BTG Stock Analysis: B2Gold | NYSE MKT
Gold | NYSE MKT, USA | Market Cap: 6.764m USD | 12M Return: -0% | CA11777Q2099 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 102M
EPS Trend: 52.0%
Qual. Beats: 0
Rev. Trend: 84.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
B2Gold Corp. is a Canadian gold producer headquartered in Vancouver, with operating mines in four countries: the Fekola Mine in Mali, the Masbate Mine in the Philippines, the Otjikoto Mine in Namibia, and the Goose Mine in Canada. The company also holds a 100% interest in the Gramalote gold project in Colombia and maintains a portfolio of evaluation and exploration assets in Mali, Canada, and Finland. Incorporated in 2006 and listed on the NYSE MKT under the ticker BTG, B2Gold operates within the GICS Materials sector, specifically classified under the Gold sub-industry. As a mid-cap gold producer, the companys revenue is primarily tied to gold bullion sales, exposing it to gold price volatility and currency fluctuations across its geographically diverse operations.
- Gold price strength lifts realized margins and free cash flow
- Fekola Mine production exposed to Mali political and security risk
- Goose Mine ramp-up in Canada adds new low-cost production
| Net Income: 793.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 9.27 > 1.0 |
| NWC/Revenue: 10.79% < 20% (prev -0.88%; Δ 11.67% < -1%) |
| CFO/TA 0.16 > 3% & CFO 897.8m > Net Income 793.8m |
| Net Debt (215.2m) to EBITDA (1.90b): 0.11 < 3 |
| Current Ratio: 1.58 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.49b) vs 12m ago 0.87% < -2% |
| Gross Margin: 49.17% > 18% (prev 41.34%; Δ 7.83% > 0.5%) |
| Asset Turnover: 67.86% > 50% (prev 40.94%; Δ 26.92% > 0%) |
| Interest Coverage Ratio: 22.75 > 6 (EBIT TTM 1.37b / Interest Expense TTM 60.3m) |
| A: 0.07 (Total Current Assets 1.10b - Total Current Liabilities 696.0m) / Total Assets 5.74b |
| B: 0.05 (Retained Earnings 264.9m / Total Assets 5.74b) |
| C: 0.25 (EBIT TTM 1.37b / Avg Total Assets 5.52b) |
| D: 2.28 (Book Value of Equity 3.97b / Total Liabilities 1.74b) |
| Altman-Z'' = 4.67 = AA |
| DSRI: 0.90 (Receivables 83.8m/54.0m, Revenue 3.75b/2.17b) |
| GMI: 0.84 (GM 41.34% / 49.17%) |
| AQI: 1.06 (AQ_t 0.15 / AQ_t-1 0.14) |
| SGI: 1.73 (Revenue 3.75b / 2.17b) |
| TATA: -0.02 (NI 793.8m - CFO 897.8m) / TA 5.74b) |
| Beneish M = -2.70 (Cap -4..+1) = A |
As of October 14, 2026, the stock is trading at USD 5.22 with a total of 22,073,395 shares traded. Over the past week, the price has changed by +0.19%, over one month by +0.00%, over three months by +38.59% and over the past year by -0.03%.
Current recommended Stop Loss: 4.90 (which is 6.1% or 1.6 ATR below the current price).
B2Gold has received a consensus analysts rating of 3.67. Therefore, it is recommended to hold BTG.
- StrongBuy: 2
- Buy: 5
- Hold: 4
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 6.5 | 23.6% |
P/E Trailing = 9.3091
P/E Forward = 5.4318
P/S = 1.7871
P/B = 1.8559
P/EG = 4.71
Revenue TTM = 3.75b USD
EBIT TTM = 1.37b USD
EBITDA TTM = 1.90b USD
Long Term Debt = 393.6m USD (from longTermDebt, last quarter)
Short Term Debt = 32.6m USD (from shortTermDebt, last quarter)
Debt = 504.9m USD (from shortLongTermDebtTotal, last quarter) + Leases 49.4m
Net Debt = 215.2m USD (calculated: Debt 504.9m - CCE 289.7m)
Enterprise Value = 6.98b USD (6.76b + Debt 504.9m - CCE 289.7m)
Interest Coverage Ratio = 22.75 (Ebit TTM 1.37b / Interest Expense TTM 60.3m)
EV/FCF = 41.17x (Enterprise Value 6.98b / FCF TTM 169.5m)
FCF Yield = 2.43% (FCF TTM 169.5m / Enterprise Value 6.98b)
FCF Margin = 4.52% (FCF TTM 169.5m / Revenue TTM 3.75b)
Net Margin = 21.17% (Net Income TTM 793.8m / Revenue TTM 3.75b)
Gross Margin = 49.17% ((Revenue TTM 3.75b - Cost of Revenue TTM 1.91b) / Revenue TTM)
Gross Margin QoQ = 39.06% (prev 52.63%)
Tobins Q-Ratio = 1.22 (Enterprise Value 6.98b / Total Assets 5.74b)
Interest Expense / Debt = 11.94% (Interest Expense 60.3m / Debt 504.9m)
Taxrate = 33.09% (202.2m / 611.2m)
NOPAT = 917.5m (EBIT 1.37b * (1 - 33.09%))
Current Ratio = 1.58 (Total Current Assets 1.10b / Total Current Liabilities 696.0m)
Debt / Equity = 0.13 (Debt 504.9m / totalStockholderEquity, last quarter 3.97b)
Debt / EBITDA = 0.11 (Net Debt 215.2m / EBITDA 1.90b)
Debt / FCF = 1.27 (Net Debt 215.2m / FCF TTM 169.5m)
Total Stockholder Equity = 3.64b (last 4 quarters mean from totalStockholderEquity)
RoA = 14.37% (Net Income 793.8m / Total Assets 5.74b)
RoE = 21.81% (Net Income TTM 793.8m / Total Stockholder Equity 3.64b)
RoCE = 34.00% (EBIT 1.37b / Capital Employed (Equity 3.64b + L.T.Debt 393.6m))
RoIC = 18.76% (NOPAT 917.5m / Invested Capital 4.89b)
WACC = 9.11% (E(6.76b)/V(7.27b) * Re(9.19%) + D(504.9m)/V(7.27b) * Rd(11.94%) * (1-Tc(0.33)))
Discount Rate = 9.19% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 84.57 | Cagr: 5.97%
[DCF] Terminal Value 72.82% ; FCFF base≈169.5m ; Y1≈170.2m ; Y5≈180.3m
[DCF] Fair Price = 1.72 (EV 2.48b - Net Debt 215.2m = Equity 2.27b / Shares 1.32b; r=9.11% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 51.99 | EPS CAGR: 26.29% | SUE: -0.81 | # QB: 0
Revenue Correlation: 84.67 | Revenue CAGR: 27.81% | SUE: 0.37 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.13 | Chg30d=-7.39% | Revisions=-62% | Analysts=9
EPS current Year (2026-12-31): EPS=0.56 | Chg30d=+3.90% | Revisions=+0% | GrowthEPS=+21.6% | GrowthRev=+21.7%
EPS next Year (2027-12-31): EPS=1.04 | Chg30d=-1.83% | Revisions=+0% | GrowthEPS=+85.4% | GrowthRev=+18.2%
[Analyst] Revisions Ratio: -42% (up=2, down=7)