B2Gold (BTG) is reaffirmed as a 'Strong Buy' after a recent dip to $4.5, with fundamentals remaining robust. BTG's estimated FY2026 forward P/E ratio of 6.1 is over 40% below its historical average, signaling undervaluation. Recent Q3 results showed a strong non-GAAP EPS beat, with EPS rising from $0.02 to $0.14 year-over-year.
B2Gold (BTG) remains a Strong Buy despite recent share price weakness driven by geopolitical concerns in Mali, which accounts for 58% of production. BTG delivered strong Q3 results: production rose 41% year-over-year, costs fell, and the Goose mine in Canada reached commercial production. Valuation is compelling, with BTG trading at a significant discount to peers; the company is well-positioned for growth as Goose ramps up and Mali risks appear overstated.
BTG is set to post Q3 results, with earnings projected to jump to 15 cents per share as higher gold prices and Fekola gains drive the quarterly performance.
Gold prices have more than doubled since 2020, creating a favorable environment for producers like B2Gold. B2Gold's Goose Mine will drive production growth from 120K-150K ounces in 2025 to ~300K ounces annually by 2026-2027. Fekola Regional project adds ~180K ounces annually starting in 2026, while Gramalote could contribute 177K ounces post-permitting.
In the latest trading session, B2Gold (BTG) closed at $4.45, marking a +2.53% move from the previous day.
B2Gold posts a 12.3% jump in Q2 output and hits a Goose Mine milestone, leading to higher sales and earnings estimates.
BTG shares are gaining, with solid Q2 results, new projects and a strong financial position driving impressive growth.
B2Gold's Q2 results showed revenue and earnings misses, but underlying mine performance was strong, with all operations exceeding production expectations and annual guidance reaffirmed. The Goose mine in Canada has begun production, diversifying jurisdictional risk and supporting future growth, while the Fekola Underground and Gramalote projects add further upside. Despite a post-earnings sell-off, the company's valuation remains unjustifiably low vs. peers, trading at a significant discount despite strong fundamentals and a robust balance sheet.
B2Gold Corp. (NYSE:BTG ) Q2 2025 Earnings Conference Call August 8, 2025 11:00 AM ET Company Participants Clive Thomas Johnson - President, CEO & Director Michael Andrew Cinnamond - Senior VP of Finance & CFO William Lytle - Senior VP of Operations & COO Conference Call Participants Anita Soni - CIBC Capital Markets, Research Division Carey MacRury - Canaccord Genuity Corp., Research Division Don DeMarco - National Bank Financial, Inc., Research Division Fahad Tariq - Jefferies LLC, Research Division Francesco Costanzo - Scotiabank Global Banking and Markets, Research Division Lawson Winder - BofA Securities, Research Division Ovais Habib - Scotiabank Global Banking and Markets, Research Division Wayne Lam - TD Cowen, Research Division Operator Thank you for standing by. This is today's conference operator.
BTG's Q2 EPS miss estimates, but revenues, gold output and margins rise sharply y/y.
B2Gold is at a pivotal growth point, with the Goose Mine launch set to boost production by 20–33% and diversify risk geographically. BTG trades at a steep discount to sector peers, with a forward P/E of 6.11x and EV/EBITDA of 2.58x, despite strong fundamentals. Key catalysts include the Goose Mine ramp-up, Fekola expansion, and gold prices at historic highs, supporting robust cash flow and upside potential.
BTG's Q2 earnings are likely to have surged on higher gold prices and output, though rising costs are expected to have pressured margins.