FY26 Guidance
PERTH, Western Australia, Aug. 7, 2025 /CNW/ - Westgold Resources Limited (ASX: WGX) (TSX: WGX) – Westgold or the Company) is pleased to present its FY26 Guidance.
Highlights
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Production guidance of 345-385koz - at AISC of $2,600-$2,900/oz
Non-sustaining capex guidance of $270M
investing predominantly in Bluebird-South Junction and Great Fingall mines
Exploration and resource definition guidance of $50M
Multi - year outlook expected in September
following release of FY25 Mineral Resource Estimate and Ore Reserve
Westgold Managing Director and CEO Wayne Bramwell commented:
"Westgold is now leveraging our expanded scale and continuing to optimise our largest mines and mills for grade and enhanced free cash flow in FY26. Consistency in delivery is key – driven by continued investment in drilling, improving operational efficiency and prudently allocating capital where it delivers the greatest return.
This strategy is already bearing fruit with a $132 million treasury build in Q4 and FY25 closing on a record $364 million in cash, bullion and investments.
Our team remains focussed on delivering enhanced shareholder returns through the delivery of safe and profitable ounces. With a robust balance sheet, full exposure to the gold price and a clear path to organic growth, Westgold is committed to becoming the leading Australian gold company."
Westgold FY26 Guidance
Group Production
Within the FY26 production guidance of 345-385koz, Westgold forecasts 330-355koz being produced from Westgold assets and circa 15-30koz from the processing of purchased ores. Group production is back-end weighted to H2, FY26 due to the timing of mine ramp ups at Bluebird-South Junction, Great Fingall and from ore sourced from third parties.
Murchison
Fortnum Processing Hub
Milled grade at the Fortnum Processing Hub is expected to lift across FY26, underpinned by ore from the Starlight underground mine. Mine performance is expected to remain consistent year-on-year, supported by high-grade ore from the Galaxy and Nightfall zones within the Starlight complex.
Bluebird Processing Hub
Milled grade at the Bluebird Processing Hub at Meekatharra is expected to lift across FY26 as run of mine stocks build and higher-grade ore sources displace lower grade stocks. Those opportunities include:
Bluebird-South Junction mine - the establishing of additional work areas and introduction of paste fill in this mine will result in lower production rates in H1 FY26 3, with the asset expected to reach a steady-state run rate of 1-1.2Mtpa by the end of FY26.
Great Fingall mine - first ore from higher grade virgin stopes at Great Fingall is expected in Q2 FY26, ramping up through FY26 with the asset reaching commercial production in FY27.
Third party ore supply – from opportunities within trucking distance of Westgold processing hubs.
__________________________________
1 Westgold's FY26 production guidance assumes ~15,000 – 30,000 ounces of production from purchased third party ore.
2 Included in Westgold's AISC/oz guidance are indicative costs for third party purchased ore.
3 Refer to ASX announcement titled "June 2025 Quarterly Results" – 23 July 2025
Tuckabianna Processing Hub
Milled grade at the Tuckabianna Processing Hub near Cue is expected to remain consistent across FY26 with increasing outputs from the lower grade Upper Cave at Big Bell, offsetting a planned reduction in mined output from the higher-grade Lower Cave. This shift in ore sourcing is anticipated to deliver a more favourable cost profile for several years, deferring the capital-intensive development of the Big Bell Deeps.
Southern Goldfields
Higginsville Processing Hub
In the Southern Goldfields, Westgold continues to debottleneck and optimise the Higginsville Processing Hub and anticipates milled throughputs and grades to lift across FY26 as run of mine stocks build and greater volumes of higher-grade ore from Beta Hunt and Two Boys is processed.
At Beta Hunt (the primary ore source for Higginsville), the completion of key infrastructure projects at Beta Hunt is expected to unlock higher productivity and support a ramp-up towards a 2Mtpa mining rate.
AISC
Westgold forecasts FY26 AISC between A$2,600 - A$2,900/oz. Included in Westgold's AISC/oz guidance are indicative costs for purchased ore.
Non-Sustaining Capital
Westgold's non-sustaining capital investment of $270M is predominantly at growth projects within the Murchison - specifically at Bluebird-South Junction ($81M) and Great Fingall ($97M). This investment is largely attributable to increased underground development at these two long life assets.
At Fortnum, Westgold is investing $21M in upgrades to the primary ventilation and power infrastructure associated with the Starlight underground mine, and the next tailing storage facility (TSF).
