B2Gold (BTGN) Price & Analysis
BTGN Stock Chart & Stats
- Day’s Range
- MXN 86.00 - MXN 87.50
- 52-Week Range
- MXN 63.21 - MXN 108.79
- Previous Close
- MXN 92.50
- Volume
- 0
- Average Volume (3M)
- 1,700
- Market Cap
- MXN 113.87B
- Enterprise Value
- MXN 8.21B
- Total Cash (Recent Filing)
- MXN 289.56M
- Total Debt (Recent Filing)
- MXN 455.34M
- Price to Earnings (P/E)
- 7.8
- Beta
- 0.36
- Next Earnings
- Nov 04, 2026
- EPS Estimate
- 2.22
- Next Dividend Ex-Date
- N/A
- Dividend Yield
- 1.57%
Bulls Say, Bears Say
Bulls Say
Improved Profitability
The return to solid profitability and healthy margins strengthens internal funding capacity and demonstrates improved operating performance. If maintained, this earnings base can support mine investment, shareholder returns, and resilience through normal commodity-price and production variability over the next several quarters.
Conservative Balance Sheet
Low leverage gives B2Gold greater flexibility to fund sustaining capital, develop growth projects, and absorb operational setbacks without relying heavily on external financing. This balance-sheet position also supports shareholder distributions while reducing sensitivity to refinancing costs and temporary cash-flow pressure.
Long-term Production Growth
The Menankoto permit converts a major regional resource opportunity into an actionable development path. Planned production above 150,000 ounces annually from 2028 could extend mine-life output, improve scale, and provide a durable growth contribution beyond the current operating portfolio.
Bears Say
Weak Free Cash Flow Conversion
Although operating cash generation remains solid, weak and inconsistent free cash flow shows that capital spending, taxes, and working-capital movements can absorb much of the cash produced by operations. This may constrain debt reduction, growth funding, and shareholder returns during heavy investment periods.
Goose Operational Disruption
The Goose disruption creates execution risk because recovery depends on remediation and commissioning additional crushing capacity. Until throughput stabilizes, the mine may generate lower production and higher costs, making consolidated output, margins, and cash flow less predictable over the medium term.
Earnings Volatility
The sharp historical swings in profitability indicate that B2Gold's earnings remain sensitive to operating conditions and realized gold pricing. Such volatility can complicate capital planning and reduce confidence that current margins and returns will persist across changing production and commodity-price environments.
B2Gold News
BTGN FAQ
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B2Gold Stock Smart Score
Company Description
B2Gold
B2Gold Corp. is a prominent gold mining company that manages three active operations: the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. Beyond its direct mining activities, the firm maintains significant equity stakes, including a 25% interest in Calibre Mining Corp. and approximately 19% in BeMetals Corp. Its extensive portfolio also includes various other properties undergoing evaluation and exploration, situated in Mali, Uzbekistan, and Finland. Established in 2006, this corporation's headquarters are located in Vancouver, Canada.
- Sector
- Basicmaterials
- Industry
- Gold
- CEO
- Michael Andrew Cinnamond
- Employees
- 6,327
- Website
- www.b2gold.com
- Address
- Park Place, Vancouver, BC, V6C 2X8, CA
B2Gold (BTGN) Earnings & Revenues
BTGN Earnings Call
Earnings Call SentimentPositive
The call delivered several meaningful positives: a material permitting milestone for Fekola Regional that unlocks long-term production growth (>150,000 oz/year from 2028), in-line Q2 production (204k oz) with outperformance at key mines (Fekola, Masbate, Otjikoto), a $325 million asset sale, elimination of prepay/collar encumbrances heading into 2027, narrowed company guidance and lower AISC expectations, and continued active capital returns. Offsetting these positives were notable near-term cash pressures—negative free cash flow of $258 million in Q2 driven by front-loaded cash taxes (45% of expected 2026 tax paid in Q2), realized losses from collar contracts (~$71M), and operational disruption and incremental costs at Goose due to the April crusher fire. While there are short-term cash-flow and operational headwinds, the strategic and operational milestones materially strengthen the company’s medium-term outlook.
View all MX:BTGN earnings summariesBTGN Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 6 | 5 | 11 |
| Technical Analysis | 3 | 5 | 2 |
| Moving Averages | 3 | 0 | 9 |