B2Gold stock (April 2026) | Growth, Valuation & Analysis

B2Gold

TSX:BTO

C$ 6,76

C$-0,10 (-1,46%)

6,76 C$

C$-0,10 (-1,46%)

End-of-day quote: 04/20/2026

B2Gold Stock Value

The current analyst rating for B2Gold is Outperform.

Outperform

B2Gold Company Info

EPS Growth 5Y

5,15%

Market Cap

C$9,04 B

Long-Term Debt

C$0,77 B

Short Interest

4,28%

Quarterly earnings

05/06/2026

Dividend

C$0,11

Dividend Yield

1,59%

Founded

2006

Industry

Materials

Country

Canada

ISIN Number

CA11777Q2099

Website

http://www.b2gold.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

C$9,32

37.87%

Last Update: 04/21/2026

Analysts: 9

Highest Price Target C$11,34

Average Price Target C$9,32

Lowest Price Target C$6,77

In the last five quarters, B2Gold’s Price Target has risen from C$3,72 to C$5,51 - a 48,12% increase. Ten analysts predict that B2Gold’s share price will increase in the coming year, reaching C$9,32. This would represent an increase of 37,87%.

Top growth stocks in the materials sector (5Y.)

What does B2Gold do?

B2Gold Corp. operates as a gold producer company in Canada. The company’s primary focus on acquiring and developing interests in mineral properties with demonstrated potential for hosting economic mineral deposits, with gold deposits. The company conducts gold mining operations and exploration and drilling campaigns to define and develop Mineral Resources and Mineral Reserves on its properties with an intention of developing, constructing and operating mines on such properties. The company’s pr...

B2Gold Corp. operates as a gold producer company in Canada.

The company’s primary focus on acquiring and developing interests in mineral properties with demonstrated potential for hosting economic mineral deposits, with gold deposits. The company conducts gold mining operations and exploration and drilling campaigns to define and develop Mineral Resources and Mineral Reserves on its properties with an intention of developing, constructing and operating mines on such properties. The company’s principal product is gold.

The company operates through three mines: the Fekola Mine in Mali, the Masbate Mine in the Philippines and the Otjikoto Mine in Namibia, and a fourth mine under construction in Canada, the Goose Project. The company also owns the Gramalote Project in Colombia. The company holds an approximately 33% interest in Versamet Royalties Corporation (‘Versamet’) and a portfolio of exploration and development projects in a number of countries including Mali, Colombia and Finland.

The company’s reportable operating segments for 2024 include its mining operations and development projects, namely the Fekola, Masbate and Otjikoto mines and the Goose Project. It also includes the Fekola Regional properties which are in the exploration & evaluation stage.

The Fekola Regional segment includes the Bantako North, Menankoto, Dandoko and Bakolobi properties.

The Other Mineral Properties segment consists of the company’s interests in mineral properties which are at various stages of exploration and evaluation, including its interest in the Gramalote Project, as well as the company's equity accounting for its investment in its associates Versamet and BeMetals.

International Operations

The company’s principal operations and assets are in various countries, including Mali, Namibia, the Philippines, Canada and Colombia.

In addition, the company has a portfolio of other development and exploration projects in several countries, including Mali, Finland, Cote d'Ivoire and Colombia. The company’s material properties consist of the following three mines and one mine under construction:

Fekola mine (80% ownership), an open pit and future underground gold mine located approximately 40 kilometres (‘km’) south of the city of Kenieba, Mali (the ‘Fekola Mine’);

Otjikoto mine (90% ownership), an open pit and underground gold mine located approximately 300 km north of Windhoek, the capital of Namibia (the ‘Otjikoto Mine’);

Masbate gold project, an open pit gold mine, located near the northern tip of the island of Masbate, 360 km southeast of Manila, the capital of the Philippines (the ‘Masbate Gold Project’); and

Goose project (100% ownership), an open pit and underground gold mine under construction located in the Back River Gold District in Nunavut, Canada, approximately 520 km northeast of Yellowknife, the Northwest Territories (the ‘Goose Project’).

Material Properties

Fekola Complex

The Fekola Complex is in southwestern Mali on the border between Mali and Senegal.

The Medinandi Exploitation Licence hosts the Fekola Mine. The Medinandi Exploitation Licence was initially held in the name of Songhoi Resources SARL (‘Songhoi’). In October 2014, the company acquired a 90% interest in Songhoi through the acquisition of Papillon Resources Pty. Ltd. (‘Papillon’), and in January 2015 it purchased the remaining 10% non-controlling interest in Songhoi held by Mani SARL.

