Canada's Wesdome Gold Q2 profit rises on higher realized gold prices, reaffirms guidance

Wesdome Gold Mines (ontario)

13/08/2026 23:23

Overview
Canada gold miner's Q2 revenue rose 28% yr/yr on higher realized gold prices
Q2 net income and adjusted EPS increased from a year earlier
Company expanded share buyback program, repurchasing 7.8 mln shares by end of July

Outlook
Wesdome reaffirms full-year 2026 production and cost guidance for both Eagle River and Kiena
Company expects quarterly free cash flow to increase significantly over the balance of 2026
Eagle River AISC per ounce sold expected to fall within full-year guidance of $1,525-$1,675

Result Drivers
HIGHER GOLD PRICES - Co said increased average realized gold price was a key driver of higher revenue and margins
KIENA PRODUCTION GROWTH - Co said 28% yr/yr increase in Kiena production and higher grades contributed to results
EAGLE RIVER STRATEGY - Co said fill-the-mill strategy at Eagle River increased throughput but lowered average grades, affecting per-ounce costs

Company press release: ID:nNFC9RDY2r

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
C$0.64
 
Q2 Net Income
 
C$94 mln
 
Q2 EBITDA
 
C$170 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "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 (ontario) is C$33.00, about 1% below its August 13 closing price of C$32.68
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads
Aug 13 - Canada's G Mining Ventures Q2 free cash flow rises on higher gold prices
Aug 11 - Canada's Integra Resources Q2 revenue rises on higher gold prices
Aug 13 - Canada's Aya Gold & Silver Q2 revenue jumps on higher prices and sales volumes

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)