Financials Wesdome Gold Mines Ltd.

Equities

WDO

CA95083R1001

Gold

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-04-26 pm EDT			5-day change	1st Jan Change
10.92 ^CAD	+0.92%		-2.33%	+41.63%

Apr. 22	Wesdome Gold Mines' Outperform Rating, C$14.00 Price Target, Reiterated by National Bank of Canada	MT
Apr. 22	Wesdome Gold Mines Down 3.8% as Exploration Chief Michael Michaud Steps Down to Join Red Pine Exploration	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,402	1,478	1,627	1,066	1,149	1,633	-	-
Enterprise Value (EV) ¹	1,370	1,426	1,585	1,097	1,150	1,564	1,474	1,633
P/E ratio	35.1 x	29.5 x	12.2 x	-74.8 x	-193 x	18.2 x	14.6 x	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	8.55 x	6.86 x	6.19 x	4.01 x	3.45 x	3.5 x	3.09 x	-
EV / Revenue	8.36 x	6.62 x	6.03 x	4.13 x	3.45 x	3.36 x	2.79 x	-
EV / EBITDA	17 x	13.9 x	12 x	19.7 x	11.6 x	5.69 x	4.87 x	3.88 x
EV / FCF	111 x	42.1 x	-138 x	-12.2 x	-179 x	16.3 x	9.76 x	5.8 x
FCF Yield	0.9%	2.37%	-0.73%	-8.22%	-0.56%	6.13%	10.2%	17.2%
Price to Book	-	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	137,900	139,127	141,330	142,487	148,967	149,534	-	-
Reference price ²	10.17	10.62	11.51	7.480	7.710	10.92	10.92	10.92
Announcement Date	3/10/20	3/10/21	3/10/22	2/22/23	3/12/24	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	164	215.5	262.9	265.5	333.2	466	529	-
EBITDA ¹	80.72	102.3	132.2	55.62	99.33	274.9	302.7	421.2
EBIT	59.51	79.92	-	-	-	-	-	-
Operating Margin	36.29%	37.09%	-	-	-	-	-	-
Earnings before Tax (EBT)	61.43	74.9	-	-3.191	-6.369	-	-	-
Net income ¹	40.94	50.72	131.3	-14.71	-6.187	73	97	-
Net margin	24.97%	23.54%	49.94%	-5.54%	-1.86%	15.67%	18.34%	-
EPS ²	0.2900	0.3600	0.9400	-0.1000	-0.0400	0.6000	0.7500	-
Free Cash Flow ¹	12.32	33.86	-11.51	-90.17	-6.405	95.83	151.1	281.6
FCF margin	7.51%	15.71%	-4.38%	-33.97%	-1.92%	20.56%	28.56%	-
FCF Conversion (EBITDA)	15.26%	33.08%	-	-	-	34.86%	49.91%	66.87%
FCF Conversion (Net income)	30.08%	66.76%	-	-	-	131.27%	155.73%	-
Dividend per Share ²	-	-	-	-	-	-	-	-
Announcement Date	3/10/20	3/10/21	3/10/22	2/22/23	3/12/24	-	-	-

¹CAD in Million²CAD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	67.55	85.5	66.69	61.93	61.82	75.04	76.7	84.56	69.7	102.2	100	-	-	-
EBITDA ¹	32.83	44.24	20.65	8.844	4.814	21.31	26.12	22.02	12.93	38.26	34.33	43	65	70
EBIT	-	-	-	-	-3.559	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-5.76%	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	-	-	-	-	-3.899	-	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-6.31%	-	-	-	-	-	-	-	-	-
EPS	-	-	0.0500	-0.1000	-0.0300	-	-	-	-	0.0200	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	11/10/21	3/10/22	5/11/22	8/10/22	11/9/22	2/22/23	5/10/23	8/10/23	11/8/23	3/12/24	-	-	-	-

¹CAD in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	30.8	1.09	-	-	-
Net Cash position ¹	32	52	42.2	-	-	69	159	-
Leverage (Debt/EBITDA)	-	-	-	0.5538 x	0.011 x	-	-	-
Free Cash Flow ¹	12.3	33.9	-11.5	-90.2	-6.41	95.8	151	282
ROE (net income / shareholders' equity)	22.5%	21.6%	-	-3.71%	-1.5%	12.8%	26.4%	-
ROA (Net income/ Total Assets)	-	15.7%	-	-	-	-	-	-
Assets ¹	-	322.2	-	-	-	-	-	-
Book Value Per Share	-	-	-	-	-	-	-	-
Cash Flow per Share ²	0.5600	0.7800	0.9200	0.3300	0.6900	1.310	1.680	2.020
Capex ¹	58.8	68.4	142	146	101	106	86.2	-
Capex / Sales	35.84%	31.76%	54.19%	54.98%	30.32%	22.85%	16.3%	-
Announcement Date	3/10/20	3/10/21	3/10/22	2/22/23	3/12/24	-	-	-

¹CAD in Million²CAD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Wesdome Gold Mines Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

B-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

10.92 CAD

Average target price

11.96 CAD

Spread / Average Target

+9.56%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Gold Mining

	1st Jan change	Capi.
WESDOME GOLD MINES LTD.	+41.63%	1.19B
NEWMONT CORPORATION	+3.24%	49.27B
AGNICO EAGLE MINES LIMITED	+19.45%	32.63B
BARRICK GOLD CORPORATION	-2.42%	29.96B
WHEATON PRECIOUS METALS CORP.	+12.88%	24.43B
NORTHERN STAR RESOURCES LIMITED	+10.62%	11.31B
ANGLOGOLD ASHANTI PLC	+27.61%	9.95B
POLYUS	-.--%	8.61B
KINROSS GOLD CORPORATION	+14.84%	8.27B
ROYAL GOLD, INC.	+2.99%	8.19B

Gold Mining