Symbols / BTG $4.97 +0.40% B2Gold Corp.

Basic Materials • Gold • Canada • ASE
BTG Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
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Index EQUITY
Sector Basic Materials
Industry Gold
CEO Mr. Clive Thomas Johnson
Exch · Country ASE · Canada
Market Cap 6.65B
Enterprise Value 6.91B
Income 401.91M
Sales 3.06B
FCF (ttm) 596.06M
Book/sh 2.68
Cash/sh 0.29
Employees —
Insider 10d —
IPO Jun 24, 2008
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 28.57%
P/E 17.75
Forward P/E 4.22
PEG —
P/S 2.17
P/B 1.85
P/C —
EV/EBITDA 4.43
EV/Sales 2.26
Quick Ratio 0.44
Current Ratio 1.06
Debt/Eq 16.43
LT Debt/Eq —
EPS (ttm) 0.28
EPS next Y 1.18
EPS Growth —
Revenue Growth 110.90%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-05-06
Earnings (prior) 2026-02-18
ROA 13.23%
ROE 12.78%
ROIC —
Gross Margin 64.41%
Oper. Margin 40.45%
Profit Margin 13.13%
Shs Outstand 1.34B
Shs Float 1.26B
Insider Own 0.41%
Instit Own 71.26%
Short Float —
Short Ratio 1.70
Short Interest 52.29M
52W High 6.29
vs 52W High -20.99%
52W Low 2.86
vs 52W Low 73.78%
Beta 1.33
Impl. Vol. 1.56%
Rel Volume 0.90
Avg Volume 36.67M
Volume 33.11M
Target (mean) $6.59
Tgt Median $7.00
Tgt Low $4.95
Tgt High $7.50
# Analysts 5
Recom Buy
Prev Close $4.95
Price $4.97
Change 0.40%
About

B2Gold Corp. operates as a gold producer company in Canada. The company operates the Fekola Mine in Mali; the Masbate Mine in the Philippines; the Otjikoto Mine in Namibia; the Goose Mine in Canada. It also owns 100% interest in the Gramalote gold project in Colombia. In addition, the company has a portfolio of other evaluation and exploration assets in Mali, Canada and Finland. The company was incorporated in 2006 and is headquartered in Vancouver, Canada.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$6.59
Mean price target
2. Current target
$4.97
Latest analyst target
3. DCF / Fair value
$8.02
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$4.97
Low
$4.95
High
$7.50
Mean
$6.59

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-11-21 main CIBC Neutral → Neutral $6
2025-10-10 main Raymond James Outperform → Outperform $6
2025-10-10 main CIBC Neutral → Neutral $7
2025-07-15 main CIBC Neutral → Neutral $4
2025-03-20 main CIBC Neutral → Neutral $4
2025-01-15 main CIBC Neutral → Neutral $3
2024-10-04 main Jefferies Buy → Buy $5
2024-09-24 main CIBC Neutral → Neutral $4
2024-09-17 reit RBC Capital Sector Perform → Sector Perform $4
2024-07-12 main Jefferies Buy → Buy $4
2024-07-10 main CIBC Neutral → Neutral $4
2024-02-29 init Jefferies — → Buy $4
2023-09-29 reit RBC Capital Sector Perform → Sector Perform $4
2023-03-08 reit RBC Capital — → Sector Perform $4
2022-09-12 up TD Securities Buy → Action List Buy —
2022-01-18 main Raymond James — → Outperform $6
2021-12-10 down JP Morgan Neutral → Underweight —
2020-01-22 main B of A Securities — → Buy $6
2017-03-02 init B of A Securities — → Buy $4
2016-09-20 up Dundee Neutral → Buy —
News
RSS: Latest BTG news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-13 Chatwin (Randall C) Senior Officer of Issuer — 6,300 $4.86 $30,605
2026-04-01 Bartz, Eduard Senior Officer of Issuer — 20,015 $4.27 $85,544
