Highlights

  • Westgold Resources shares have delivered triple-digit gains over six months and one year.
  • Analysts tracked by Refinitiv continue to maintain a Buy rating on the stock.
  • December 2025 quarter recorded higher production, revenue, and cash balance levels.

Westgold Resources Ltd (ASX:WGX) has recorded notable share price movement across multiple timeframes. On 6 February, the stock traded at AUD 6.68, declining AUD 0.24 or 3.47% on the day. Despite the single-day drop, longer-term performance remains pronounced.

Over the past month, the share price has increased by AUD 0.30, representing a gain of 4.70%. The six-month period shows a rise of AUD 3.92, translating into a 142.03% increase. On a year-on-year basis, the stock has advanced by AUD 4.17, marking a 166.14% gain. These movements indicate a substantial re-rating of the stock during the past year.

Broker Rating and Target Price Snapshot
According to Refinitiv data, analysts covering Westgold Resources Ltd continue to maintain a Buy rating on the stock. The consensus target price stands at AUD 8.53. Based on the latest closing level, this target implies a potential upside of approximately 26.65%.

December 2025 Quarter Delivers Higher Production and Cash Levels
For the December 2025 quarter (Q2 FY26), Westgold Resources Limited reported record group gold production and a record underlying cash build. Group gold production reached 111,418 ounces, reflecting a 33% quarter-on-quarter increase. Gold sales totalled 115,200 ounces at an average realised price of AUD 6,356 per ounce, resulting in revenue of AUD 732 million.

Underlying cash build for the quarter rose to AUD 365 million, doubling from the previous quarter. Closing cash, bullion, and liquid investment increased to AUD 654 million by quarter end. The company exited the period without debt and remained unhedged.

Operational Drivers and Cost Dynamics
Production growth during the quarter was primarily driven by the Murchison operations. Higher grades, improved throughput, and increased processing of third-party oxide ore under the New Murchison Gold ore purchase agreement contributed to output growth. This approach lifted group all-in sustaining costs to AUD 3,500 per ounce.

Management noted that the higher cost profile was linked to a deliberate strategy aimed at maximising cash generation, which added AUD 14 million to quarterly cash flow.

Operational updates included the recommencement of reef mining at Great Fingall, progress at Bluebird–South Junction in line with planning, and positioning of the Beta Hunt operation for higher output in the second half of FY26.

Portfolio Actions and Production Outlook
During the quarter, Westgold continued portfolio optimisation activities, including the divestment of the Mt Henry–Selene asset. Progress also continued toward the planned demerger and initial public offering of Valiant Gold.

The company maintained its FY26 production guidance of 345,000 to 385,000 ounces. It also reaffirmed its three-year outlook, targeting annual production of around 470,000 ounces by FY28, alongside a longer-term focus on lowering structural costs.

With brokerage assessments maintaining a Buy stance, Westgold Resources is navigating a phase characterised by elevated gold production, expanded cash reserves, and ongoing portfolio restructuring. Share price performance over the past year reflects a sharp re-rating, while market participants continue to monitor delivery against production guidance, cost management efforts, and progress on planned corporate actions.

FAQs

Q1. What is the current broker rating for Westgold Resources Ltd?
According to Refinitiv data, analysts tracking the company maintain a Buy rating with a consensus target price of AUD 8.53.

Q2. How has Westgold Resources’ share price performed over the past year?
The stock has risen by 166.14% over the past year, increasing by AUD 4.17.

Q3. What were Westgold’s key financial outcomes in the December 2025 quarter?
The company reported revenue of AUD 732 million, an underlying cash build of AUD 365 million, and closing cash and liquid investments of AUD 654 million.