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Australian gold miner operating multiple WA gold mines, enlarged by its 2024 merger with Karora Resources (Beta Hunt, Higginsville).
Australian gold miner operating multiple WA gold mines, enlarged by its 2024 merger with Karora Resources (Beta Hunt, Higginsville).
Sells gold at the market price, so profit depends on the gap between that price and its cost of mining and processing each ounce. The 2024 merger with Karora Resources brought Beta Hunt, which also yields nickel, and Higginsville into the group. This is the home listing; the Toronto line is WGX.TO.
In one line: A merged multi-mine Western Australian gold producer.
Moat: none. Commodity gold producer; merger added scale but no durable structural moat.
Headquarters: Perth, Australia · Founded: 1990 · Employees: 1,744
Size Westgold Resources (WGX.AX) is an Australia Materials company (Precious Metals) with a market value of $3.64B, the 86th largest of 316 Australia companies the cockpit tracks. Shares closed at A$5.58 on 6 Nov 2026.
Performance Over six months the shares fell 1.6%, against -6.3% for the median peer and +4.1% for the Australia market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 79.4% over the last twelve months (peer median +43.2%); the operating margin is 31.6% (peer median 43.2%).
Valuation It trades at 8.8× forward earnings against a peer median of 10.5× (8th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +34%, so the hurdle is -41 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.9 points above its cost of capital (9.2% WACC).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$2.44B | A$2.44B | A$1.36B | A$716M | A$657M |
| Revenue growth | — | +79% | +90% | +9% | — |
| Gross profit | A$881M | A$876M | A$230M | A$154M | A$23.9M |
| EBITDA | A$1.10B | A$1.10B | A$506M | A$268M | A$163M |
| Net income | A$443M | A$443M | A$34.8M | A$95.2M | A$10.0M |
| Free cash flow | A$584M | A$584M | A$106M | A$103M | A$27.8M |
| Capital expenditure | A$426M | A$426M | A$294M | A$273M | A$160M |
| Total debt | n/a | A$139M | A$147M | A$54.6M | A$27.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Westgold Resources WGX.AX | $3.64B | -2% | +79% | 32% | 8.8× | -7.6% |
| Regis Resources RRL.AX | $3.49B | -3% | +43% | 43% | 8.5× | -9.5% |
| Capricorn Metals CMM.AX | $4.42B | -1% | +45% | 58% | 17.6× | 12.7% |
| Vault Minerals VAU.AX | $4.19B | +21% | +35% | 33% | 13.0× | -0.1% |
| Northern Star Resources NST.AX | $25.3B | +19% | +19% | 35% | 17.8× | 17.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WGX.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.2% | -1.5% | 2nd highest of 21 |
| 6-month return | -1.6% | -6.3% | 9th highest of 21 |
| Distance from 52-week high | -31.6% | -28.6% | 8th lowest of 21 |
| Revenue growth (TTM) | +79.4% | +43.2% | 5th highest of 17 |
| Operating margin | 31.6% | 43.2% | 5th lowest of 17 |
| Forward P/E | 8.8× | 10.5× | 8th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -7.6% | 1.5% | 4th least demanding of 16 |
| Growth delivered (Del g) | +33.7% | +25.7% | 4th highest of 16 |
| Hurdle (Req g minus delivered) | -41.3 pp | -24.7 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | +18.9 pp | +14.3 pp | 10th highest of 20 |
| EV / EBITDA | 4.3× | 5.7× | 4th cheapest of 15 |
| Net debt / EBITDA | -0.5× | -0.5× | 7th least indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Westgold Resources WGX.AX | Australia | $3.64B | -2% | +79% | 32% | 8.8× | -7.6% | +33.7% |
| Aya Gold & Silver AYA.TO | Canada | $3.68B | +40% | +265% | 53% | 19.2× | 17.9% | +72.4% |
| Pan African Resources PAF.L | United Kingdom | $3.79B | -25% | +106% | 54% | 7.2× | -6.7% | +25.7% |
| Regis Resources RRL.AX | Australia | $3.49B | -3% | +43% | 43% | 8.5× | -9.5% | +23.5% |
| Skeena Resources SKE.TO | Canada | $3.90B | +6% | n/a | n/a | n/a | n/a | n/a |
| Hochschild Mining HOC.L | United Kingdom | $3.37B | -27% | +37% | 44% | 9.8× | -10.7% | +14.1% |
| Western Region Gold 601069.SS | China | $3.29B | -26% | +118% | n/a | 11.2× | 11.7% | +19.5% |
| Aris Mining ARIS.TO | Canada | $3.24B | -15% | +94% | 46% | 5.5× | 2.1% | +19.8% |
| Allied Gold AAUC.TO | Canada | $3.24B | -19% | +54% | 32% | 3.9× | n/a | n/a |
| Vault Minerals VAU.AX | Australia | $4.19B | +21% | +35% | 33% | 13.0× | -0.1% | +59.0% |
| Centerra Gold CG.TO | Canada | $4.25B | +27% | +44% | 27% | 12.4× | 6.5% | +13.9% |
| Predictive Discovery PDI.AX | Australia | $3.08B | -13% | n/a | -28% | n/a | n/a | n/a |
| Emerald Resources NL EMR.AX | Australia | $3.04B | +6% | +40% | 61% | 15.2× | 1.5% | +26.4% |
| Capricorn Metals CMM.AX | Australia | $4.42B | -1% | +45% | 58% | 17.6× | 12.7% | +33.9% |
| Lingbao Gold 3330.HK | Hong Kong | $2.94B | -28% | -10% | 22% | 8.0× | -5.6% | +17.8% |
| Wesdome Gold Mines WDO.TO | Canada | $2.92B | +6% | +49% | 57% | 7.8× | -10.7% | +33.5% |
| Fortuna Mining FVI.TO | Canada | $2.87B | -5% | +6% | 49% | 6.4× | -4.6% | +29.0% |
| Seabridge Gold SEA.TO | Canada | $2.87B | -8% | n/a | n/a | n/a | n/a | n/a |
| Novagold Resources NG | United States | $2.81B | -27% | n/a | n/a | n/a | n/a | n/a |
| Hunan Gold 002155.SZ | China | $4.72B | -33% | +1% | 4% | 15.3× | 11.1% | +27.4% |
| Ramelius Resources RMS.AX | Australia | $4.78B | +3% | -14% | 42% | 19.0× | 13.7% | +10.3% |