Canada's Wesdome Q1 revenue rises 60%, net income up 90%

Wesdome Gold Mines (ontario)

12/05/2026 22:10

Overview

Canadian gold miner's Q1 revenue rose 60% yr/yr, driven by higher realized gold prices

Q1 net income jumped 90% yr/yr to record $119 mln; free cash flow more than doubled

Company completed first tranche of buyback, raising share repurchase limit by 3 mln shares

Outlook

Wesdome expects 2026 gold production of 180,000-205,000 oz

Company sees 2026 cash costs at US$1,050-1,150/oz and AISC at US$1,525-1,700/oz

Wesdome expects capital investment to peak in Q3 as planned improvements advance

Result Drivers

HIGHER GOLD PRICES - Revenue and profit growth were mainly driven by a higher average realized gold price per ounce sold

COST PRESSURES - Cash costs and all-in sustaining costs per ounce rose due to higher mine operating costs, increased labour and fuel expenses, and higher sustaining capital at Kiena

PRODUCTIVITY IMPROVEMENTS - Eagle River saw higher mill throughput and Kiena benefited from operational changes and additional ore from Presqu’île, supporting output despite lower grades

Company press release: ID:nNFC6MWyP1

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
C$0.79
Q1 Net Income
C$119 mln
Q1 EBITDA
C$212 mln
Q1 Free Cash Flow
C$126 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "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$31.00, about 5.8% above its May 11 closing price of C$29.31

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)