2026-04-01 Bartz, Eduard Senior Officer of Issuer — 20,015 $4.63 $92,609
2026-04-01 Bartz, Eduard Senior Officer of Issuer — 45,036 $4.27 $192,483
2026-04-01 Bartz, Eduard Senior Officer of Issuer — 24,177 $4.63 $111,866
2026-04-01 Brown (Andrew Bruce) Senior Officer of Issuer — 14,557 $4.27 $62,216
2026-04-01 Brown (Andrew Bruce) Senior Officer of Issuer — 7,818 $4.63 $36,173
2026-04-01 Brown (Andrew Bruce) Senior Officer of Issuer — 16,385 $4.27 $70,029
2026-04-01 Brown (Andrew Bruce) Senior Officer of Issuer — 8,799 $4.63 $40,712
2026-04-01 Chatwin (Randall C) Senior Officer of Issuer — 118,715 $4.27 $507,387
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
3,061.24
+60.95%
1,902.03
-1.67%
1,934.27
+11.64%
1,732.59
Operating Revenue
3,061.24
+60.95%
1,902.03
-1.67%
1,934.27
+11.64%
1,732.59
Cost Of Revenue
1,530.45
+27.98%
1,195.84
+3.60%
1,154.27
+2.30%
1,128.35
Reconciled Cost Of Revenue
1,530.45
+27.98%
1,195.84
+3.60%
1,154.27
+2.30%
1,128.35
Gross Profit
1,530.78
+116.76%
706.20
-9.46%
780.00
+29.09%
604.24
Operating Expense
126.20
+13.29%
111.39
+5.72%
105.36
+20.12%
87.72
Selling General And Administration
92.04
+9.36%
84.16
+1.05%
83.28
+5.00%
79.32
General And Administrative Expense
92.04
+9.36%
84.16
+1.05%
83.28
+5.00%
79.32
Salaries And Wages
54.95
+2.38%
53.68
+156.57%
20.92
-15.79%
24.84
Other Gand A
37.09
+21.66%
30.48
-51.12%
62.36
+14.47%
54.48
Other Operating Expenses
19.77
+40.99%
14.02
-14.93%
16.48
+96.35%
8.39
Total Expenses
1,656.65
+26.73%
1,307.23
+3.78%
1,259.64
+3.58%
1,216.06
Operating Income
1,404.58
+136.14%
594.80
-11.83%
674.64
+30.61%
516.53
Total Operating Income As Reported
1,382.26
+656.63%
-248.33
-175.85%
327.40
-34.83%
502.40
EBITDA
1,455.33
+1464.33%
93.03
-87.37%
736.63
-20.39%
925.31
Normalized EBITDA
1,861.61
+90.46%
977.44
-12.37%
1,115.40
+19.85%
930.66
Reconciled Depreciation
440.83
+19.98%
367.41
-8.69%
402.37
+4.82%
383.85
EBIT
1,014.50
+469.75%
-274.38
-182.09%
334.26
-38.27%
541.46
Total Unusual Items
-406.28
+54.06%
-884.41
-133.50%
-378.77
-6985.07%
-5.35
Total Unusual Items Excluding Goodwill
-406.28
+54.06%
-884.41
-133.50%
-378.77
-6985.07%
-5.35
Special Income Charges
-11.38
+98.63%
-831.05
-134.00%
-355.15
-2390.34%
-14.26
Other Special Charges
—
16.80
—
—
Impairment Of Capital Assets
5.12
-99.42%
877.01
+156.40%
342.05
+2885.54%
11.46
Restructuring And Mergern Acquisition
—
0.00
-100.00%
12.15
0.00
Net Income
401.91
+163.81%
-629.89
-6338.40%
10.10
-96.01%
252.87
Pretax Income
976.80
+415.89%
-309.22
-196.53%
320.33
-39.63%
530.62
Net Non Operating Interest Income Expense
-25.25
-78.93%
-14.11
-407.23%
4.59
+309.45%
1.12
Interest Expense Non Operating
37.70
+8.19%
34.85
+150.25%
13.93
+28.44%
10.84
Net Interest Income
-25.25
-78.93%
-14.11
-407.23%
4.59
+309.45%
1.12
Interest Expense
37.70
+8.19%
34.85
+150.25%
13.93
+28.44%
10.84
Interest Income Non Operating
12.45
-39.96%
20.73
+11.96%
18.52
+54.79%
11.96
Interest Income
12.45
-39.96%
20.73
+11.96%
18.52
+54.79%
11.96
Other Income Expense
-402.08
+54.82%
-889.91
-147.96%
-358.90
-2867.99%
12.97
Other Non Operating Income Expenses
4.95
+160.86%
-8.14
-100.57%
-4.06
-149.91%
8.13
Gain On Sale Of Security
-394.90
-640.16%
-53.35
-125.88%
-23.62
-364.96%
8.91
Gain On Sale Of Business
0.00