Fekola S.A., the company’s Malian exploitation company, was incorporated on March 17, 2016, and merged with Songhoi in December 2016 to become the holder of the Medinandi Exploitation Licence. As required under the 2012 Mining Code, the company contributed a 10% free carried non-dilutable interest in Fekola S.A. to the State of Mali, and the State of Mali also had the option to purchase an additional 10% participating interest in Fekola S.A. As a result, the State of Mali holds a 20% interest in Fekola S.A., and the company holds the remaining 80% interest.

The Fekola Convention governs the procedural and economic parameters under which the company operates the Fekola Mine. The Fekola Convention will expire in 2040, as provided under the 2024 MOU.

The State of Mali owns all surface rights in the Fekola Mine area, and no surface rights have been registered to a private entity.

The Fekola Complex is hosted in Birimian Supergroup rocks within the eastern portion of the Paleo-Proterozoic Kedougou-Kenieba inlier, which covers eastern Senegal and western Mali.

In 2024, the Fekola Complex produced 392,946 ounces of gold.

Masbate Gold Project

The Masbate Gold Project is located on Masbate Island in the Republic of the Philippines. The company holds its interest in the Masbate Gold Project through indirectly owned subsidiaries. The company has a 40% interest in Filminera and a 100% interest in PGPRC. The remaining 60% interest in Filminera is held by a Philippine-registered company, Zoom Mineral Holdings, Inc., which is wholly owned by Filipino shareholders. Filminera holds the Masbate Gold Project tenements and is responsible for the mining, environmental, social and community relations at the Masbate Gold Project site. Philippine Gold Processing & Refining Corp. (PGPRC) developed and owns the process plant on the island of Masbate and is responsible for the sale of all gold.

The company holds a 40% interest in Vicar Mining Corporation (VMC). Filminera owns the Pajo property located within the MPSA assigned by VMC to Filminera that covers an area of approximately 786 ha and expires in 2030.

The Masbate Gold Project produced 194,046 ounces of gold in 2024.

Otjikoto Mine

The Otjikoto Mine is in the north-central part of the Republic of Namibia. The Otjikoto Mine can be accessed off the main B1 road, a primary paved road, from the towns of Otjiwarongo or Otavi located approximately 70 km to the southwest and 50 km to the northeast of the Otjikoto Mine.

Mining Licence 169 (‘ML169’), covering an area of 6,933.98 ha, was granted for a 20-year term, expiring in December 2032, and renewable for further periods, each term not exceeding 15 years.

B2Gold Namibia (Proprietary) Limited (‘B2Gold Namibia’), the holder of ML169 and operator of the Otjikoto Mine, is 90% owned, indirectly, by the company and 10% by EVI, a Namibian empowerment company.

In addition, the company has purchased and consolidated a number of farms into B2Gold Namibia Property (Pty) Ltd., including the Wolfshag, Otjikoto, Gerhardshausen, Felsenquelle, and Erhardtshof farms. The company holds the surface rights through these farms, and all mine infrastructure and the Otjikoto Mine itself are situated within property owned by B2Gold Namibia. No additional surface rights are required to support the company’s mining operations.

The company holds water permit No. 10971, allowing for 4.0 million cubic metres per annum water extraction from selected groundwater wells subject to certain monitoring and reporting conditions, which has been renewed until February 2026.

The Otjikoto Mine produced 198,142 ounces of gold in 2024.

Goose Project

The Back River District is situated within the West Kitikmeot region of southwestern Nunavut. The Goose Mine is situated approximately 400 km southwest of Cambridge Bay, 95 km southeast of the southern end of Bathurst Inlet, and 520 km northeast of Yellowknife, Northwest Territories.

Other Properties

Gramalote Project

On December 23, 2019, the company entered into an amended and restated agreement with AngloGold with respect to the Gramalote Project, and on January 1, 2020, it assumed the role of the operator of the Gramalote Project. The in-country operating entity is Gramalote Colombia Limited (‘Gramalote Colombia’). On October 5, 2023, the company acquired the remaining 50% interest of the Gramalote Project owned by AngloGold, resulting in B2Gold owning 100% of the Gramalote Project.

