** 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;))