-100.00%
7.84
+931.18%
-0.94
—
Tax Provision
550.10
+73.30%
317.43
+13.88%
278.75
+14.29%
243.89
Tax Rate For Calcs
0.00
+0.00%
0.00
-62.50%
0.00
+52.61%
0.00
Tax Effect Of Unusual Items
-60.94
+54.06%
-132.66
+12.44%
-151.51
-10712.78%
-1.40
Net Income Including Noncontrolling Interests
426.70
+168.09%
-626.65
-1606.81%
41.59
-85.50%
286.72
Net Income From Continuing Operation Net Minority Interest
401.91
+163.81%
-629.89
-6338.40%
10.10
-96.01%
252.87
Net Income From Continuing And Discontinued Operation
401.91
+163.81%
-629.89
-6338.40%
10.10
-96.01%
252.87
Net Income Continuous Operations
426.70
+168.09%
-626.65
-1606.81%
41.59
-85.50%
286.72
Minority Interests
-24.79
-665.63%
-3.24
+89.72%
-31.49
+6.97%
-33.85
Normalized Income
747.24
+513.23%
121.85
-48.66%
237.36
-7.58%
256.82
Net Income Common Stockholders
401.91
+163.81%
-629.89
-6338.40%
10.10
-96.01%
252.87
Diluted EPS
0.28
+158.33%
-0.48
-4900.00%
0.01
-95.83%
0.24
Basic EPS
0.30
+162.50%
-0.48
-4900.00%
0.01
-95.83%
0.24
Basic Average Shares
1,325.32
+1.26%
1,308.85
+6.23%
1,232.09
+15.77%
1,064.26
Diluted Average Shares
1,480.86
+13.14%
1,308.85
+5.77%
1,237.40
+15.54%
1,071.00
Diluted NI Availto Com Stockholders
409.63
+165.03%
-629.89
-6338.40%
10.10
-96.01%
252.87
Average Dilution Earnings
7.72
0.00
—
—
Earnings From Equity Interest
-0.76
-128.71%
2.63
-86.76%
19.87
+95.14%
10.18
Gain On Sale Of PPE
-6.26
-111.39%
54.92
0.00
+100.00%
-2.80
Other Taxes
14.39
+8.93%
13.21
+135.91%
5.60
—
Rent Expense Supplemental
-147.69
-58.15%
-93.39
—
—
Line Item Trend 2024-12-31 2023-12-31
Total Assets
4,814.00
-1.24%
4,874.62
Current Assets
901.79
+26.88%
710.73
Cash Cash Equivalents And Short Term Investments
348.54
+13.57%
306.89
Cash And Cash Equivalents
336.97
+9.80%
306.89
Other Short Term Investments
11.56
—
Receivables
54.54
+44.71%
37.69
Other Receivables
8.36
+6.70%
7.84
Taxes Receivable
46.17
+54.69%
29.85
Inventory
477.59
+37.83%
346.50
Raw Materials
397.80
+44.54%
275.21
Work In Process
45.61
+150.31%
18.22
Finished Goods
34.18
-35.59%
53.06
Prepaid Assets
18.91
-1.35%
19.17
Assets Held For Sale Current
—
—
Hedging Assets Current
2.22
+360.91%
0.48
Total Non Current Assets
3,912.21
-6.04%
4,163.89
Net PPE
3,291.43
-7.63%
3,563.49
Gross PPE
7,366.53
+14.87%
6,413.19
Accumulated Depreciation
-4,075.09
-43.00%
-2,849.70
Buildings And Improvements
2,087.74
+6.84%
1,954.15
Machinery Furniture Equipment
—
—
Construction In Progress
1,263.84
-9.35%
1,394.14
Investments And Advances
168.13
-23.61%
220.10
Long Term Equity Investment
91.42
-31.83%
134.09
Other Investments
76.72
-10.80%
86.01
Non Current Accounts Receivable
244.15
+22.27%
199.67
Non Current Deferred Assets
0.00
-100.00%
16.93
Non Current Deferred Taxes Assets
0.00
-100.00%
16.93
Non Current Prepaid Assets
14.47
0.00
Other Non Current Assets
194.02
+22.84%
157.94
Total Liabilities Net Minority Interest
1,778.30
+84.35%
964.64
Current Liabilities
580.69
+85.24%
313.47
Payables And Accrued Expenses
259.91
-9.69%
287.80
Payables
259.91
-9.69%
287.80
Accounts Payable
156.35
-6.44%
167.12
Employee Benefits
18.41
-3.97%
19.17
Total Tax Payable
103.56
-14.19%
120.68
Current Debt And Capital Lease Obligation
16.42
+1.00%
16.26
Current Debt
16.42
+1.00%
16.26
