B2Gold Targets $0.20 Q4 EPS After $0.01 Year-Ago, Eyes 515k–550k Oz Output
B2Gold will report Q4 2025 earnings on Feb. 18 with analysts forecasting $0.20 per share versus $0.01 a year ago, despite a 9.1% downward revision in estimates over the past 60 days. The company projects 2025 gold output of 515,000–550,000 ounces from Fekola, 185,000–205,000 ounces from Otjikoto and 190,000–210,000 ounces from Masbate.
1. Q4 Earnings Preview
B2Gold will release its Q4 2025 results on Feb. 18 after markets close, with the consensus EPS estimate at $0.20 compared with $0.01 in Q4 2024. Analyst projections have fallen 9.1% over the last 60 days, while the company’s average surprise across the past four quarters is a 24.4% shortfall.
2. Production and Price Drivers
The company anticipates 2025 output of 515,000–550,000 ounces at Fekola, 185,000–205,000 ounces at Otjikoto and 190,000–210,000 ounces at Masbate. Elevated gold prices—propelled by geopolitical tensions, a weaker U.S. dollar and central bank purchases—stayed near record highs during the October–December period, bolstering revenue potential.
3. Cost Inflation Impact
Rising reagent, fuel and consumable prices, along with higher labor costs and a stronger foreign exchange rate, have increased all-in sustaining costs across B2Gold’s sites. These input cost pressures are expected to weigh on Q4 margins despite higher production and gold prices.
4. Share Performance and Analyst Outlook
B2Gold shares have climbed 117.4% over the past year, underperforming the industry’s 147.7% gain. The company holds an Earnings ESP of +1.24% and a Rank #3 rating, signaling a potential EPS beat in the upcoming report.