Wesdome’s third-quarter earnings slightly beat estimates, but costs climbed as production fell 18% year over year.
Wesdome Gold Mines Ltd. (TSX: WDO) reported its third-quarter 2026 results after markets closed on November 4. Earnings came in at C$0.62 per share, just above the C$0.61 estimate. Revenue rose 9% year over year to C$250.6 million, even as gold production declined and all-in sustaining costs (AISC) increased. The company kept its 2026 production and AISC guidance, saying it expects a stronger finish to the year.
Recent earnings trend
Wesdome Gold Mines Ltd.
WDO.TO
WDO.TO
Wesdome Gold Mines Ltd.
WealthAwesomeMarket cap
$4.26B
P/E
10.9x
52W high
$37.22
52W low
$19.46
1W change
+13.59%
Beta
0.85
Analyst Price Targets
Based on analyst covering WDO · as of Nov 10, 2026
Wall Street analysts forecast WDO stock price to rise 20.5% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$35.75
+20.5% Upside
Previously C$36.00 on Oct 26, 2026
Current Price
C$29.67
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on WDO's historical volatility
30-Day Vol
60.8%
Annualized
90-Day Vol
60.3%
Annualized
Trend (90d)
-40.2%
Annualized drift
90d Mean
C$25.70
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$28.28 | C$22.94 – C$34.88 |
| 60 trading days | C$26.96 | C$20.05 – C$36.27 |
| 90 trading days | C$25.70 | C$17.88 – C$36.95 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 4 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-10 | — | 1.0400 | — |
| 2026-09-30 | 2026-11-03 | 0.6200 | 0.6100 | +1.6% |
| 2026-06-30 | 2026-08-13 | 0.6500 | 0.6000 | +8.3% |
| 2026-03-31 | 2026-03-31 | — | 0.7455 | — |
| 2025-12-31 | 2026-03-11 | 0.7800 | 0.6800 | +14.7% |
| 2025-09-30 | 2025-11-04 | 0.5800 | 0.5500 | +5.5% |
Investor takeaway: Higher gold prices helped lift revenue, profit and EBITDA despite lower production. But costs are rising, and delays at both mines make execution the main issue to watch. Wesdome expects a strong fourth quarter, though both mines are tracking below the midpoint of their guidance ranges. Follow WDO.TO’s results and valuation on the Wesdome stock page.
C$0.62 EPS, against a C$0.61 estimate
The 1.6% earnings beat was small, but net income rose to C$89.7 million from C$86.9 million a year earlier. Revenue increased 9% to C$250.6 million, and gross profit rose 4% to C$155.4 million. Higher realized gold prices supported the results, while lower production and higher costs weighed on them. The recent-earnings trend table below summarizes how the company’s results compared with estimates.
Bull case
Wesdome generated C$52 million in free cash flow and ended September with C$735 million in liquidity, including C$380 million in cash. Management kept its full-year guidance and expects higher-grade stopes at Kiena, better throughput at Eagle River and continued progress from near-mine exploration. The company also renewed its normal course issuer bid, which allows it to buy back up to 5% of its public float, and declared a quarterly dividend of C$0.0306.
Bear case
Gold production fell 18% year over year to 41,287 ounces. AISC rose 26% to US$1,789 per ounce sold, and cash costs climbed 36% to US$1,287. At Eagle River, a lower-grade stope and incomplete sill mining reduced grades. At Kiena, workforce planning gaps lowered equipment use and delayed the mining sequence. The expected improvement next quarter depends on better execution. Wesdome says both mines should finish within their guidance ranges, but below the midpoint.
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