B2Gold Corp

BTO

Equity

ISIN null / Valor 3600792

Toronto Stock Exchange (2026-05-27)

CAD 6.28-3.53%

B2Gold Corp
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

B2Gold Corp is an international gold mining company based in Vancouver, Canada, established in 2007. The company operates gold mines in Mali, Namibia, and the Philippines, and is currently developing the Goose Project in northern Canada. In addition to its operational mines, B2Gold is actively engaged in development and exploration projects across several countries, including Mali, Colombia, and Finland. As a senior gold producer, B2Gold focuses on expanding its portfolio through strategic exploration and development initiatives, aiming to enhance its production capabilities and resource base.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Production

Q4 2025 consolidated gold production was 303,029 oz (Fekola, Masbate, Otjikoto and ramping Goose), and full‑year 2025 production was 979,604 oz (including 14,554 oz pre‑commercial Goose). Goose achieved commercial production on October 2, 2025 and produced 38,616 oz in Q4.

Revenue and Profitability

Record 2025 gold revenue of $3.061 billion (gold sales 927,797 oz; average realized price $3,299/oz). Q4 2025 net income was $180.3 million (attributable to shareholders $170.6M; basic EPS $0.13), and adjusted attributable net income in Q4 was $147.3M (adjusted EPS $0.11). For 2025, adjusted attributable net income was $611.9M (adjusted EPS $0.46).

Costs and Margins

Consolidated cash operating costs in Q4 2025 were $736/oz produced and cash operating costs for the full year were $769/oz produced (excluding Goose pre‑commercial). Consolidated all‑in sustaining costs (AISC) were $1,754/oz sold in Q4 and $1,584/oz sold for 2025.

Cash Flow, Liquidity and Capital

Operating cash flow before working capital adjustments was $211M in Q4 and $940M for 2025. At Dec 31, 2025 cash and cash equivalents were $380M with working capital of $68M. The company reported $650M available on its revolving credit facility at year‑end and noted a subsequent $100M repayment that increased availability to $750M.

Corporate actions — Returns to shareholders

B2Gold repurchased a total of 7 million shares for $34M under its NCIB (2M for $10M during 2025, plus 5M for $24M subsequent to year end). The Board declared a Q1 2026 cash dividend of $0.02 per share (payable March 19, 2026).

Operations and site performance

Fekola, Masbate and Otjikoto outperformed expectations in Q4. Fekola produced 163,720 oz in Q4 (530,769 oz for 2025); Masbate produced 49,900 oz in Q4 (196,526 oz for 2025); Otjikoto produced 50,793 oz in Q4 (199,139 oz for 2025). Higher realized gold prices contributed to stronger revenue but increased royalty costs versus budget.

2026 Guidance and outlook

2026 consolidated guidance: production 820,000–970,000 oz; consolidated cash operating costs $1,155–$1,280/oz produced; consolidated AISC $2,400–$2,580/oz sold (the AISC guidance assumes a $5,000/oz realized gold price). Exploration budget for 2026 is $73M, with $46M targeted to the Back River Gold District (Goose/region).

Summarized from source with an LLMView Source

Key figures

34.5%1Y

23.1%3Y

2.28%5Y

Performance

53.6%1Y

44.3%3Y

41.9%5Y

Volatility