B2Gold (BTG)
Gold producer operating mines across Mali, Canada, the Philippines and Namibia.
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Markets gold from mines in Mali, Canada, the Philippines and Namibia through bullion dealers and refiners. Revenue reflects gold output and prices, alongside permits and distinct site-level ownership arrangements.
Produces gold through the Fekola, Goose, Masbate and Otjikoto mines in Mali, Canada, the Philippines and Namibia. Ore is refined to market-delivery standards and sold to bullion dealers or refiners at prices generally benchmarked to London gold quotations. Fekola is the largest revenue contributor, while Goose is the first Canadian operating mine.
Executes an acquire-build-operate model by purchasing or developing mineral assets, building mines and conducting exploration. Development avenues include Fekola Regional in Mali, Gramalote in Colombia, the Antelope underground deposit at Otjikoto and further exploration across the Back River district.
Depends on gold prices, reserve replacement, permits, local partners and country-specific mining, tax, environmental, labour and community requirements. Ownership is full at Goose but shared or structured differently at Fekola, Masbate and Otjikoto.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 10, 2026 | CIBC | Upgrade | Target: — | Target: $7.50 |
| Aug 10, 2026 | Scotiabank | Upgrade | ||
| Jul 9, 2026 | RBC Capital | Reiterate | Rating: —Target: — | Target: $5 |
| Jul 6, 2026 | Jefferies | Target | Target: — | Target: $6 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $289.7M · Total debt $455.5M · Total assets $5.74B · Shareholders' equity $3.97B
- Revenue
- $769.3M
- Operating income
- $273.4M
- Net income
- $406.7M
HistoryDividendAnnual yield
| Institutions | 59.67% | 799.95M ADS | |
|---|---|---|---|
| 333 holders · as of Jun 30, 2026 | |||
| Strategic holders | 5.14% | 68.92M ADS | |
| 1 holder · as of Feb 12, 2026 | |||
| Other | 35.19% | 471.75M ADS | |
| remainder | |||
1.34B ADS as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Van Eck Associates CorpInstitution | 6.80% | 91.12M ADS | as of Jun 30, 2026 |
Pale Fire Capital SICAV a.s.Strategic | 5.14% | 68.92M | filed Feb 12, 2026 |
Pale Fire Capital SEInstitution | 4.82% | 64.56M ADS | as of Jun 30, 2026 |
L1 Capital PTY LtdInstitution | 3.64% | 48.84M ADS | as of Jun 30, 2026 |
American Century Companies IncInstitution | 2.93% | 39.29M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| B2Gold | $5.48 | +2.33% | $7.14B | 9.9 | 6.4 | 1.9 | +14.0% |
| Equinox Gold | $12.50 | +2.75% | $9.60B | 12.2 | 8.6 | 3.7 | +60.8% |
| Alamos Gold | $35.71 | +1.41% | $14.79B | 12.8 | 14.2 | 6.7 | +35.6% |
| SSR Mining | $37.82 | +3.31% | $7.60B | 29.3 | 8.7 | 3.9 | +9.5% |
| Median | 12.8 | 8.7 | 3.9 | +35.6% |