Wesdome Gold Mines Q3 net income doubles on higher gold prices

Overview

• Wesdome Q3 net income more than doubled to C$86.9 mln, setting a quarterly record

• Company's Q3 EBITDA increased by 77% to C$149.6 mln, a quarterly record

• Wesdome announces share buyback for up to 2% of common shares

Outlook

• Wesdome revises full-year 2025 gold production guidance to 177,000-193,000 ounces

• Kiena's full-year production guidance adjusted to 72,000-78,000 ounces

• Consolidated cash costs expected at C$1,275-$1,375 per ounce of gold sold

Result Drivers

• EAGLE RIVER PERFORMANCE - Eagle River mine exceeded expectations with higher grades and improved dilution control, contributing to record production and revenue

• GOLD PRICE IMPACT - Higher average realized gold price of US$3,523 per ounce supported revenue growth

• KIENA CHALLENGES - Kiena mine faced operational challenges, leading to adjusted production and cost guidance

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for Wesdome Gold Mines Ltd is C$25.00, about 16.6% above its November 3 closing price of C$20.86

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nGNX5GjrPV

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