Other Current Borrowings
16.42
—
Current Capital Lease Obligation
6.40
+29.47%
4.94
Current Deferred Liabilities
272.78
0.00
Current Deferred Revenue
272.78
0.00
Other Current Liabilities
24.41
+283.23%
6.37
Total Non Current Liabilities Net Minority Interest
1,197.61
+83.92%
651.17
Long Term Debt And Capital Lease Obligation
421.46
+139.65%
175.87
Long Term Debt
421.46
+139.65%
175.87
Long Term Capital Lease Obligation
22.89
-4.22%
23.90
Long Term Provisions
140.54
+34.35%
104.61
Non Current Deferred Liabilities
435.07
+131.29%
188.11
Non Current Deferred Revenue
265.33
0.00
Non Current Deferred Taxes Liabilities
169.74
-9.76%
188.11
Other Non Current Liabilities
182.13
+11.45%
163.42
Stockholders Equity
2,983.07
-21.71%
3,810.38
Common Stock Equity
2,983.07
-21.71%
3,810.38
Capital Stock
3,510.27
+1.61%
3,454.81
Common Stock
3,510.27
+1.61%
3,454.81
Share Issued
1,318.04
+1.20%
1,302.40
Ordinary Shares Number
1,318.04
+1.33%
1,300.69
Treasury Shares Number
0.00
-100.00%
1.71
Additional Paid In Capital
91.18
+7.31%
84.97
Retained Earnings
-515.62
-230.25%
395.85
Gains Losses Not Affecting Retained Earnings
-102.77
+17.95%
-125.26
Minority Interest
52.63
-47.15%
99.60
Other Equity Adjustments
-102.77
+17.95%
-125.26
Total Equity Gross Minority Interest
3,035.70
-22.36%
3,909.97
Total Capitalization
3,404.53
-14.59%
3,986.25
Working Capital
321.10
-19.17%
397.26
Invested Capital
3,420.95
-14.53%
4,002.50
Total Debt
437.88
+127.92%
192.12
Net Debt
100.91
—
Capital Lease Obligations
29.29
+1.55%
28.84
Net Tangible Assets
2,983.07
-21.71%
3,810.38
Tangible Book Value
2,983.07
-21.71%
3,810.38
Current Provisions
7.17
+135.08%
3.05
Derivative Product Liabilities
—
139.60
Financial Assets
—
—
Investmentin Financial Assets
—
—
Investmentsin Associatesat Cost
91.42
-31.83%
134.09
Non Current Note Receivables
0.00
-100.00%
5.76
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
895.84
+2.08%
877.60
+22.84%
714.45
+19.92%
595.80
Cash Flow From Continuing Operating Activities
895.84
+2.08%
877.60
+22.84%
714.45
+19.92%
595.80
Net Income From Continuing Operations
426.70
+168.09%
-626.65
-1606.81%
41.59
-85.50%
286.72
Depreciation Amortization Depletion
440.83
+19.98%
367.41
-8.69%
402.37
+4.82%
383.85
Other Non Cash Items
-102.28
-117.91%
571.01
+832.30%
61.25
+917.41%
6.02
Stock Based Compensation
22.93
-5.78%
24.34
+33.94%
18.17
-26.35%
24.68
Asset Impairment Charge
5.12
-99.42%
877.01
+156.40%
342.05
+2885.54%
11.46
Deferred Tax
-132.03
-1887.38%
7.39
+180.84%
-9.14
-133.29%
-3.92
Deferred Income Tax
-132.03
-1887.38%
7.39
+180.84%
-9.14
-133.29%
-3.92
Operating Gains Losses
279.19
+564.35%
-60.12
-316.72%
-14.43
-571.04%
3.06
Gain Loss On Investment Securities
272.93
+10277.68%
2.63
-41.56%
4.50
-56.90%
10.44
Gain Loss On Sale Of PPE
6.26
+111.39%
-54.92
0.00
-100.00%
2.80
Change In Working Capital
-44.62
+84.22%
-282.78
-121.94%
-127.42
-9.77%
-116.08
Change In Receivables
-139.85
-87.44%
-74.61
+29.09%
-105.21
-54.76%
-67.98
Changes In Account Receivables
-12.68
-5795.35%
-0.21
-246.26%
0.15
+103.75%
-3.92
Change In Inventory
-193.34
-4.08%
-185.75
-267.94%
-50.48
-0.42%
-50.27
Change In Payables And Accrued Expense
288.57
+1387.04%
-22.42
-179.28%
28.28
+1196.06%
2.18
Change In Payable