In the Southern Goldfields, Westgold is closing out capital projects relating to Beta Hunt mine infrastructure and investing in TSF expansions and processing plant debottlenecking opportunities at Higginsville ($62M).
The FY26 non-sustaining capex estimated breakdown is shown below:
Exploration
Westgold plans to invest $50M in exploration and resource definition in FY26, with the expenditure split approximately evenly between the two functions. Westgold is targeting 100km in exploration drilling over the year, with expenditure evenly across both the Murchison and the Southern Goldfields packages.
Resource definition and conversion drilling will primarily focus on Bluebird-South Junction and Beta Hunt. Westgold has 17 underground drill rigs operating across the package currently with 3 additional surface drill rigs provided by third parties.
This announcement is authorised for release to the ASX by the Board.
Compliance Statements
Forward Looking Statements
These materials prepared by Westgold Resources Limited (or the " Company") include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "believe", "forecast", "predict", "plan", "estimate", "anticipate", "continue", and "guidance", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control.
Although the Company attempts, and has attempted, to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. In addition, the Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section of the Company's continuous disclosure filings available on SEDAR+ or the ASX, including, in the Company's current annual report, half year report or most recent management discussion and analysis.
Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances.
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The Consolidated EBITDA is substantially similar to Adjusted EBITDA. 2 Consolidated Interest Expense is defined as all interest expense calculated on twelve month rolling consolidated basis. 3 Consolidated Net Senior Debt is defined as Consolidated Total Debt minus subordinated debt, cash and cash equivalent. As at June 30, 2025, the Company was in compliance with all covenants related to the Credit Facility. The Credit Facility The amended and restated credit agreement, a copy of which is available on SEDAR+, provides the Company with its Credit Facility and includes requirements that the Company comply with certain covenants including a Consolidated Net Debt to Consolidated EBITDA ratio, a Consolidated EBITDA to Consolidated Interest Expense ratio and a Consolidated Net Senior Debt to Consolidated EBITDA ratio. Industry Overview The outlook for oilfield services continues to be relatively constructive despite a complex backdrop. Global oil demand continues to remain steady in 2025; however, the market is currently well supplied keeping a ceiling on global crude oil prices. In the second quarter of 2025, OPEC+ announced further easing of production cuts, adding additional supply to the market. Furthermore, new hostilities between Israel and Iran, while currently abated, led to crude oil commodity price volatility during the second quarter. The benchmark price of West Texas Intermediate (" WTI") crude prices increased from an average of $62/bbl in May 2025 to currently average $68/bbl in July 2025, reflecting hostilities in the Middle East and oil supply risk. The United States renewed trade policy changes, economic growth concerns, and OPEC+ production changes continue to add uncertainty to the oil and natural gas market and commodity prices. Oil producers have shown capital discipline keeping drilling programs steady in the Company's United States operating region, while Canadian activity continues to show strength as a result of the completion of the Trans Mountain Pipeline expansion in May of 2024. The pending activation of the Coastal GasLink Pipeline and several liquefied natural gas ("LNG") projects, including LNG Canada, are expected to drive longer-term growth in Canada. In the present environment, the Company remains committed to disciplined capital allocation, driving free cash flow generation, and debt repayment. The Company has targeted, from the period beginning 2023 to the end of 2025, debt reduction of approximately $600.0 million. If industry conditions change, these targets may be increased or decreased. The Company has budgeted maintenance capital expenditures for 2025 of approximately $154.0 million and selective upgrade capital of approximately $30.5 million, of which $19.0 million is customer funded. The increase in capital expenditures in 2025 is due to a recently awarded five year contract for two rigs in the Company's Oman operating region as well as a rig being relocated from Canada to the United States. The Company continues to consider rig relocation or upgrade projects in response to customer demand and under appropriate contract terms, which may impact capital expenditures. Canadian Activity Canadian activity, representing 31 percent of total revenue in the first half of 2025, declined in the second quarter of 2025 due to seasonal spring break-up. Canadian activity is expected to improve in the third quarter of 2025 due to positive market conditions. However, potential future trade tariffs imposed between Canada and the United States, including tariffs on crude oil, may impact Canadian activity over the near term. As of August 7, 2025, of our 88 marketed Canadian drilling rigs, approximately 56 percent were engaged under term contracts of various durations. Approximately 57 percent of our contracted rigs have a remaining term of six months or longer, although they may be subject to early termination. United States Activity United States activity, representing 50 percent of total revenue in the first half of 2025, improved in the second quarter with rig additions in the Company's California and Rockies operating regions. In addition, during the second quarter, the Company moved one rig from Canada down to the United States on a long-term contract in the Rockies region. United States activity is expected to remain steady or modestly improve in the second half of 2025 due to potential rig additions in the Company's California region. As of August 7, 2025, of our 71 marketed United States drilling rigs, approximately 56 percent were engaged under term contracts of various durations. Approximately eight percent of our contracted rigs have a remaining term of six months or longer, although they may be subject to early termination. International Activity International activity, representing 19 percent of total revenue in the first half of 2025, declined in the second quarter due to rig declines in Venezuela and Bahrain. However, international operations are expected to remain steady and improve exiting the year due to a two-rig award in Oman. Activity in Oman remained steady in the second quarter with three rigs. In addition, the Company was recently awarded a two-rig five-year contract with a major international producer. The two rigs are currently in-country and both are expected to begin operations by the first half of 2026. Operations in Kuwait remained steady in the second quarter with two rigs. Activity in Bahrain decreased in the second quarter with one of the two rigs coming off contract. In the third quarter, the Company expects activity in the Middle East to be steady at three rigs in Oman, two rigs in Kuwait, and one rig in Bahrain. Operations in Australia improved by an additional rig in the second quarter to four active rigs. The Company expects activity to improve by one rig to a total of five rigs in the third quarter. Operations in Argentina remained steady at two rigs in the second quarter of 2025. However, exiting the second quarter, activity in Argentina temporarily declined by one rig. Argentina is expected to remain at one rig active in the third quarter of 2025 and increase back to two rigs in the fourth quarter of 2025. In the second quarter, operations in Venezuela declined by two rigs and operations suspended as a result of announced changes by the United States administration regarding sanction waivers. Operations in Venezuela are expected to remain suspended for the remainder of 2025. As of August 7, 2025, of our 27 marketed international drilling rigs, approximately 48 percent were engaged under term contracts of various durations. Approximately 85 percent of our contracted rigs have a remaining term of six months or longer, although they may be subject to early termination. RISK AND UNCERTAINTIES The Company is subject to numerous risks and uncertainties. A discussion of certain risks faced by the Company may be found under the "Risk Factors" section of the Company's Annual Information Form (" AIF") and the "Risks and Uncertainties" section of the Company's Management's Discussion & Analysis (" MD&A") for the year ended December 31, 2024, which are available under the Company's SEDAR+ profile at The Company's risk factors and management of those risks have not changed substantially from those as disclosed in the AIF. Additional risks and uncertainties not presently known by the Company, or that the Company does not currently anticipate or deem material, may also impair the Company's future business operations or financial condition. If any such potential events described in the Company's AIF or otherwise actually occur, or described events intensify, overall business, operating results and the financial condition of the Company could be materially adversely affected. A conference call will be held to discuss the Company's second quarter 2025 results at 10:00 a.m. MDT (12:00 p.m. EDT) on Friday, August 8, 2025. The conference call number is 1-888-510-2154 and the conference call ID is: 29695. A taped recording of the conference call will be available until August 15, 2025, by dialing 1-888-660-6345 and entering the reservation number 29695#. A live broadcast may be accessed through the Company's website at Ensign Energy Services Inc. is an international oilfield services contractor and is listed on the Toronto Stock Exchange under the trading symbol ESI. As at June 30 2025 December 31 2024 (Unaudited - in thousands of Canadian dollars) Assets Current Assets Cash $ 14,974 $ 28,113 Accounts receivable 271,989 310,453 Inventories, prepaid, investments and other 44,417 50,473 Total current assets 331,380 389,039 Property and equipment 2,149,214 2,305,985 Deferred income taxes 214,953 215,466 Total assets $ 2,695,547 $ 2,910,490 Liabilities Current Liabilities Accounts payable and accruals $ 237,938 $ 280,627 Share-based compensation 5,275 8,730 Income taxes payable 2,291 5,811 Current portion of lease obligation 10,237 12,848 Current portion of long-term debt 171,599 181,929 Total current liabilities 427,340 489,945 Share-based compensation 5,242 7,952 Long-term debt 798,379 869,682 Lease obligations 17,466 11,469 Income tax payable 5,426 5,738 Deferred income taxes 140,127 156,165 Total liabilities 1,393,980 1,540,951 Shareholders' Equity Shareholders' capital 268,965 267,987 Contributed surplus 22,282 23,354 Accumulated other comprehensive income 291,021 336,187 Retained earnings 719,299 742,011 Total shareholders' equity 1,301,567 1,369,539 Total liabilities and shareholders' equity $ 2,695,547 $ 2,910,490 Ensign Energy Services Inc. Consolidated Statements of Loss Three months ended Six months ended June 30 2025 June 30 2024 June 30 2025 June 30 2024 (Unaudited - in thousands of Canadian dollars, except per common share data) Revenue $ 372,415 $ 391,792 $ 808,926 $ 823,099 Expenses Oilfield services 278,217 276,075 597,319 574,865 Depreciation 82,767 82,512 164,660 170,765 General and administrative 12,844 15,495 27,870 30,556 Share-based compensation 1,984 241 373 4,066 Foreign exchange and other 2,439 (220) 540 4,664 Total expenses 378,251 374,103 790,762 784,916 (Loss) income before interest expense, accretion of deferred financing charges and other gains and income taxes (5,836) 17,689 18,164 38,183 Loss (gain) on asset sale 7,774 (4,663) 6,549 (6,408) Interest expense 18,564 25,538 39,065 52,018 Accretion of deferred financing charges 417 417 834 834 Loss before income taxes (32,591) (3,603) (28,284) (8,261) Income taxes (recovery) Current income taxes 642 328 2,057 1,482 Deferred income taxes (recovery) (6,684) 658 (7,690) (4,113) Total income taxes (recovery) (6,042) 986 (5,633) (2,631) Net loss $ (26,549) $ (4,589) $ (22,651) $ (5,630) Net (loss) income attributable to: Common shareholders (26,397) (4,538) (22,712) (5,755) Non-controlling interests (152) (51) 61 125 (26,549) (4,589) (22,651) (5,630) Net loss attributable to common shareholders per common share Basic $ (0.14) $ (0.02) $ (0.12) $ (0.03) Diluted $ (0.14) $ (0.02) $ (0.12) $ (0.03) Ensign Energy Services Inc. Consolidated Statements of Cash Flows Three months ended Six months ended June 30 2025 June 30 2024 June 30 2025 June 30 2024 (Unaudited - in thousands of Canadian dollars) Cash provided by (used in) Operating activities Net loss $ (26,549) $ (4,589) $ (22,651) $ (5,630) Items not affecting cash Depreciation 82,767 82,512 164,660 170,765 Loss (gain) on asset sale 7,774 (4,663) 6,549 (6,408) Share-based compensation, net cash settlements 1,292 (383) (5,188) (5,273) Unrealized foreign exchange and other (5,114) (1,240) (6,521) 4,495 Accretion of deferred financing charges 417 417 834 834 Interest expense 18,564 25,538 39,065 52,018 Deferred income taxes (recovery) (6,684) 658 (7,690) (4,113) Funds flow from operations 72,467 98,250 169,058 206,688 Net change in non-cash working capital 34,882 28,152 (7,418) 13,592 Cash provided by operating activities 107,349 126,402 161,640 220,280 Investing activities Purchase of property and equipment (50,639) (48,426) (89,275) (103,195) Proceeds from disposals of property and equipment 1,489 8,116 3,262 11,387 Net change in non-cash working capital (16,479) 6,529 3,227 24,325 Cash used in investing activities (65,629) (33,781) (82,786) (67,483) Financing activities Proceeds from long-term debt 38,462 13,240 48,218 56,714 Repayments of long-term debt (58,163) (92,126) (91,155) (147,024) Lease obligation principal repayments (3,797) (2,505) (8,289) (4,792) Interest paid (18,773) (25,055) (38,970) (52,558) Issuance of common shares under share option plan 10 148 10 196 Purchase of common shares held in trust (534) (450) (1,086) (1,032) Cash used in financing activities (42,795) (106,748) (91,272) (148,496) Net (decrease) increase in cash (1,075) (14,127) (12,418) 4,301 Effects of foreign exchange on cash (617) 245 (721) 424 Cash – beginning of period 16,666 39,108 28,113 20,501 Cash – end of period $ 14,974 $ 25,226 $ 14,974 $ 25,226 Ensign Energy Services Inc. Non-GAAP Measures Adjusted EBITDA, Adjusted EBITDA per common share, working capital and Consolidated EBITDA. These non-GAAP measures do not have any standardized meaning prescribed by IFRS and accordingly, may not be comparable to similar measures used by other companies. The non-GAAP measures included in this news release should not be considered as an alternative to, or more meaningful than, the IFRS measure from which they are derived or to which they are compared. Adjusted EBITDA is used by management and investors to analyze the Company's profitability based on the Company's principal business activities prior to how these activities are financed, how assets are depreciated, amortized and how the results are taxed in various jurisdictions. Additionally, in order to focus on the core business alone, amounts are removed related to foreign exchange, share-based compensation expense, the sale of assets and fair value adjustments on financial assets and liabilities, as the Company does not deem these to relate to its core drilling and well services business. Adjusted EBITDA is not intended to represent income (loss) as calculated in accordance with IFRS. Consolidated EBITDA Consolidated EBITDA, as defined in the Company's Credit Facility agreement, is used in determining the Company's compliance with its covenants. The Consolidated EBITDA is substantially similar to Adjusted EBITDA. Consolidated EBITDA is calculated on a rolling twelve-month basis. Working Capital Working capital is defined as current assets less current liabilities as reported on the consolidated statements of financial position. Certain statements herein constitute forward-looking statements or information (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements generally can be identified by the words "believe", "anticipate", "expect", "plan", "estimate", "target", "continue", "could", "intend", "may", "potential", "predict", "should", "will", "objective", "project", "forecast", "goal", "guidance", "outlook", "effort", "seeks", "schedule", "contemplates" or other expressions of a similar nature suggesting future outcome or statements regarding an outlook. Disclosure related to expected future commodity pricing or trends, revenue rates, equipment utilization or operating activity levels, operating costs, capital expenditures and other prospective guidance provided herein including, but not limited to, information provided in the "Funds Flow from Operations and Working Capital" section regarding the Company's expectation that funds generated by operations combined with current and future credit facilities will support current operating and capital requirements, information provided in the "Financial Instruments" section regarding Venezuela and information provided in the "Outlook" section regarding the general outlook for 2025 and beyond, are examples of forward-looking statements. Forward-looking statements are not representations or guarantees of future performance and are subject to certain risks and unforeseen results. The reader should not place undue reliance on forward-looking statements as there can be no assurance that the plans, initiatives, projections, anticipations or expectations upon which they are based will occur. The forward-looking statements are based on current assumptions, expectations, estimates and projections about the Company and the industries and environments in which the Company operates, which speak only as of the date such statements were made or as of the date of the report or document in which they are contained. These assumptions include, among other things: the fluctuation in commodity prices which may pressure customers to modify their capital programs; the status of current negotiations with the Company's customers and vendors; customer focus on safety performance; royalty regimes and effects of regulation by government agencies; existing term contracts that may not be renewed or are terminated prematurely; the Company's ability to provide services on a timely basis and successfully bid on new contracts; successful integration of acquisitions; future operating costs; the general stability of the economic and political environments in the jurisdictions where we operate; tariffs, economic sanctions, inflation, interest rate and exchange rate expectations; pandemics; and impacts of geopolitical events such as the hostilities in the Middle East and between Ukraine and the Russian Federation, and the global community responses thereto; that the Company will have sufficient cash flow, debt or equity sources or other financial resources required to fund its capital and operating expenditures and requirements as needed; that the Company's conduct and results of operations will be consistent with its expectations; and other matters. The forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such risk factors include, among others: general economic and business conditions which will, among other things, impact demand for and market prices of the Company's services and the ability of the Company's customers to pay accounts receivable balances; volatility of and assumptions regarding commodity prices; foreign exchange exposure; fluctuations in currency and interest rates; inflation; economic conditions in the countries and regions in which the Company conducts business; political uncertainty and civil unrest; the Company's ability to implement its business strategy; impact of competition and industry conditions; risks associated with long-term contracts; force majeure events; artificial intelligence development and implementation; cyber-attacks; determinations the by Organization of Petroleum Exporting Countries (" OPEC") and other countries (OPEC and various other countries are referred to as " OPEC +") regarding production levels; loss of key customers; litigation risks, including the Company's defence of lawsuits; risks associated with contingent liabilities and potential unknown liabilities; availability and cost of labour and other equipment, supplies and services; business interruption and casualty losses; the Company's ability to complete its capital programs; operating hazards and other difficulties inherent in the operation of the Company's oilfield services equipment; availability and cost of financing and insurance; access to credit facilities and debt capital markets; availability of sufficient cash flow to service and repay its debts; impairment of capital assets; the Company's ability to amend or comply with covenants under the credit facility and other debt instruments; actions by governmental authorities; impact of and changes to laws and regulations impacting the Company and the Company's customers, and the expenditures required to comply with them (including safety and environmental laws and regulations and the impact of climate change initiatives on capital and operating costs); safety performance; environmental contamination; shifting interest to alternative energy sources; environmental activism; the adequacy of the Company's provision for taxes; tax challenges; the impact of, and the Company's response to future pandemics; workforce and reliance on key management; technology; cybersecurity risks; seasonality and weather risks; risks associated with acquisitions and ability to successfully integrate acquisitions; risks associated with internal controls over financial reporting; the impact of the ongoing hostilities