Canada's B2Gold Q1 revenue more than doubles, profit jumps

B2Gold

06/05/2026 22:57

Overview

Canada gold miner's Q1 revenue more than doubled yr/yr to $1.16 bln

Adjusted net income for Q1 rose to $260 mln, up from $122 mln a year ago

Company repurchased $80 mln in shares and sold 70% stake in Fingold for $325 mln

Outlook

B2Gold expects Fekola Complex 2026 gold production of 410,000-460,000 ounces

Company forecasts Goose Mine Q2 2026 gold production of 18,000-20,000 ounces, down from prior estimate

Masbate Mine expected to produce 170,000-190,000 ounces of gold in 2026

Result Drivers

HIGHER GOLD PRODUCTION - All operations exceeded expected gold production, with outperformance attributed to higher throughput, ore grades, and recoveries at key mines

LOWER OPERATING COSTS - Cash operating costs and all-in sustaining costs were lower than expected due to higher gold production, lower mining and processing costs, and lower sustaining capital expenditures

FAVORABLE GOLD PRICES - Higher average realized gold price contributed to increased revenue and profitability

Company press release: ID:nGNX2f2n2Z

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.16 bln
$831.83 mln (2 Analysts)
Q1 EPS
$0.14
Q1 Adjusted Net Income
Beat
$259.88 mln
$171.26 mln (2 Analysts)
Q1 Net Income
$205.55 mln
Q1 Basic Adjusted EPS
$0.19


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$9.25, about 60.6% above its May 5 closing price of C$5.76

The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 6 three months ago

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.)