Ann: Presentation - FY23 Full Year Results, page-7

Just got this in an email ...Fri, 25 Aug at 9:18 am



Friday, 25 August 2023

WGX - WESTGOLD RESOURCES LIMITED

Macquarie rates WGX as Outperform (1) - Westgold Resources' FY23 release is labelled "mixed" as earnings missed Macquarie's forecast, but cash flow proved better-than-expected.

The latter underpins the company's organic growth strategy, the broker assures. Depreciation and amortisation were 12% higher than expected.

Macquarie retains a positive view. At the bottom line, net profit missed the forecast by -46%. FY24 guidance has been left unchanged, including growth capex.

Earnings estimates have received a decent haircut, but only for FY24. Outperform. The price target falls to $1.50 from $2.

Target price is $1.50 Current Price is $1.46 Difference: $0.04 If WGX meets the Macquarie target it will return approximately 3% (excluding dividends, fees and charges). The company's fiscal year ends in June.

Forecast for FY24:

Macquarie forecasts a full year FY24 dividend of 1.00 cents and EPS of 13.60 cents . At the last closing share price the estimated dividend yield is 0.68%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 10.74.

Forecast for FY25:

Macquarie forecasts a full year FY25 dividend of 3.00 cents and EPS of 19.40 cents . At the last closing share price the estimated dividend yield is 2.05%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.53.

Market Sentiment: 1.0All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources