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Westgold Resources (WGX) $2.12

WA-based Westgold (WGX) is a $1bn gold miner which initially caught our attention yesterday, closing up +1.4% in a session which saw weakness across the sector, including Gold Road Resources (GOR) -1.6% and Newmont Corp (NEM) -1.3%. At this stage, WGX is an ASX300 stock, but if the Gold Sector continues to outperform the broad market, it may advance to the ASX200, i.e. some of the smaller and under-pressure stocks in the ASX200 have a market cap of ~$1.5bn, such as Star Entertainment (SGR) and Genesis Minerals (GMD).

  • We are monitoring WGX carefully, it might have already nudged Northern Star (NST) out of our Active Growth Portfolio if it was in the ASX200.
MM is bullish towards WGX into 2024
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Westgold Resources (WGX)
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