Canada's B2Gold Q2 revenue and adjusted EPS miss estimates, narrows 2026 gold production guidance

B2Gold

06/08/2026 23:01

Overview
Canada gold producer's Q2 revenue and adjusted EPS missed analyst expectations
Company repurchased $92 mln in shares under normal course issuer bid
Full-year gold production guidance narrowed due to operational challenges at Goose and Fekola Regional

Outlook
B2Gold narrows 2026 gold production guidance to 820,000-920,000 oz, down from 820,000-970,000 oz
Company maintains 2026 cash operating cost guidance at $1,155-$1,280/oz produced
All-in sustaining cost guidance for 2026 lowered to $2,370-$2,550/oz sold, from $2,400-$2,580/oz

Result Drivers
MIXED MINE PERFORMANCE - Higher than anticipated gold production at Fekola, Masbate and Otjikoto offset by lower output at Goose due to a fire in the crushing circuit
COST MANAGEMENT - Lower than expected processing costs at Masbate and lower sustaining capital expenditures contributed to reduced cash operating and all-in sustaining costs
REALIZED LOSSES AND TAXES - Adjusted net income included $71 mln of realized losses on gold collars and was impacted by higher cash tax payments and prepaid gold sales

Company press release: ID:nGNX1jJxSZ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$789.35 mln
$879.44 mln (3 Analysts)
Q2 Adjusted EPS
Miss
$0.03
$0.09 (7 Analysts)
Q2 EPS
 
$0.29
 
Q2 Adjusted Net Income
Miss
$40.88 mln
$146.12 mln (2 Analysts)
Q2 Net Income
 
$419.62 mln
 
Q2 Basic EPS
 
$0.31
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 5 "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$9.50, about 65.2% above its August 5 closing price of C$5.75
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 5 three months ago

Reuters Recommended Reads
Aug 6 - Canada's Wheaton Precious Metals Q2 revenue misses estimates
Aug 6 - Canada's IAMGOLD Q2 adjusted EBITDA rises on higher gold prices
Aug 5 - Canada's Equinox Gold Q2 revenue slightly misses estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)