BELLEVUE GOLD LIMITED (BGL)
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BGL

BGL - BELLEVUE GOLD LIMITED

FNArena Sector : Gold & Silver
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 2.73
Index: ASX200 | ASX300 | ALL-ORDS

Bellevue Gold is an Australian gold producer. It is currently advancing the historic Bellevue gold mine in Western Australia, finding several new high grade lodes. The company listed on the ASX in 2005.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$0.86

19 May
2025

0.000

OPEN

$0.86

0.000

HIGH

$0.86

0

LOW

$0.86

TARGET
$1.40 62.8% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
BGL: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 6.5 4.3 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A - 33.5% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 19.8 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/08 - (franking Ex-Di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx6.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx298.4 M
Book Value Per Share xxxxxxxxxxxxxxx47.6
Net Operating Cash Flow xxxxxxxxxxxxxxx114.0 M
Net Profit Margin xxxxxxxxxxxxxxx25.27 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx15.28 %
Return on Invested Capital xxxxxxxxxxxxxxx11.08 %
Return on Assets xxxxxxxxxxxxxxx9.17 %
Return on Equity xxxxxxxxxxxxxxx15.28 %
Return on Total Capital xxxxxxxxxxxxxxx11.42 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-95.6 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx58 M
Long Term Debt xxxxxxxxxxxxxxx250 M
Total Debt xxxxxxxxxxxxxxx308 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx49 M
Price To Book Value xxxxxxxxxxxxxxx3.75

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx210.6 M
Capex % of Sales xxxxxxxxxxxxxxx70.57 %
Cost of Goods Sold xxxxxxxxxxxxxxx200 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx17 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Ord Minnett

03/04/2025

3

Hold

$1.35

56.98%

Ord Minnett has broadly reduced its commodity price forecasts, with the exception of gold and neodymium-praseodymium.

The broker cites growing concerns over weakening Chinese steel demand and the potential global trade and economic impacts stemming from proposed US tariffs.

The broker's 2025 iron ore price forecast falls by -3%, while metallurgical coal and thermal coal price estimates fall by -18% and -17%, respectively.

On a sector level, Ord Minnett prefers base metal producers over the bulk miners, noting limited appeal among the lithium and coal producers.

Rio Tinto is preferred over over BHP Group among the large diversified miners, while South32, Capstone Copper, and MAC Copper are the analyst's top picks for base metals exposure.

The broker keeps its $1.35 target and Hold rating for Bellevue Gold. Among the large gold exposures, the analysts like Buy-rated Newmont Corp.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

4

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

01/05/2025

4

Underweight

$0.77

-10.47%

Bellevue Gold reported March quarter production of 25.1koz and all-in-sustaining-costs of $3,124/oz, with pro forma cash of $89m post-placement.

Management's FY25 guidance was downgraded to 129–134koz, with longer-term output also revised lower. Jarden expects strong June quarter output (40–45koz), forecasting free cash flow of $130m by FY-end, but remains cautious on FY26–29 delivery and financing headroom.

Jarden lifts FY25/26/27 EPS forecasts with lower costs, though risks remain around hedge mark-to-market losses, of -$350m, and $100m debt maturity from 2027.

Jarden warns the mine plan remains provisional and requires lender re-approval mid-year.

Underweight rating retained. Jarden highlights potential for M&A interest, but also sees operational confidence as a pre-requisite for re-rating.

Target price lifts to 77c from 71c.

FORECAST
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 4.70 cents.
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 8.80 cents.

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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BGL STOCK CHART

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