Fact based stock research
West African Resources (ASX:WAF)

AU000000WAF6

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

West African Resources stock research in summary

westafricanresources.com

ANALYSIS: With an Obermatt Combined Rank of 98 (better than 98% compared with investment alternatives), West African Resources (Gold Production, Australia) shares have much better financial characteristics than comparable stocks. Shares of West African Resources are a good value (attractively priced) with a consolidated Value Rank of 83 (better than 83% of alternatives), show above-average growth (Growth Rank of 67), and are safely financed (Safety Rank of 84), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 98, is a strong buy recommendation based on West African Resources's financial characteristics. As the company West African Resources's key financial metrics all exhibit excellent performance, such as good value (Obermatt Value Rank of 83), above-average growth (Obermatt Growth Rank of 67), and indicate that the company is safely financed (Obermatt Safety Rank of 84), it is a solid stock investment where the risk of paying too much for the share is limited, unless the company has a bleak future. Such good financial performance can indicate that the company's future might actually be challenging, as it may be difficult to maintain the good performance. If they are safely financed and have been growing above average, and are still a good value, it means that the market is keeping prices low, for a reason which may become clearer over time. We recommend evaluating the future of West African Resources. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	83
Growth Rank	67
Safety Rank	84
Combined Rank	98

Country	Australia
Industry	Gold Production
Index	ASX 300, Gold
Size class	Small

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: West African Resources

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	19	44	59	83
GROWTH
GROWTH	55	19	79	67
SAFETY
SAFETY	18	94	90	84
SENTIMENT
SENTIMENT	6	98	69	^new
360° VIEW
360° VIEW	1	77	100	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better West African Resources is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	19	44	59	83
GROWTH
GROWTH	55	19	79	67
SAFETY
SAFETY	18	94	90	84
COMBINED
COMBINED	10	50	100	98

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of West African Resources the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 83 (better than 83% compared with alternatives) for 2025, West African Resources shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for West African Resources. Price-to-Profit (also referred to as price-earnings, P/E) is 100 which means that the stock price compared with what market professionals expect for future profits is lower than for 100% of comparable companies, indicating a good value concerning West African Resources's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 44, which means that the stock price is lower as regards to invested capital than for 44% of comparable investments. On the other hand, Price-to-Sales is less favorable than 54% of alternatives (only 46% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than 21% of comparable companies, making the stock more expensive as regards to the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 83, is a buy recommendation based on West African Resources's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high in respect to expected revenues, it means that the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than pay it out to shareholders, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	34	42	37	46
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	49	82	95	100
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	18	58	35	44
DIVIDEND YIELD
DIVIDEND YIELD	1	1	34	79
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	19	44	59	83

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of West African Resources; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 67 (better than 67% compared with alternatives), West African Resources shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for West African Resources. Sales Growth has a rank of 98 which means that currently, professionals expect the company to grow more than 98% of its competitors. Both Profit Growth, with a rank of 63, and Stock Returns, with a rank of 85, are also above average. But Capital Growth only has a rank of 1, which means that, currently, professionals expect the company to grow its invested capital less than 99% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 67, is a buy recommendation for growth and momentum investors. That may be a good sign if the company is already well positioned and doesn't require more investments at this time. They may focus on growing the top (revenues) and bottom (profits) lines, recently rewarded with above-average stock returns for shareholders. But it may also be a sign of danger as the company is falling back with capital investment activities concerning competition. This requires further analysis of corporate communications. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	1	11	100	98
PROFIT GROWTH
PROFIT GROWTH	67	38	53	63
CAPITAL GROWTH
CAPITAL GROWTH	85	87	11	1
STOCK RETURNS
STOCK RETURNS	63	13	97	85
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	55	19	79	67

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of West African Resources.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 84 (better than 84% compared with alternatives) for 2025, the company West African Resources has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of West African Resources is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for West African Resources. Liquidity is at 100, meaning the company generates more profit to service its debt than 100% of its competitors. This indicates that the company is safer when it comes to debt service. But Refinancing is riskier at a rank of 49, which means that the portion of the debt that is about to be refinanced is above average. It has more debt in the refinancing stage than 51% of its competitors. Leverage is also high at a rank of 46, which means that the company has an above-average debt-to-equity ratio. It has more debt than 54% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 84 (better than 84% compared with alternatives), West African Resources has a financing structure that is significantly safer than that of its competitors. High Leverage (a low Obermatt Leverage Rank) is good in good times, because it usually indicates that shareholders get higher returns. The good Liquidity performance of the company is an indicator that this is the case. However, if you expect an economic downturn, you may stay clear of this stock because they have an above-average debt level that needs refinancing soon. If the company is sailing with good winds, as may be visible from the Growth and Sentiment performance, the refinancing risk may be lower than the low Refinancing rank suggests. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	4	94	64	46
REFINANCING
REFINANCING	1	59	61	49
LIQUIDITY
LIQUIDITY	94	98	100	100
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	18	94	90	84

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of West African Resources and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	83	77	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	83	50	^new
PRO HOLDINGS
PRO HOLDINGS	20	89	96	^new
MARKET PULSE
MARKET PULSE	1	61	7	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	6	98	69	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for West African Resources.
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