in the Middle East and between Ukraine and the Russian Federation and the global community responses thereto; the economic and tariff policies pursued by the new United States administration, including the impact of recent United States Government pronouncements regarding imposition of global tariffs and curtailment of our customer's license to operate in Venezuela, which have recently suspend our operations in the area, along with any retaliatory policies by other governments and other risks and uncertainties affecting the Company's business, revenues and expenses. In addition, the Company's operations and levels of demand for its services have been, and at times in the future may be, affected by political risks and developments, such as tariffs, economic sanctions, expropriation, nationalization, or regime change, and by national, regional and local laws and regulations such as changes in taxes, royalties and other amounts payable to governments or governmental agencies, environmental protection regulations, pandemics, pandemic mitigation strategies and the impact thereof upon the Company, its customers and its business, ongoing hostilities in the Middle East and between Ukraine and the Russian Federation, including recent developments in discussions regarding cessation of hostilities in Ukraine and pursuit of a resolution of the dispute, related potential future impact on the supply of oil and natural gas to Europe by Russia and the impact of global community responses to the ongoing conflicts, including the impact of shipping through the Red Sea and governmental energy policies, laws, rules or regulations that limit, restrict or impede exploration, development, production, transportation or consumption of hydrocarbons and/or incentivize development, production, transportation or consumption of alternative fuel or energy sources. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results from operations may vary in material respects from those expressed or implied by the forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are interdependent upon other factors, and the Company's course of action would depend upon its assessment of the future considering all information then available. Unpredictable or unknown factors not discussed herein could also have material adverse effects on forward-looking statements. Readers are cautioned that the lists of important factors contained herein are not exhaustive. For additional information on these and other factors that could affect the Company's business, operations or financial condition, refer to the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2024 available on SEDAR+ at The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law.
The Market Online
33 minutes ago
- The Market Online
Turbulence ahead? Magellan Aerospace emerges as a portfolio stabilizer
Canadian investors are increasingly prioritizing domestic, stable investments amid rising interest rates, inflation, and global uncertainty, with nearly half of younger investors planning portfolio adjustments within six months Magellan Aerospace Corp. (TSX:MAL) stands out as a defensive stock, offering lower volatility and strong returns making it a compelling option for long-term resilience Analysts project continued growth for Magellan, with earnings estimates of $0.98 per share and a price target of C$18.15, reinforcing its appeal as a stabilizing force in volatile markets Magellan Aerospace stock (TSX:MAL) last traded at C$17.15 With rising interest rates, inflationary pressures, tariffs, and global political uncertainty, the search for stability has never been more urgent. According to the latest Broadridge Investor study, more than 80 per cent of Canadians are prioritizing homegrown investments. And nearly half of Gen Z and Millennial investors plan to adjust their portfolios in the next six months, seeking resilience and reliability. Enter Magellan Aerospace Corp. (TSX: MAL)— a Canadian industrial company with a market cap of C$973 million. Working out of Mississauga, Magellan designs and manufactures critical aerospace components for defense, space, and commercial aviation markets across North America and Europe. This content has been prepared as part of a partnership with Magellan Aerospace Corp. and is intended for informational purposes only. What makes Magellan stand out? It's a defensive stock—meaning its demand remains relatively stable, even during economic downturns. With a beta of just 0.63, Magellan's stock is less volatile than the broader market. And the numbers speak volumes. Magellan has delivered a year-to-date return of over 88 per cent, outperforming the TSX Composite by nearly eightfold. Its 5-year return exceeds 196 per cent, making it a compelling choice for long-term investors seeking shelter from market storms. Analysts project continued earnings growth, with this fiscal year estimates at $0.98 a share, and a price target averaging C$18.15, suggesting stable investor confidence In a time when volatility is the norm, Magellan Aerospace offers something rare: consistency, performance, and Canadian resilience. For investors looking to fortify their portfolios, Magellan may be the defensive anchor they've been searching for. Magellan Aerospace stock (TSX: MAL) closed 0.41 per cent higher on Thursday at C$17.15 and has risen 70.31 per cent since the year began. Join the discussion: Find out what the Bullboards are saying about Magellan Aerospace and check out Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here .
