BTG Q4 EPS misses estimates, but revenues soar 111% y/y on higher gold prices and output as production jump 63% y/y.
BTG heads toward Q4 results with EPS expected to grow year over year, backed by near-record gold prices and an upbeat 2025 production outlook.
B2Gold is upgraded to Strong Buy, with its risk profile and growth trajectory fundamentally improved since early 2024. Goose Mine is now in commercial production, Mali risk is contained via a favorable settlement, and Fekola Regional is set to ramp up in 2026. Despite gold above $5,000/oz and 1M+ oz production potential, BTG trades at a deep discount to peers (EV/EBITDA < 7x, forward P/E 6.6).
Contrary to what investors have seen this earnings season, earnings growth is traditionally one of the key indicators of stock price growth. For calendar year 2026, FactSet forecasts earnings growth of companies in the S&P 500 to come in at 15%.
B2Gold is rated 'Strong Buy' due to a severe valuation disconnect ahead of a projected 2026 FCF inflection. BTG's margin profile is set to expand as Goose Mine ramps to ~300K ounces annually, with capital intensity peaking in 2025 and dropping sharply thereafter. Structural margin compression at Fekola from Mali's new mining code and logistical friction is a risk, but Goose's high-grade ore is expected to drive consolidated margin expansion.
In the closing of the recent trading day, B2Gold (BTG) stood at $4.9, denoting a -11.71% move from the preceding trading day.
B2Gold (BTG) closed the most recent trading day at $5.55, moving 3.81% from the previous trading session.
The spot price of gold climbed over the $5,000 mark for the first time in futures trading on Jan. 25. The move is psychologically important and hits the “big number” that many analysts have been predicting.
In the latest trading session, B2Gold (BTG) closed at $5.29, marking a +1.73% move from the previous day.
B2Gold has reached commercial production at its Goose Mine in Canada, setting the stage for a massive production ramp-up to 300,000 ounces annually by 2027. The transition to high-grade underground mining at the Fekola Mine in Mali is exceeding expectations, providing a critical boost to consolidated margins and output levels. Record gold prices and a favorable macro environment of falling interest rates provide a powerful tailwind for BTG's built-in operating leverage and free cash flow.
B2Gold (BTG) closed at $4.58 in the latest trading session, marking a -1.19% move from the prior day.
In the closing of the recent trading day, B2Gold (BTG) stood at $4.68, denoting a +2.41% move from the preceding trading day.