Bellevue Gold (ASX: BGL) $1.415
BGL -1%was mildly lower today, though most gold stocks were, after a softer-than-expected September quarter, with production falling 15% QoQ to 35,585oz as the new mining contractor ramped up more slowly than planned.
Bellevue Gold Ltd (BGL)
BGL $1.40
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Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 1.40
- Change
- ▼ -0.03 (-1.76)
- Bid / Ask
- 1.40 - 1.40
- Volume
- 5,402,496
- Turnover
- 7,602,999
- Open
- 1.40
- Day Range
- 1.38 - 1.44
- VWAP
- 1.41
- Prev Close
- 1.42
- Last Trade
- 13/11 4:10pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Basic Materials
- Shares Issued
- 1,491,502,384
- NTA/Share
- 0.56
- Last Dividend
- —
- Dividend Ex Date
- —
- Dividend Pay Date
- —
Current (AUD) · FY2026
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 576.26
- EBITDA
- 88.69
- Profit
- 7.08
- Earnings Per Share (EPS)
- 0.00
- Dividend Per Share (DPS)
- —
- Yield %
- 0.00
- Market Cap
- 2,080.65
- Price to Earnings Ratio (P/E)
- 296.81
Estimates (AUD) · FY2027
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
- Revenue
- 758.00
- EBITDA
- 345.00
- Profit
- 79.90
- Earnings Per Share (EPS)
- 0.05
- Dividend Per Share (DPS)
- 0.00
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Overvalued
- Economic Moat
- None
- Financial Health
- Moderate
- Uncertainty
- Very High
Morningstar Quantitative Rating as of 11 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 0.86 Fair value 1.26 One-star price 1.86
Morningstar Quantitative Rating as of 11 NOV 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 1.26
- Price / Fair Value
- 1.16
- Valuation
- Overvalued
- Uncertainty
- Very High
Morningstar Quantitative Rating as of 11 NOV 2026. The slider runs from the five-star price (0.86) to the one-star price (1.86).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): AUD/AUD |
| Exchange Rate: 1.0000 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 1.42 |
| Price - 12 month high | 1.92 |
| Price - 12 month low | 1.16 |
| Pricing date | 11 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 5.28 |
| Market capitalization | 2,117.93 |
| 12 Month High price date | 27 JAN 2026 |
| 12 Month Low price date | 20 JUL 2026 |
| Volume - avg. trading volume for the last 3 months | 6.32 |
| Price - 1 Day % Change | -3.07% |
| Price - 13 week price percent change | -8.39% |
| Price - 26 week price percent change | -11.53% |
| Price - 5 Day % Change | 8.40% |
| Price - 52 week price percent change | 13.60% |
| Price - YTD price percent change | -16.72% |
| Price % Change Month To Date | -4.38% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | 0.005 |
| EPS excluding extraordinary items - trailing 12 month | 0.005 |
| EPS Normalized - most recent fiscal year | 0.010 |
| Revenue/share - most recent fiscal year | 0.382 |
| Revenue/share - trailing 12 month | 0.382 |
| Book value per share - most recent fiscal year | 0.561 |
| Book value per share - most recent half-year | 0.561 |
| Book value (tangible) per share - most recent fiscal year | 0.561 |
| Book value (tangible) per share - most recent half-year | 0.561 |
| Cash per share - most recent fiscal year | 0.131 |
| Cash per share - most recent half-year | 0.131 |
| Cash Flow per share - most recent fiscal year | 0.163 |
| Cash Flow per share - trailing 12 month | 0.163 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.000 |
| EBITD per share - trailing 12 month | 0.059 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.005 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.005 |
| EPS including extraordinary items - most recent fiscal year | 0.005 |
| EPS including extraordinary items - trailing 12 month | 0.005 |
| Free Cash Flow per share - trailing 12 month | 0.046 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | 302.13 |
| P/E Normalized, most recent fiscal year | 148.38 |
| Price to sales - most recent fiscal year | 3.71 |
| Price to Tangible Book - most fiscal year | 2.53 |
| Price to Free Cash Flow per Share - most recent fiscal year | 30.95 |
| Price to Cash Flow per share - trailing 12 month | 8.71 |
| Price to Book - most recent fiscal year | 2.53 |
| P/E excluding extraordinary items high, trailing 12 months | 348.94 |
| P/E excluding extraordinary items low, trailing 12 months | 277.66 |
| Net Debt, LFI | 174.62 |
| Net Debt, LFY | 141.40 |
| Dividend Yield - 5 Year Average | — |
| Dividend Yield - indicated annual dividend divided by closing price | — |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.00% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | 69.12 |
| LT debt/equity - most recent fiscal year | 33.47% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 40.30% |
| LT debt/equity - most recent half-year | 40.06% |
| Total debt/total equity - most recent half-year | 40.88% |
| Free Cash Flow - trailing 12 month | 266.97 |
| Payout ratio - trailing 12 month | — |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 576.26 |
| Revenue - trailing 12 month | 576.26 |
| EBITD - most recent fiscal year | 88.69 |
| EBITD - trailing 12 month | — |
| Earnings before taxes - most recent fiscal year | 8.52 |
| Earnings before taxes - trailing 12 month | 8.52 |
| Net Income available to common - most recent fiscal year | 7.08 |
| Net Income available to common - trailing 12 months | 7.08 |
| Earnings before taxes Normalized - most recent fiscal year | 17.35 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.01 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | 1.23% |
| Net Profit Margin % - trailing 12 month | — |
| Operating margin - 1st historical fiscal year | 5.82% |
| Operating margin - trailing 12 month | — |
| Pretax margin - trailing 12 month | — |
| Pretax margin - 1st historical fiscal year | 1.48% |
| Operating Margin - 5 year average | — |
| Pretax Margin - 5 year average | — |
| Free Operating Cash Flow/Revenue, 5 Year Average | — |
| Free Operating Cash Flow/Revenue, TTM | — |
| Net Profit Margin - 5 year average | — |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | 0.56% |
| Return on average assets - trailing 12 month | — |
| Return on average equity - most recent fiscal year | 0.85% |
| Return on average equity - trailing 12 month | — |
| Return on average assets - 5 year average | — |
| Return on average equity - 5 year average | — |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | — |
| EPS growth rate, 5 year | — |
| Growth rate% - dividend, 3 year | — |
| Revenue/share (5 yr growth) | — |
| Growth rate% - Revenue, 3 year | — |
| Growth rate% - EPS, 3 year | — |
| Book value per share growth rate, 5 year | 16.89% |
| Capital Spending growth rate, 5 year | 23.17% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | 2029 | |||||
| Estimate breakdown | ||||||||
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (AUD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Opinion
Bellevue Gold Limited (ASX: BGL) $1.53
Bellevue Gold (BGL) has emerged from its difficult 2025 in far better shape, with FY26 production of 143.5koz in the upper half of guidance, cash and gold reaching $206m and forward sales commitments cut by 55%. However, it remains a relatively small, single-asset producer in WA’s northern Goldfields, with high All-In-Sustaining-Cost (AISC) of $2,600–2,900/oz and a valuation still carrying the scars of its operational problems.