The Gramalote Project is located approximately 230 km northwest of the Colombian capital of Bogota and approximately 100 km northeast of Medellin, the regional capital of the Department of Antioquia. Gramalote Colombia holds 11,023.28 ha in three registered concession contracts, namely integrated mining permit 14292, totalling 8,720.71 ha (referred to as the Gramalote Ridge permit), concession title 4894, totalling 2,292.81 ha (referred to as the Trinidad permit) and concession QHQ-16081, totalling 9.78 ha. In addition, there is an application for mineral title, LJC-0812, which collectively total 11,114.41 ha. Once in production, state royalties on the gold and silver will be payable at approximately 3.2% of the gross metal value at the plant site.

Environmental, Occupational Health and Safety, Social and Regulatory

The company has implemented an integrated set of Health, Safety and Environmental (‘HSE’) Management System Standards (‘Management System Standards’) and a set of stand-alone Performance Standards for operational health and safety (‘OHS’) and environment and biodiversity (‘Performance Standards’) that identify, define and prescribe the requirements for the development, implementation and administration of HSE activities at corporate and operational site locations.

History

B2Gold Corp. was founded in 2006. The company was incorporated under the Business Corporations Act (British Columbia) (BCBCA) in 2006.

B2Gold Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Industry Revenues:** - Gold production: 100% **TOP 3 Markets:** 1. **Mali:** approx. 40% 2. **Philippines:** approx. 35% 3. **Namibia:** approx. 25% B2Gold Corp. generates its revenues entirely from gold production. The company's main markets are Mali, the Philippines, and Namibia, which to...

At which locations are the company’s products manufactured?

**Main production sites of B2Gold Corp.:** 1. **Fekola Mine:** Mali 2. **Masbate Mine:** Philippines 3. **Otjikoto Mine:** Namibia B2Gold Corp. is a Canadian gold mining company that is mainly active in these three countries. The Fekola Mine in Mali is one of the company's most significant pr...

What strategy does B2Gold pursue for future growth?

**Production Growth:** 5% annually (estimated 2023-2025) **Exploration Budget:** $100 million USD (2024) B2Gold Corp. pursues a growth strategy based on increasing gold production and expanding through acquisitions and exploration. The company plans to increase its production capacities by optimi...

Which raw materials are imported and from which countries?

**Main raw material:** Gold **Imported materials:** Chemicals (e.g. cyanide), machinery and equipment **Main importing countries:** USA, Canada, South Africa B2Gold Corp. is primarily engaged in gold mining and mainly imports materials and equipment necessary for the mining process. This includes...

How strong is the company’s competitive advantage?

**Gold Production:** 1.1 million ounces (2024) **All-in Sustaining Costs (AISC):** $1,000 per ounce (2024) **Market Share:** 2.5% of the global gold market (2024) B2Gold Corp. has positioned itself as one of the most cost-efficient gold producers, providing a significant competitive advantage....

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** 60% (estimated for 2025 based on trends from 2023) **Insider Buys/Sells:** No significant changes in the last 12 months (estimated for 2025) The institutional investor share in B2Gold Corp. is estimated to be around 60%. This figure is based on trends from recent...

What percentage market share does B2Gold have?

**Market share of B2Gold Corp.:** 3.5% (2025, estimated) **Top competitors and their market shares:** 1. **Newmont Corporation:** 12.0% 2. **Barrick Gold Corporation:** 10.5% 3. **AngloGold Ashanti Limited:** 6.5% 4. **Gold Fields Limited:** 5.0% 5. **Kinross Gold Corporation:** 4.0% 6. **B2Gold C...

Is B2Gold stock currently a good investment?

**Gold production:** 1.05 million ounces (2024) **Operating cash flow:** $630 million USD (2024) **Exploration budget:** $80 million USD (2024) B2Gold Corp. achieved a gold production of 1.05 million ounces in 2024, demonstrating a solid production performance. The company generated an operatin...

Does B2Gold pay a dividend – and how reliable is the payout?

**Dividend Yield:** 4.5% (estimated for 2025) **Dividend History:** Continuous payout for several years B2Gold Corp. has regularly distributed dividends in recent years. The dividend yield is currently estimated at 4.5% for the year 2025, which is competitive compared to other companies in the...

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B2Gold Stock Value

B2Gold Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does B2Gold do?

B2Gold Questions and Answers

Offer & Services

Service & Collaboration

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B2Gold Stock Value

B2Gold Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does B2Gold do?

B2Gold Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.