Bellevue Gold Ltd (ASX: BGL)
Goldman Sachs thinks that Bellevue Gold could be an ASX mining stock to buy now.
Its analysts think that the gold miner's shares are cheap compared to peers. They explain:
Relative to peers, BGL remains relatively underappreciated in our view, trading at of ~0.85x NAV and pricing ~US$1,600/oz LT gold (peer average ~1.15x NAV and ~US$1,940/oz). While near-term FCF yields are impacted by the accelerated development spend, we see these returning to double digit by FY26/27E, and remaining attractive vs. peers, supporting upside to the outlook for possible future capital returns once the expansion ramps up (despite ~25% of medium-term gold sales being hedged at ~A$2,700-2,900/oz, and 31.5koz of A$3,500/oz puts in FY25).
Goldman has a buy rating and $1.70 price target on its shares. This implies potential upside of 40% for investors over the next 12 months.
Source: The Motley Fool
Bellevue Gold Ltd (ASX: BGL)Goldman Sachs thinks that Bellevue...
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Last
$1.43 |
Change
0.045(3.25%) |
Mkt cap ! $1.830B | |||
| Open | High | Low | Value | Volume |
| $1.43 | $1.46 | $1.42 | $6.930M | 4.833M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6000 | $1.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 64055 | 2 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| BGL (ASX) Chart |