Brokers have recently placed a buy or outperform rating on two S&P/ASX 300 Index (ASX: XKO) gold shares.
Bellevue Gold Ltd (ASX: BGL) and St Barbara Ltd (ASX: SBM) have both received a positive forecast from brokers.
Let's take a look at these two ASX 300 gold shares in more detail.
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Bellevue Gold
Bellevue Gold is rated by Macquarie analysts as an outperform with a $1.14 price target, The Australian reported. The company's share price is currently down 0.22% and fetching $1.1275.
The gold price slipped overnight, as my Foolish colleague James reported this morning. The US Federal Reserve is due to meet this week to discuss interest rates. Rate rises tend to increase the US dollar. A higher US dollar can potentially impact the gold price as investors turn to an alternative safe haven.
Bellevue Gold recently conducted a $60 million capital raise to ramp up exploration. The company is targeting first gold production in the first half of 2023.
St Barbara
Citi analysts have upgraded the St Barbara share price to a buy. The company's shares are currently in a trading halt which St Barbara requested on Monday.
The company is planning to merge with Genesis Minerals Ltd (ASX: GMD). St Barbara will acquire 100% of Genesis shares via a scheme of arrangement. The company will have a new name, Hoover House Limited. Hoover House will target production of more than 300 koz per annum. This is about double St Barbara's FY23 production guidance of 145 to 160 koz for the Leonora project.
Chair Tim Netscher is confident the merger will provide benefits for shareholders. He said.
I am confident that this unique transaction will deliver significant value for all shareholders. The merger with our Leonora neighbour, Genesis, to create Hoover House, will accelerate our Leonora Province Plan. Shareholders will reap the benefits of more production at lower cost and lower risk from this prolific mining district.
