It's cheap mid-gold ...
22:42 GMT - Canaccord cuts its price target on Westgold Resources by 7.9% to A$2.90/share, after paring its production outlook for the company's Higginsville operation and lifting capex assumptions at its Central Murchison Gold Project. It now sees Higginsville's annual output averaging 69,000 troy ounces of gold, down from a prior expectation of 78,000 oz. At CMGP, capex is tipped to average A$47M per year between FY19 and FY22. "We view the revised estimates as conservative and achievable," Canaccord says. With Westgold trading on a price-to-net asset value of 0.53 times versus peers at 0.90 times "the stock represents deep value, in our view," it adds. ([email protected]; @dwinningWSJ)
(END) Dow Jones Newswires
WGX Price at posting:
$1.52 Sentiment: Buy Disclosure: Held
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