Wesdome Gold Mines (TSE:WDO) Issues Quarterly Earnings Results

Wesdome Gold Mines (TSE:WDO) released its quarterly earnings results on Thursday. The company reported C$0.62 earnings per share for the quarter, FiscalAI reports. Wesdome Gold Mines had a return on equity of 43.77% and a net margin of 38.46%. The company had revenue of C$250.59 million for the quarter.

Here are the key takeaways from Wesdome Gold Mines’ conference call:

• Q3 production was about 41,300 ounces, below expectations as Eagle River had a lower-grade stope and delayed sill mining, while workforce and planning issues at Kiena delayed two high-grade stopes. Wesdome expects full-year production in the lower half of guidance and AISC near the top of its range.
• Management reaffirmed 2026 production guidance of 180,000–205,000 ounces and expects Q4 to be the strongest quarter, citing confirmed Eagle River stopes, improved Kiena staffing and rising Presqu’île output. Presqu’île commercial production is now expected in Q1 2027.
• Q3 revenue rose to CAD 251 million and net income to CAD 90 million, primarily reflecting a 23% increase in the average gold price, despite 12% fewer ounces sold. Free cash flow fell year over year to CAD 52 million for the quarter, while year-to-date free cash flow was nearly CAD 220 million.
• Management flagged manpower inflation and other cost pressures for 2027; the CFO said 5% inflation could push AISC to roughly CAD 1,730–1,750 per ounce before offsets from efficiency and supply-chain initiatives. Full-year 2026 AISC is expected at the top end of guidance.
• Wesdome highlighted exploration upside at both districts, including high-grade extensions at Eagle River, new Kiena Deep zones and broad mineralization at Shawkey 10; these opportunities still require further drilling and resource conversion. The company ended Q3 debt-free with CAD 380 million in cash, though its share buyback is paused while management completes the 2027 budget.

Wesdome Gold Mines Stock Up 0.3%

Shares of TSE:WDO traded up C$0.08 during trading on Thursday, reaching C$27.84. The stock had a trading volume of 1,025,113 shares, compared to its average volume of 755,093. Wesdome Gold Mines has a one year low of C$19.48 and a one year high of C$37.22. The company has a market capitalization of C$4.00 billion, a P/E ratio of 10.05 and a beta of 1.29. The company has a current ratio of 6.90, a quick ratio of 0.37 and a debt-to-equity ratio of 0.73. The firm’s 50-day simple moving average is C$32.59 and its 200 day simple moving average is C$27.91.

Wesdome Gold Mines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.0306 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 15th.

Insider Activity

In related news, Director Anthea Ingrid Bath sold 66,961 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of C$31.15, for a total transaction of C$2,085,835.15. Following the completion of the transaction, the director owned 130,128 shares in the company, valued at C$4,053,487.20. The trade was a 33.98% decrease in their position. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WDO. Stifel Nicolaus lowered shares of Wesdome Gold Mines from a “buy” rating to a “hold” rating and set a C$34.00 target price for the company. in a research note on Monday, October 19th. Desjardins decreased their price target on shares of Wesdome Gold Mines from C$42.00 to C$41.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. National Bank Financial raised their price objective on Wesdome Gold Mines from C$34.50 to C$40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. BMO Capital Markets downgraded Wesdome Gold Mines from an “outperform” rating to a “hold” rating and increased their price target for the stock from C$30.00 to C$34.00 in a research report on Wednesday, August 19th. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Wesdome Gold Mines from C$32.00 to C$35.00 in a report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$34.50.

About Wesdome Gold Mines

Wesdome is a Canadian-focused gold producer with two high-grade underground assets, Eagle River in Northern Ontario and Kiena in Val-d’Or, Québec. The Company’s primary goal is to responsibly leverage its operating platform and high-quality brownfield and greenfield exploration pipeline to build a value-driven mid-tier gold producer.