B2Gold Corp.

AMEX•BTG

CEO: Mr. Clive Thomas Johnson

Sector: Basic Materials

Industry: Gold

Listing Date: 2008-06-24

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp. In addition, it has a portfolio of other evaluation and exploration assets in Mali and Finland. The company was incorporated in 2006 and is headquartered in Vancouver, Canada.

Contact Information

Park Place, Suite 3400 666 Burrard Street, Vancouver, BC, V6C 2X8, Canada

604-681-8371

www.b2gold.com

Market Cap

$6.23B

P/E (TTM)

15.4

20.4

Dividend Yield

1.7%

52W High

$6.29

52W Low

$2.53

52W Range

56%

Rank38Top 36.9%

4.3

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Average • 4.3 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$1.05B+0.00%

4-Quarter Trend

EPS

$0.13+0.00%

4-Quarter Trend

FCF

$127.62M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

2026 Production Guidance Set Consolidated gold production projected between 820,000 and 970,000 ounces for the 2026 fiscal year based on current plans.

Fekola Permit Expected Q1 Exploitation permit for Fekola Regional expected Q1 2026; production start scheduled for second half 2026 ramping up thereafter.

Shares Outstanding Reported Total common shares outstanding as of December 31, 2025, totaled 1,340,621,856 shares registered on NYSE American LLC.

Goose Mine Growth Trajectory Goose Mine annual gold output expected to exceed 300,000 ounces annually starting in the 2027 fiscal year period.

Risk Factors

Metal Price Volatility Risk Significant uncertainty exists regarding future metal prices impacting operational estimates and overall financial performance calculations.

Regulatory and Tax Changes Exposure to changing tax laws, foreign laws, and resource nationalization policies, particularly in operating jurisdictions like the Philippines.

Reserve Estimate Uncertainty Inferred mineral resources carry significant geological uncertainty and may not convert to economically viable mineral reserves under modifying factors.

Operational Permitting Hurdles Ability to obtain and maintain necessary permits, consents, and authorizations required for ongoing mining activities remains a critical factor.

Outlook

Fekola Ramp-Up Plan Fekola Regional targets peak output of 180,000 ounces over five years, averaging 160,000 ounces over the life of operations.

Gramalote Project Development Potential development of Gramalote Project as an open pit gold mine pending approval of the Modified Work Plan and Environmental Study.

Antelope Contribution Expected Antelope deposit development planned to contribute up to 65,000 ounces annually during the low-grade stockpile processing period 2028 through 2032.

Exploration Budget Allocation Planned 2026 exploration budgets target grassroots projects across Canada, Mali, Namibia, Philippines, and Finland regions for future growth.

Peer Comparison

Revenue (TTM)

CLF

$18.61B

-3.0%

$15.58B

-11.7%

SBSW

$13.20B

+9.9%

Gross Margin (Latest Quarter)

85.5%

-13.7pp

TFPM

72.8%

+38.7pp

IAG

53.9%

+1.5pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
HL	$12.82B	39.8	13.7%	7.9%
IAG	$11.26B	16.4	18.4%	13.3%
BVN	$9.21B	11.7	21.2%	11.8%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

25.6%

Strong Growth

4Q Net Income CAGR

43.6%

Profitability Improved

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:May 5, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data