591,400
10 Day Avg. Volume1,307,889
30 Day Avg. Volume2,418,892
Financial Highlights & Ratios
PEG Ratio-7.36
Price to Book (P/B)3.81
Price to Sales (P/S)3.58
P/FCF Ratio-5.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$1.00Price Target Upside-5.66% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.25
Revenue Forecast (FY)C$226.15M
West Red Lake Gold Mines Business Overview & Revenue Model
Company Description
West Red Lake Gold Mines Ltd., acquires, explores for, and develops gold deposits in Canada. It holds interests in the West Red Lake project that comprising the NT Zone, the Mount Jamie Mine, the Rowan Mine, and Red Summit Mine properties covering...
How the Company Makes Money
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West Red Lake Gold Mines Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
44
Neutral
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Feb 2024 | Nov 2022 | Feb 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 103.44M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 45.25M | -2.16M | -250.40K | 0.00 | 0.00 |
| EBITDA | 7.00M | -99.19M | -31.99M | -227.85K | -218.88K |
| Net Income | 501.00K | -106.88M | -32.51M | -192.31K | -177.28K |
Balance Sheet | |||||
| Total Assets | 273.80M | 136.89M | 98.01M | 1.86M | 2.02M |
| Cash, Cash Equivalents and Short-Term Investments | 42.44M | 36.88M | 16.31M | 1.64M | 2.02M |
| Total Debt | 117.36M | 60.32M | 7.80M | 0.00 | 0.00 |
| Total Liabilities | 176.71M | 107.43M | 31.98M | 71.43K | 39.50K |
| Stockholders Equity | 97.08M | 29.46M | 66.03M | 1.79M | 1.98M |
Cash Flow | |||||
| Free Cash Flow | -70.60M | -95.00M | -26.35M | -203.09K | -196.19K |
| Operating Cash Flow | 2.85M | -87.84M | -26.15M | -203.09K | -196.19K |
| Investing Cash Flow | -73.45M | -7.17M | -4.39M | -173.02K | 15.00K |
| Financing Cash Flow | 76.16M | 115.59M | 45.21M | 0.00 | 0.00 |
West Red Lake Gold Mines Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | C$578.56M | -180.41 | -3.53% | ― | ― | 19.23% | |
52 Neutral | C$438.67M | -112.47 | -3.14% | ― | ― | -34.97% | |
46 Neutral | C$272.31M | 44.29 | 7.66% | ― | ― | ― | |
44 Neutral | C$331.70M | -21.90 | -8.10% | ― | ― | 47.58% | |
43 Neutral | C$350.71M | -8.26 | -22.30% | ― | ― | 25.70% | |
| ― | C$869.27M | -81.53 | -7.77% | ― | ― | -231.72% |
* Basic Materials Sector Average
TSE:WRLG
West Red Lake Gold Mines
0.70
-0.18
-20.45%
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West Red Lake Gold Mines Corporate Events
Business Operations and Strategy
West Red Lake Gold Hits High-Grade Austin 904 Results at Madsen Mine
Positive
Apr 13, 2026
West Red Lake Gold reported a series of high-grade drill intercepts from the Austin 904 Complex at its Madsen Mine, including 215.46 g/t gold over 5.35 metres, 50.34 g/t gold over 4.05 metres, and 61.70 g/t gold over 3 metres from drilling on the ...
Business Operations and Strategy
West Red Lake Gold Boosts Rowan Confidence With High-Grade Infill Drilling
Positive
Mar 31, 2026
West Red Lake Gold reported new drill results from a fully funded infill and conversion program at its Rowan Project, confirming high-grade gold mineralization in several key veins. The company completed 37 holes totaling about 6,300 metres, with ...
Business Operations and Strategy
West Red Lake Gold Joins VanEck Junior Gold Miners ETF
Positive
Mar 23, 2026
West Red Lake Gold Mines Ltd. has been added to the VanEck Junior Gold Miners ETF, effective at the close of trading on March 20, 2026, following the fund’s quarterly rebalance. The ETF tracks small- and mid-cap precious metals miners, givin...
Business Operations and Strategy
West Red Lake Gold De‑Risks Fork Deposit With High‑Grade Infill Drilling Near Madsen Mine
Positive
Mar 17, 2026
West Red Lake Gold Mines reported encouraging infill drilling results from its Fork Deposit, located about 250 metres southwest of the Madsen Mine in Ontario’s Red Lake district. The company highlighted multiple high‑grade gold interce...
Business Operations and Strategy
West Red Lake Gold Hits High-Grade Underground Intercepts at Madsen’s Austin 904 Complex
Positive
Feb 25, 2026
West Red Lake Gold Mines reported a new set of high-grade underground drill results from the Austin 904 Complex and South Austin zones at its Madsen Mine in Ontario, including standout intercepts of 219.73 g/t gold over 4.8 metres, 148.36 g/t over...
Business Operations and Strategy
West Red Lake Gold Hits New High-Grade Intercepts at Rowan Project
Positive
Feb 18, 2026
West Red Lake Gold reported additional high-grade gold intercepts from its fully funded infill and conversion drilling program at the Rowan Project in Ontario, including 84.3 g/t over 1 metre, 14.4 g/t over 5.5 metres and 24.4 g/t over 1.5 metres ...
Business Operations and StrategyExecutive/Board Changes
West Red Lake Gold Grants Equity Incentives to Management and Directors
Positive
Feb 6, 2026
West Red Lake Gold Mines has granted a substantial package of equity incentives to align management and board interests with shareholders, issuing 4,839,269 stock options to officers at an exercise price of $1.10, vesting over three years and exer...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.