0001 GMT - Bellevue Gold's downgrade of its FY25 guidance and withdrawal of its five-year outlook is disappointing, but its new, scaled-back mine plan appears "inherently less risky and more deliverable," Macquarie analysts say in a note. While questions will remain about delivery--which will be crucial to the miner regaining market trust--the company should generate cash at spot gold prices, "underpinning inherent value," the analysts say. Macquarie cuts the stock's target to A$1.20/share from A$1.90 and keeps an outperform rating. Bellevue Gold closed at A$1.145 on March 26, before trading in its shares was suspended. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
April 14, 2025 20:01 ET (00:01 GMT)
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