Australia's Westgold rises as Macquarie maintains 'outperform' on output growth estimates

Westgold Resources

04/04/2024 01:14

** Shares of Australia's Westgold Resources  WGX.AX  rise as
much as 3.6% to A$2.445
    ** Analysts at Macquarie anticipate production growth
towards 300kozpa via development of Great Fingall and a Bluebird
expansion  
    ** Forecasts FY24 production of 227koz at an all-in
sustaining costs (AISC) of A$2,200 per ounce    
    ** Analysts cut FY24 EPS by 34% as Westgold downgraded FY24
outlook and posted 3QFY24 results below analysts' expectations
    ** Brokerage maintains stock rating to "outperform", lowers
price target to A$2.70 from A$2.90
        ** Westgold stock has risen 8.3% this year, as of last
close

 (Reporting by Megha  Rani)
 ((Megha.Rani2@thomsonreuters.com;))