Bellevue Gold (ASX: BGL) $1.625
Bellevue Gold (BGL) delivered a much-improved FY26 result yesterday, but the numbers again highlight just how costly its legacy hedge book has been during one of the strongest gold markets on record. The encouraging part is that the end of this issue is now coming into sight.
Trade Alerts – Emerging Companies Portfolio
We are making two changes to the Emerging Companies Portfolio
Bellevue Gold (BGL) $1.12
During one of the most bullish periods for gold prices in decades, BGL shares have fallen ~30% over the past 12-months – a diabolical performance considering the extreme tailwinds. They certainly haven’t enjoyed an easy transition from explorer to producer, having flicked the switch into commercial production early in 2024.
Bellevue Gold Ltd (BGL) 86c
BGL is a rare friendless gold stock due to its operational setbacks, production downgrades, and balance sheet concerns. However, in an environment where it’s cheaper to buy a gold mine than build one, this $1.238bn company could be attracting the attention of polished operators thinking we could do a better job.
Bellevue Gold Ltd (BGL) $1.56
BGL surged 5.8% on Monday, making it the main board's fifth-best performer. However, it's down -6.9% Year-to-date compared to heavyweight Evolution mining (EVN), which is up +34%, a fairly good gauge of the sector through 2024.
Bellevue Gold Ltd (BGL) $1.40
This month, BGL plunged the most in nine years after raising $150mn to repay more than half of its debt. At the same time, Barrenjoey downgraded the stock to “Underweight” with a $1.25 price target. The new shares were issued at $1.55, and buyers are already showing an almost 10% loss - this is another overhang that will probably see plenty of selling into strength, and take time to work through.
Bellevue Gold Ltd (BGL) $1.96
BGL rallied +6.5% on Thursday, making it the best-performing ASX200 stock. The Gold Sector enjoyed a solid move following a strong $US30 rally by the underlying precious metal into the Independence Day break, e.g. Evolution Mining (EVN) +4.1%, Newmont (NEM) +3.2%, and Gold Road (GOR) +2.6%.
Bellevue Gold Ltd (BGL) $1.84
BGL has advanced over 15% so far in 2024, although recent bond jitters have dampened the performance of the $2.2bn WA-based gold miner. On Thursday, a 4.8mn block of BGL exchanged hands at $1.93, arguably a good sign that the market still has the appetite for the miner around $2, assuming we don’t hear that directors were the sellers, investors wouldn’t want another Boss Energy (BOE)!
Action
Updated
20/10/2026
15:51
BGL
Updated 20/10/2026 15:51
MM remains long & bullish BGL ~$1.40
Updated
29/09/2026
09:56
BGL
Updated 29/09/2026 09:56
MM is long and bullish towards BGL
Updated
23/09/2026
09:19
BGL
Updated 23/09/2026 09:19
MM remains long & bullish BGL
Updated
31/10/2025
09:44
BGL
Updated 31/10/2025 09:44
MM are buying BGL in the Emerging Companies Portfolio, targeting a 4% weighting around $1.15
Updated
29/10/2025
10:19
BGL
Updated 29/10/2025 10:19
MM is bullish on BGL ~$1.10, as a high-risk turnaround opportunity
Updated
07/08/2025
17:43
BGL
Updated 07/08/2025 17:43
MM is cautiously bullish on BGL
Updated
22/10/2024
09:36
BGL
Updated 22/10/2024 09:36
MM is cautiously bullish towards BGL
Updated
30/07/2024
09:44
BGL
Updated 30/07/2024 09:44
MM is neutral towards BGL
Updated
05/07/2024
09:59
BGL
Updated 05/07/2024 09:59
MM is bullish towards BGL
Updated
31/05/2024
09:42
BGL
Updated 31/05/2024 09:42
MM is bullish towards BGL through 2024/5
Business Summary
Bellevue Gold Ltd is a gold exploration company. The single operating segment of the company is the exploration and evaluation of minerals, mining, and processing of Gold in Australia. The company projects include the Bellevue Gold Projectwhich is located in the northwest of Kalgoorlie in Western Australia, the Kathleen Valley Project, and the South Yandal Gold Project.
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