Want to see AU:BGL full AI Analyst Report?
Top Page
Bellevue Gold Limited
(Sydney:BGL)
Select Model
Select Model
Rating:45Neutral
Price Target:
AU$1.00
▼(-20.63% Downside)
Action:Reiterated
Date:06/12/26
Overall score is weighed down primarily by weak financial performance—loss-making margins and negative free cash flow—despite some revenue growth and moderate leverage. Technicals add further pressure as the stock trades below major moving averages with bearish momentum. Valuation is also constrained by negative earnings and no stated dividend yield.
Positive Factors
Sustained revenue growth
Consistent top-line growth demonstrates ongoing demand for Bellevue’s gold production and supports the case for expanding throughput and extending mine life. Over 2–6 months this revenue trend underpins capacity to invest in operations and exploration without relying solely on financing.
Negative Factors
Negative profitability and falling margins
Sustained negative net profit and EBIT margins, plus a declining gross margin, indicate the business is not currently converting revenue into lasting profits. Over months this erodes retained earnings, limits reinvestment capacity, and raises reliance on external capital to fund development.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth
Consistent top-line growth demonstrates ongoing demand for Bellevue’s gold production and supports the case for expanding throughput and extending mine life. Over 2–6 months this revenue trend underpins capacity to invest in operations and exploration without relying solely on financing.
Read all positive factors
Bellevue Gold Limited (BGL) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$1.88B
Dividend YieldN/A
Average Volume (3M)19.89M
Price to Earnings (P/E)―
Beta (1Y)1.43
Revenue Growth17.08%
EPS Growth-158.79%
CountryAU
Employees210
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.04
Shares Outstanding1,491,372,600
10 Day Avg. Volume16,896,083
30 Day Avg. Volume19,892,541
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.44
Price to Sales (P/S)2.33
P/FCF Ratio-22.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$1.71Price Target Upside35.49% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.14
Revenue Forecast (FY)AU$902.42M
Bellevue Gold Limited Business Overview & Revenue Model
Company Description
Bellevue Gold Limited, along with its associated companies, is actively involved in the exploration and evaluation of gold deposits across Australia. The firm holds a 100% interest in several prominent projects, including the Bellevue gold project...
How the Company Makes Money
BGL makes money primarily by producing and selling gold. Its main revenue stream is the sale of refined gold (and/or gold doré) generated from mining gold-bearing ore, processing it through a plant to recover gold, and then selling the resulting g...
Bellevue Gold Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 552.23M | 505.84M | 298.41M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 90.14M | 144.97M | 109.22M | -1.57M | -1.07M | -841.00K |
| EBITDA | 129.56M | -405.00K | 111.19M | -22.99M | -16.52M | -11.40M |
| Net Income | -55.32M | -45.89M | 75.42M | -24.79M | -17.77M | -12.24M |
Balance Sheet | ||||||
| Total Assets | 1.25B | 1.25B | 934.75M | 629.65M | 369.62M | 242.00M |
| Cash, Cash Equivalents and Short-Term Investments | 165.06M | 151.59M | 48.69M | 64.72M | 117.47M | 94.09M |
| Total Debt | 339.68M | 342.29M | 307.76M | 130.23M | 1.01M | 1.11M |
| Total Liabilities | 421.67M | 424.93M | 375.11M | 202.11M | 19.09M | 21.33M |
| Stockholders Equity | 830.95M | 820.08M | 559.64M | 427.55M | 350.52M | 220.68M |
Cash Flow | ||||||
| Free Cash Flow | -38.20M | -52.91M | -96.63M | -262.99M | -111.49M | -67.80M |
| Operating Cash Flow | 145.58M | 139.14M | 113.96M | -13.28M | -8.86M | -5.55M |
| Investing Cash Flow | -191.22M | -185.30M | -217.34M | -249.72M | -102.71M | -57.37M |
| Financing Cash Flow | 124.50M | 149.07M | 87.34M | 210.22M | 137.36M | 133.14M |
Bellevue Gold Limited Technical Analysis
Positive
1.26
Price Trends
1.35
Positive
1.47
Negative
1.51
Negative
Market Momentum
-0.01
Negative
56.76
Neutral
58.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:BGL, the sentiment is Positive. The current price of 1.26 is below the 20-day moving average (MA) of 1.28, below the 50-day MA of 1.35, and below the 200-day MA of 1.51, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 56.76 is Neutral, neither overbought nor oversold. The STOCH value of 58.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:BGL.
