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: 1.54
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

$1.85

26 Jan
2026

0.000

OPEN

$1.85

0.000

HIGH

$1.85

0

LOW

$1.85

TARGET
$1.883 1.8% upside
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FNARENA'S MARKET CONSENSUS FORECASTS
BGL: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 3.5 11.0 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 16.9 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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-3.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx505.8 M
Book Value Per Share xxxxxxxxxxxxxxx55.6
Net Operating Cash Flow xxxxxxxxxxxxxxx127.9 M
Net Profit Margin xxxxxxxxxxxxxxx-9.07 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-6.65 %
Return on Invested Capital xxxxxxxxxxxxxxx-4.67 %
Return on Assets xxxxxxxxxxxxxxx-3.73 %
Return on Equity xxxxxxxxxxxxxxx-6.65 %
Return on Total Capital xxxxxxxxxxxxxxx7.81 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-62.8 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx6 M
Long Term Debt xxxxxxxxxxxxxxx336 M
Total Debt xxxxxxxxxxxxxxx342 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx152 M
Price To Book Value xxxxxxxxxxxxxxx1.62

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx192.1 M
Capex % of Sales xxxxxxxxxxxxxxx37.97 %
Cost of Goods Sold xxxxxxxxxxxxxxx407 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx20 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

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Ord Minnett

12/12/2025

1

Buy

$1.60

-13.51%

Ord Minnett has upgraded its 2026 commodity outlook after a year of supply-driven price strength, reflecting increased confidence amid improving, though uneven, global growth.

Gold is the standout, with the 2026 price forecast lifted 8% to US$4,200/oz, broadly in line with spot. Copper price forecast for 2026 lifted by 3% and coking coal by 2%, while nickel price trimmed by -4% and NdPr by -2%.

The broker revised the long-run forecast for AUD to US$0.70 from US$0.75, which is a key driver of earnings and valuation upgrades across the sector.

Overall, the broker reckons ongoing supply disruptions and underinvestment will support firmer commodity prices and stronger miner cash flows.

For Bellevue Gold, the broker lifted FY26 EPS forecast by 21% and FY27 by 17%. Buy retained, and target raised to $1.60 from $1.40.

Bell Potter

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

Moelis

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

21/01/2026

3

Neutral

$1.05

-43.24%

A mixed December quarter leaves Bellevue Gold heavily reliant on a stronger second half according to Jarden. Gold production of 32koz and sales of 31.9koz were broadly in line, while AISC of $2,989/oz improved q/q but missed forecasts due to higher royalties and a lower inventory credit.

The broker retains its 140koz FY26 production forecast, although notes operational contingency has eroded and the required 2H run rate of around 160kozpa skews risk to the downside.

Neutral retained. Target price $1.05.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 3.80 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 14.80 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxxxxxxxxxx xxx

$xx.xx

xx.xx%

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BGL STOCK CHART

FNArena News on BGL

1
Australian Broker Call *Extra* Edition – Jan 27, 2026

Jan 27 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Jan 21, 2026

Jan 21 2026 - Daily Market Reports
3
Australian Broker Call *Extra* Edition – Jan 15, 2026

Jan 15 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Jan 14, 2026

Jan 14 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Dec 24, 2025

Dec 24 2025 - Daily Market Reports

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