Bellevue Gold, AU0000019374

MA Financial keeps Buy on Bellevue Gold stock at AUD 2.05 target

Published on 10/20/2026 at 04:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

FY26 revenue reached AUD 576.3 million, up from AUD 505.84 million. For Bellevue Gold stock, FY27 guidance spans 150,000 to 170,000 ounces.

Three dated signals for Bellevue

MA Financial maintained a Buy rating and an AUD 2.05 target on October 16, 2026.
Fiscal year 2026 revenue reached AUD 576.3 million against AUD 505.84 million a year earlier.
Bellevue Gold's next quarterly report is scheduled for October 22, 2026.

Bellevue Gold, AU0000019374, Illustration mit AI erstellt.

Bellevue Gold (ISIN AU0000019374) is carrying an MA Financial Buy rating and an AUD 2.05 price target after Paul Hissey's report dated October 16, 2026, as reported by Markets Insider. The latest full-year figures show revenue of AUD 576.3 million for fiscal year 2026, up from AUD 505.84 million in fiscal year 2025.

Three events set the context

On September 22, 2026, Bellevue Gold reported fiscal year 2026 sales of AUD 576.26 million and net income of AUD 7.08 million, compared with a net loss of AUD 45.89 million a year earlier, according to MarketScreener. On September 28, 2026, management set a fiscal year production midpoint of 160,000 ounces, versus 140,000 ounces in the prior year, as reported by Investing.com.

On October 16, 2026, MA Financial maintained its Buy rating and AUD 2.05 target. The unchanged target puts the emphasis on execution rather than a fresh valuation reset.

What does the guidance mean for cash flow?

The production target is paired with AUD 90 million to AUD 100 million of growth capital and an exploration budget of AUD 25 million to AUD 30 million, according to Investing.com. The same report said the hedge book had fallen to 68,000 ounces from 150,000 ounces and that no deliveries were due until June 2027. Bellevue also said the mine was running at 100,000 tonnes per month, supporting the 160,000-ounce plan.

Dates investors can track

Bellevue Gold's next quarterly report is scheduled for October 22, 2026, and its annual general meeting for November 19, 2026, according to the company calendar reported by Intelligent Investor. Those dates give investors two near-term checkpoints for production, cash generation and the contractor transition.

Execution is the next test

Bellevue Gold is moving from project construction toward a steadier operating profile, but the numbers still show a narrow profit base relative to revenue. The combination of 160,000-ounce guidance, declining hedge exposure and the October 22 reporting date makes operating delivery the next concrete test.