288.57
+1387.04%
-22.42
-179.28%
28.28
+1196.06%
2.18
Change In Account Payable
69.04
+5681.41%
-1.24
+94.21%
-21.38
-1899.49%
1.19
Investing Cash Flow
-892.74
-16.96%
-763.30
+9.70%
-845.34
-117.43%
-388.78
Cash Flow From Continuing Investing Activities
-892.74
-16.96%
-763.30
+9.70%
-845.34
-117.43%
-388.78
Net PPE Purchase And Sale
0.00
-100.00%
7.50
+136.78%
-20.39
+57.74%
-48.26
Purchase Of PPE
—
0.00
+100.00%
-20.39
+57.74%
-48.26
Sale Of PPE
0.00
-100.00%
7.50
0.00
0.00
Capital Expenditure
—
-16.86
+77.92%
-76.37
-2.42%
-74.57
Capital Expenditure Reported
—
-16.86
+69.88%
-55.98
-112.76%
-26.31
Net Investment Purchase And Sale
-26.86
-145.35%
59.22
+277.92%
-33.28
-330.17%
-7.74
Purchase Of Investment
-81.81
-111.20%
-38.73
-16.38%
-33.28
-330.17%
-7.74
Sale Of Investment
54.95
-43.90%
97.95
0.00
—
Net Business Purchase And Sale
-4.80
-105.26%
91.21
+190.39%
31.41
+24.23%
25.29
Purchase Of Business
-4.80
+47.19%
-9.09
-36.23%
-6.67
+68.42%
-21.13
Gain Loss On Sale Of Business
0.00
+100.00%
-7.84
-931.18%
0.94
—
Net Other Investing Changes
-861.08
+6.53%
-921.23
-20.09%
-767.10
-131.22%
-331.76
Financing Cash Flow
58.65
+184.91%
-69.07
+64.12%
-192.51
+8.89%
-211.28
Cash Flow From Continuing Financing Activities
58.65
+184.91%
-69.07
+64.12%
-192.51
+8.89%
-211.28
Net Issuance Payments Of Debt
177.16
-24.92%
235.96
+80.80%
130.51
+594.02%
-26.42
Issuance Of Debt
663.25
+46.24%
453.53
+202.35%
150.00
0.00
Repayment Of Debt
-486.08
-123.41%
-217.57
-1016.33%
-19.49
+26.22%
-26.42
Long Term Debt Issuance
663.25
+46.24%
453.53
+202.35%
150.00
+22524.43%
0.66
Long Term Debt Payments
-486.08
-123.41%
-217.57
-1016.33%
-19.49
+26.22%
-26.42
Net Long Term Debt Issuance
177.16
-24.92%
235.96
+80.80%
130.51
+594.02%
-26.42
Short Term Debt Issuance
—
—
150.00
0.00
Short Term Debt Payments
—
—
—
—
Net Short Term Debt Issuance
—
—
150.00
0.00
Net Common Stock Issuance
4.07
-59.59%
10.07
0.00
—
Common Stock Payments
-9.85
0.00
—
—
Common Stock Dividend Paid
-103.44
+43.97%
-184.63
+1.12%
-186.72
-9.43%
-170.63
Cash Dividends Paid
-103.44
+43.97%
-184.63
+1.12%
-186.72
-9.43%
-170.63
Repurchase Of Capital Stock
-9.85
0.00
—
—
Proceeds From Stock Option Exercised
66.08
+2016.69%
3.12
-75.71%
12.85
-9.96%
14.28
Net Other Financing Charges
-66.78
+45.24%
-121.95
+15.65%
-144.57
-501.06%
-24.05
Changes In Cash
61.74
+36.50%
45.23
+113.99%
-323.40
-7475.45%
-4.27
Effect Of Exchange Rate Changes
-18.29
-20.68%
-15.15
+30.02%
-21.66
-29.02%
-16.78
Beginning Cash Position
336.97
+9.80%
306.89
-52.93%
651.95
-3.13%
673.00
End Cash Position
380.42
+12.90%
336.97
+9.80%
306.89
-52.93%
651.95
Free Cash Flow
895.84
+2.08%
877.60
+37.54%
638.09
+22.42%
521.23
Change In Income Tax Payable
219.53
+1136.28%
-21.18
-142.66%
49.66
+4895.77%
0.99
Change In Tax Payable
219.53
+1136.28%
-21.18
-142.66%
49.66
+4895.77%
0.99
Common Stock Issuance
13.92
+38.19%
10.07
0.00
—
Earnings Losses From Equity Investments
—
-2.63
+86.76%
-19.87
-95.14%
-10.18
Interest Paid CFF
-18.45
-58.37%
-11.65
-154.21%
-4.58
-2.83%
-4.46
Issuance Of Capital Stock
13.92
+38.19%
10.07
0.00
—
Sale Of Business
0.00
-100.00%
100.30
+163.38%
38.08
-17.95%
46.41
SEC Filings

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