** Macquarie cuts target price for Westgold Resources WGX.AX by 14% to A$3.20
** WGX up 0.9% at A$2.28 after falling as much as 1.8% earlier in the day
** Gold producer trims FY25 production forecast to between 330,000 and 350,000 ounces from 400,000 to 420,000 ounces previously expected
** Macquarie says forecast below its estimate of 507,000 ounces
** Macquarie assumes slower ramp-up of Bluebird and Beta Hunt mines, and softer grades at Big Bell, will carry over into FY26
** Macquarie, hence, cuts production estimate for FY26 by 10% and ~4% thereafter
** "Despite our softened outlook we still anticipate a 32% YoY production lift into FY26, noting WGX anticipates to produce at '+400kzpa' in 4QFY25" - Macquarie
** Stock down 20.1% this year, as of last close
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.