Australia's Bellevue Gold rises despite missing brokerages' profit estimate

Bellevue Gold

03/09/2024 01:56

** Shares of Bellevue Gold  BGL.AX  rise as much as 3.5% to
A$1.195
    ** Macquarie says Bellevue Gold's  BGL.AX  FY underlying
EBITDA of A$113 mln ($76.70 mln) missed brokerage's estimate by
6% and Visible Alpha Consensus' estimate by 19% 
    ** Co missed the estimates due to higher operating expense
noting commercial production was declared in May, Macquarie says
    ** Brokerage says co's FY NPAT of A$75 mln posted on Monday
was 26% and 11% softer than brokerage's and VA consensus
estimates, respectively
    ** Brokerage maintains target price for co at A$1.70 per
share
    ** Stock has fallen 31.3% this year, as of last close

    ($1 = 1.4732 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))