Bellevue Gold Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | AU$2.19B | 9.16 | 68.49% | ― | 82.10% | 237.67% | |
67 Neutral | AU$1.99B | 12.30 | 17.01% | ― | 10.67% | ― | |
66 Neutral | AU$5.76B | 12.03 | 9.94% | 2.72% | 13.34% | -15.96% | |
62 Neutral | AU$1.82B | 15.47 | 12.77% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | AU$652.39M | 39.96 | 6.29% | ― | ― | ― | |
45 Neutral | AU$1.88B | -29.51 | -6.70% | ― | 17.08% | -158.79% |
* Basic Materials Sector Average
AU:BGL
Bellevue Gold Limited
1.46
0.57
63.48%
AU:RSG
Resolute Mining
1.02
0.37
55.73%
AU:ALK
Alkane Resources Ltd
1.47
0.64
76.51%
AU:OBM
Ora Banda Mining
1.32
0.63
93.38%
AU:RMS
Ramelius Resources Limited
3.48
0.74
27.01%
AU:BC8
Black Cat Syndicate Ltd.
1.05
0.16
18.75%
Bellevue Gold Limited Corporate Events
Bellevue Gold Expands Share Base With Conversion of Unquoted Securities
Jul 29, 2026
Bellevue Gold Limited has issued 716,963 new ordinary fully paid shares following the conversion or exercise of previously unquoted options or other convertible securities. The issuance, notified to the ASX on 29 July 2026 with an issue date of 27...
Bellevue Gold Lifts Cash Balance on Strong Quarterly Operating Flows
Jul 27, 2026
Bellevue Gold Limited reported strong operating cash generation for the quarter ended 30 June 2026, with receipts from customers of A$174.4 million and net operating cash flow of A$87.4 million. The company continued to invest in its asset base, s...
Bellevue Gold lifts FY27 guidance after record year and hedge book reduction
Jul 27, 2026
Bellevue Gold reported record annual production of 143,539 ounces of gold in FY26, delivering above the midpoint of its guidance and within cost and capital expenditure targets. June quarter output rose to 41,643 ounces with strong recoveries and ...
Bellevue Gold Announces Lapse of 382,238 Performance Rights
Jul 10, 2026
Bellevue Gold Limited has notified the market of the lapse of 382,238 performance rights, which ceased because the vesting conditions were not met or can no longer be satisfied. The cessation of these securities slightly adjusts the company’...
Bellevue Gold Expands Share Base Through Conversion of Unquoted Securities
Jul 8, 2026
Bellevue Gold Limited has reported the issue of 78,382 new ordinary fully paid shares following the exercise or conversion of previously unquoted securities. The additional shares marginally expand the company’s equity base and reflect ongoi...
Bellevue Gold Beats Guidance as Cash Rises and Hedge Book Shrinks
Jul 6, 2026
Bellevue Gold reported a strong June 2026 quarter, producing 41,643 ounces of gold at an average head grade of 4.5 grams per tonne and lifting FY26 output to about 144,000 ounces, above the midpoint of its 130,000 to 150,000 ounce guidance range. ...
Bellevue Gold issues new shares following conversion of unquoted securities
Jul 6, 2026
Bellevue Gold Limited has notified the market of the issue of 147,584 ordinary fully paid shares on 2 July 2026, following the exercise or conversion of previously unquoted securities. The move modestly increases the company’s equity base an...
Bellevue Gold Issues New Shares on Conversion of Unquoted Securities
Jun 17, 2026
Bellevue Gold Limited has issued 5,404 new ordinary fully paid shares following the conversion of previously unquoted options or other unquoted convertible securities. The modest equity issuance marginally increases the company’s share capit...
Bellevue Gold on Track to Beat FY26 Output Midpoint as Tribune South Drilling Hits High Grades
Jun 16, 2026
Bellevue Gold says production for the 11 months to 31 May 2026 reached about 130,000 ounces at an estimated head grade of 4.6 grams per tonne, putting it on track to beat the midpoint of its full-year output guidance while keeping all-in sustainin...
Bellevue Gold Issues New Shares on Exercise of Unquoted Securities
Jun 10, 2026
Bellevue Gold Limited has notified the market of the issue of 49,821 ordinary fully paid shares following the exercise or conversion of previously unquoted securities. The new shares, issued on 5 June 2026, represent a small expansion of the compa...
Bellevue Gold awards A$850m underground mining contract to Barminco
May 12, 2026
Bellevue Gold has awarded a four-year underground mining contract for its Bellevue Gold Mine in Western Australia to Barminco Limited, valued at about A$850 million and commencing on 1 August 2026, with an option to extend by up to 12 months. The ...
Bellevue Gold outlines progress and risk management at Macquarie Australia Conference
May 6, 2026
Bellevue Gold used its presentation at the Macquarie Australia Conference 2026 to outline its current status as a company that is delivering on plans, de-risking its operations and seeking to unlock further upside. The materials emphasise that the...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.