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West Red Lake Gold Mines
(WRLG)
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Rating:58Neutral
Price Target:
C$0.80
▼(-16.56% Downside)
Action:Reiterated
Date:08/26/26
The score is held back primarily by transitional financials—higher leverage and historically weak free-cash-flow quality—despite an improving operating turnaround. Technicals are supportive with strong momentum, and recent corporate updates are positive, but a high P/E and lack of dividend yield data reduce valuation support.
Positive Factors
Revenue and EBIT inflection
The sharp revenue increase and move to positive EBIT indicate meaningful operational progress and expanding activity across the company’s gold portfolio. If this improvement persists, it can strengthen internal funding capacity, support further project advancement, and improve the business’s ability to scale toward production.
Negative Factors
Debt exceeds equity
Debt now exceeds equity after a material balance-sheet expansion, increasing financial risk as the company advances its assets. Higher leverage can constrain capital allocation, raise the importance of consistent cash generation, and leave less flexibility to fund development or absorb operational setbacks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and EBIT inflection
The sharp revenue increase and move to positive EBIT indicate meaningful operational progress and expanding activity across the company’s gold portfolio. If this improvement persists, it can strengthen internal funding capacity, support further project advancement, and improve the business’s ability to scale toward production.
Read all positive factors
West Red Lake Gold Mines (WRLG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$319.16M
Dividend Yield12.67%
Average Volume (3M)1.14M
Price to Earnings (P/E)17.5
Beta (1Y)1.85
Revenue GrowthN/A
EPS GrowthN/A
CountryCA
Employees182
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.04
Shares Outstanding414,495,100
10 Day Avg. Volume913,164
30 Day Avg. Volume1,142,163
Financial Highlights & Ratios
PEG Ratio-7.40
Price to Book (P/B)3.81
Price to Sales (P/S)3.58
P/FCF Ratio-5.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.11
Revenue Forecast (FY)C$218.25M
West Red Lake Gold Mines Business Overview & Revenue Model
Company Description
Operating within Canada, West Red Lake Gold Mines Ltd. specializes in the acquisition, exploration, and development of gold deposits. Its principal asset is the West Red Lake project, a substantial 3,100-hectare land package located in the Red Lak...
West Red Lake Gold Mines Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
44
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Feb 2024 | Nov 2022 | Feb 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 168.07M | 103.44M | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 68.40M | 45.25M | -2.16M | -250.40K | 0.00 | 0.00 |
| EBITDA | 35.53M | 7.00M | -99.19M | -31.99M | -227.85K | -218.88K |
| Net Income | 17.05M | 501.00K | -106.88M | -32.51M | -192.31K | -177.28K |
Balance Sheet | ||||||
| Total Assets | 291.06M | 273.80M | 136.89M | 98.01M | 1.86M | 2.02M |
| Cash, Cash Equivalents and Short-Term Investments | 31.21M | 42.44M | 36.88M | 16.31M | 1.64M | 2.02M |
| Total Debt | 120.66M | 117.36M | 60.32M | 7.80M | 0.00 | 0.00 |
| Total Liabilities | 168.79M | 176.71M | 107.43M | 31.98M | 71.43K | 39.50K |
| Stockholders Equity | 122.27M | 97.08M | 29.46M | 66.03M | 1.79M | 1.98M |
Cash Flow | ||||||
| Free Cash Flow | -23.51M | -70.60M | -95.00M | -26.35M | -203.09K | -196.19K |
| Operating Cash Flow | 53.49M | 2.85M | -87.84M | -26.15M | -203.09K | -196.19K |
| Investing Cash Flow | -76.99M | -73.45M | -7.17M | -4.39M | -173.02K | 15.00K |
| Financing Cash Flow | 31.02M | 76.16M | 115.59M | 45.21M | 0.00 | 0.00 |
West Red Lake Gold Mines Technical Analysis
Negative
0.96
Price Trends
0.80
Negative
0.74
Positive
0.92
Negative
Market Momentum
>-0.01
Positive
43.90
Neutral
21.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:WRLG, the sentiment is Negative. The current price of 0.96 is above the 20-day moving average (MA) of 0.83, above the 50-day MA of 0.80, and above the 200-day MA of 0.92, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.90 is Neutral, neither overbought nor oversold. The STOCH value of 21.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:WRLG.
West Red Lake Gold Mines Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | C$319.16M | 17.54 | 16.61% | 12.67% | ― | ― | |
55 Neutral | C$861.90M | -155.28 | -5.10% | ― | ― | -11.93% | |
50 Neutral | C$289.98M | -13.05 | -9.94% | ― | ― | 18.45% | |
50 Neutral | C$444.27M | -72.35 | -4.25% | ― | ― | -101.53% | |
49 Neutral | C$368.56M | -6.15 | -23.30% | ― | ― | 27.54% | |
44 Neutral | C$730.55M | -11.97 | -38.19% | ― | ― | -302.12% |
* Basic Materials Sector Average
TSE:WRLG
West Red Lake Gold Mines
0.77
-0.22
-22.22%
TSE:BYN
Banyan Gold
1.91
1.13
144.87%
TSE:NEXG
Treasury Metals
1.43
-0.29
-16.86%
TSE:GOLD
GoldMining
1.34
-0.37
-21.64%
TSE:AUXX
Gold X2 Mining
6.99
3.87
124.04%
TSE:WGO
White Gold
1.91
0.75
64.66%
West Red Lake Gold Mines Corporate Events
Business Operations and Strategy
West Red Lake Gold Hits High-Grade Underground Intercepts at Madsen Mine
Positive
Sep 22, 2026
West Red Lake Gold reported another series of high-grade underground drill results from the Austin 904 and 955 complexes at its Madsen Mine, including intercepts of 176.04 g/t gold over 5.3 metres, 128.32 g/t over 4.5 metres and 35.72 g/t over 6.8...
Business Operations and StrategyFinancial Disclosures
West Red Lake Gold Boosts Q2 Output, Slashes Costs at Madsen Mine
Positive
Aug 25, 2026
West Red Lake Gold reported significantly improved second-quarter 2026 results from its Madsen Mine, with gold production rising 51% to 8,576 ounces and gold sales up 34% to 8,260 ounces versus the prior quarter. Revenue increased 17% to $49.0 mil...
Business Operations and Strategy
West Red Lake Gold Advances Madsen Shaft Upgrade With Phase One Complete
Positive
Aug 13, 2026
West Red Lake Gold has completed Phase One of the refurbishment of the historic Madsen Mine shaft in Ontario, restoring initial hoisting capability of about 200 tonnes per day and demonstrating the ability to safely move ore and waste to surface. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.