Miner B2Gold's Q2 revenue misses estimates

Overview

• B2Gold Q2 2025 revenue misses analyst expectations, per LSEG data

• Gold production in Q2 exceeds company expectations at 229,454 ounces

• Adjusted net income misses estimates, per LSEG data

Outlook

• B2Gold expects Goose Mine production of 120,000 to 150,000 ounces in 2025

• Company forecasts Fekola Complex gold production of 515,000 to 550,000 ounces in 2025

• B2Gold updates Masbate Mine cash cost guidance to $850-$910 per ounce

• Company sees Otjikoto Mine all-in sustaining costs at $965-$1,025 per ounce

Result Drivers

• HIGHER PRODUCTION - Gold production exceeded expectations at Fekola, Masbate, and Otjikoto mines, contributing to lower cash operating costs

• LOWER FUEL COSTS - Reduced fuel costs helped lower cash operating costs per gold ounce produced

• ROYALTIES IMPACT - Higher gold royalties due to increased average realized gold price affected all-in sustaining costs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for B2Gold Corp is C$6.33, about 17.5% above its August 7 closing price of C$5.22

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nGNX17Ny59