Financials Wesdome Gold Mines Ltd.

Equities

WDO

CA95083R1001

Gold

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-05-17 pm EDT			5-day change	1st Jan Change
11.8 ^CAD	+4.15%		+2.52%	+53.05%

May. 16	Arizona Metals Appoints New CEO, Board Chair	MT
May. 14	Wesdome Gold Mines Brief: Keeps Outperform Rating and Target Raised To C$15 from $14.25 at National Bank, Which Notes "Step Change in Grades on Deck"	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	1,694	-	-
Enterprise Value (EV) ¹	1,370	1,426	1,585	1,097	1,150	1,601	1,499	1,694
P/E ratio	35.1 x	29.5 x	12.2 x	-74.8 x	-193 x	15.5 x	11.7 x	-
Yield	-	-	-	-	-	-	-	-
Capitalization / Revenue	8.55 x	6.86 x	6.19 x	4.01 x	3.45 x	3.35 x	3 x	2.83 x
EV / Revenue	8.36 x	6.62 x	6.03 x	4.13 x	3.45 x	3.17 x	2.65 x	2.83 x
EV / EBITDA	17 x	13.9 x	12 x	19.7 x	11.6 x	6.5 x	4.44 x	4.31 x
EV / FCF	111 x	42.1 x	-138 x	-12.2 x	-179 x	13.1 x	8.93 x	6.02 x
FCF Yield	0.9%	2.37%	-0.73%	-8.22%	-0.56%	7.62%	11.2%	16.6%
Price to Book	-	-	-	-	-	-	-	-
Nbr of stocks (in thousands)	137,900	139,127	141,330	142,487	148,967	149,542	-	-
Reference price ²	10.17	10.62	11.51	7.480	7.710	11.33	11.33	11.33
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	505.1	565.2	598.9
EBITDA ¹	80.72	102.3	132.2	55.62	99.33	246.4	337.4	392.9
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	103	145.5	-
Net margin	24.97%	23.54%	49.94%	-5.54%	-1.86%	20.39%	25.74%	-
EPS ²	0.2900	0.3600	0.9400	-0.1000	-0.0400	0.7300	0.9700	-
Free Cash Flow ¹	12.32	33.86	-11.51	-90.17	-6.405	122.1	167.9	281.6
FCF margin	7.51%	15.71%	-4.38%	-33.97%	-1.92%	24.17%	29.71%	47.02%
FCF Conversion (EBITDA)	15.26%	33.08%	-	-	-	49.55%	49.77%	71.69%
FCF Conversion (Net income)	30.08%	66.76%	-	-	-	118.54%	115.41%	-
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 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	85.5	66.69	61.93	61.82	75.04	76.7	84.56	69.7	102.2	100.9	118	137	165
EBITDA ¹	44.24	20.65	8.844	4.814	21.31	26.12	22.02	12.93	38.26	40.68	46.62	64.26	69.99
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	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	5/8/24	-	-	-

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	-	-	93	195	-
Leverage (Debt/EBITDA)	-	-	-	0.5538 x	0.011 x	-	-	-
Free Cash Flow ¹	12.3	33.9	-11.5	-90.2	-6.41	122	168	282
ROE (net income / shareholders' equity)	22.5%	21.6%	-	-3.71%	-1.5%	11.2%	21.6%	-
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	1.480	1.840	2.000
Capex ¹	58.8	68.4	142	146	101	120	94.6	37.8
Capex / Sales	35.84%	31.76%	54.19%	54.98%	30.32%	23.8%	16.74%	6.3%
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

11.33 CAD

Average target price

12.05 CAD

Spread / Average Target

+6.35%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Gold Mining

	1st Jan change	Capi.
WESDOME GOLD MINES LTD.	+53.05%	1.24B
NEWMONT CORPORATION	+5.68%	49.37B
AGNICO EAGLE MINES LIMITED	+27.82%	34.29B
BARRICK GOLD CORPORATION	+1.63%	30.74B
WHEATON PRECIOUS METALS CORP.	+18.69%	25.33B
NORTHERN STAR RESOURCES LIMITED	+7.62%	11.46B
ANGLOGOLD ASHANTI PLC	+35.96%	10.28B
KINROSS GOLD CORPORATION	+35.66%	9.63B
POLYUS	-.--%	8.72B
ROYAL GOLD, INC.	+10.06%	8.52B

Gold Mining