B2Gold Corp. (BTG) AI Stock Analysis

B2Gold Corp. is a gold producer operating across multiple continents. Headquartered in Vancouver, Canada, the company owns and operates three primary mines: the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. These operations drive B2Gold's production profile and international presence. The company also holds strategic investments, including a 25% interest in Calibre Mining Corp. and approximately 19% interest in BeMetals Corp. In addition, B2Gold maintains exploration and evaluation assets in Mali, Uzbekistan, and Finland to support future resource expansion while emphasizing safety, environmental stewardship, and community engagement.

B2Gold delivered a 5-year revenue compound annual growth rate of 11.3% from FY2020 to FY2025. Annual revenue expanded from $1.76B in FY2021 to $3.06B in FY2025, supported by a 60.9% jump in FY2025 following a 1.7% contraction in FY2024. Profitability rebounded significantly in FY2025, generating net income of $401.9M and an operating margin of 45.9%, up from net income of -$629.9M in FY2024. Over the trailing twelve months, revenue reached $3.78B with a profit margin of 21.3%. For the latest quarter ended June 30, 2026, quarterly revenue grew 14.0% year-over-year while quarterly earnings surged 185.4%.

As of June 30, 2026, B2Gold held $289.7M in cash and short-term investments against total debt of $455.5M, resulting in net debt of $165.9M. Shareholders' equity stood at $3.97B out of $5.74B in total assets. The company reported a current ratio of 1.58 and a debt-to-equity ratio of 0.11. In FY2025, B2Gold generated operating cash flow of $892.7M and free cash flow of $66.4M. Capital expenditures reached $826.4M, while the company allocated $105.3M to dividends and $10.0M to share buybacks.

At a last close of $5.31 on October 16, 2026, B2Gold carries a market capitalization of $7.01B and an enterprise value of $7.56B. Its trailing P/E of 9.7x and forward P/E of 5.4x sit below the median of its US-listed Basic Materials peers, which stand at 19.7x and 13.4x, respectively. The stock trades at an EV to EBITDA ratio of 3.3x versus the peer median of 10.5x. Over the past year, BTG delivered a return of -9.1%, trailing the S&P 500 (SPY) return of 16.8%, while its 5-year return of 63.3% compares to 83.0% for the index.

B2Gold pays a quarterly dividend with a forward annual payout of $0.08 per share, yielding 1.51%. The company maintains a payout ratio of 17.0% and has paid dividends for 8 consecutive years. Its 5-year annualized dividend growth rate is -6.2%, and its last ex-dividend date was September 10, 2026.

Wall Street coverage consists of 2 Strong Buy, 5 Buy, 4 Hold, and 1 Sell ratings. The mean price target of $6.40 implies 20.5% upside from the last close of $5.31. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $3.70B and EPS of $0.55, reflecting 19.0% EPS growth. In the following fiscal year, 12 analysts forecast revenue of $4.27B and EPS of $0.95. B2Gold has beaten EPS estimates in 1 of the last 4 quarters, with its next earnings report scheduled for November 4, 2026.

This page is an AI-written research summary of B2Gold Corp. (BTG). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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