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

$1.195

20 Feb
2025

-0.015

OPEN

$1.20

-1.24%

HIGH

$1.20

6,631,385

LOW

$1.18

TARGET
$1.688 41.2% 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 9.1 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 40.1% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 13.0 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

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

29/01/2025

1

Outperform

$1.70

42.26%

Due to the pre-release of most of Bellevue Gold's metrics for the 2Q25 activities report, Macquarie notes all-in-sustaining costs were better than forecast by -6%, and FY25 guidance met expectations.

Production of 26.1koz was in line with the broker's estimate, and management pointed to a considerably more robust 2H25, with "positive momentum" in December and January.

The company expects production of 90koz in 2H25 and confirmed the 4Q25 production target rate of over 200koz per annum, the analyst notes.

Macquarie tweaks EPS forecasts by less than 2% for FY25/FY26.

Outperform rating is maintained. Target price retained at $1.70.

FORECAST
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 6.80 cents.
Macquarie forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.50 cents.

Ord Minnett

xx/xx/xxxx

3

xxxxxxx xx xxxx xxxx xxxxxxx

$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

Jarden

xx/xx/xxxx

4

xxxxxxxxxx xx xxxxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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Moelis

30/01/2025

3

Hold

$1.20

0.42%

Following additional details on Bellevue Gold's 2Q25 performance including production and costs, and guidance for FY25, Moelis slightly lifted production estimate for the year given the reiteration of 2H 90koz guidance.

Production estimate is up 6% to 150.1koz, sitting within the company's guidance of 150-165koz, though the broker acknowledges a lot needs to go right over the next 5 months.

The broker lowered the cost estimate to $2,139/oz following Bellevue's revised guidance of $1900-2100/oz for FY25.

Hold rating retained and target price is $1.2.

FORECAST
Moelis forecasts a full year FY25 dividend of 0.00 cents and EPS of 8.90 cents.
Moelis forecasts a full year FY26 dividend of 0.00 cents and EPS of 15.80 cents.

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

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