Canada's B2Gold lowers 2026 all-in sustaining cost guidance after strong Q3 gold production
BTG•B2Gold lowered its 2026 all-in sustaining cost guidance to $2,230-$2,410 per ounce sold while maintaining gold production guidance at 820,000-920,000 ounces. Q3 revenue was $836 million, above the $816.67 million consensus, while adjusted EPS of $0.14 missed the $0.16 estimate.
1. Q3 results
B2Gold reported Q3 revenue of $836 million and adjusted net income of $183 million, both above analyst estimates. Adjusted EPS was $0.14, below the $0.16 consensus. The company returned $59 million to shareholders through dividends and share buybacks.
2. 2026 outlook
The company lowered its 2026 all-in sustaining cost guidance to $2,230-$2,410 per ounce sold and maintained its gold production forecast at 820,000-920,000 ounces. Strong production at Masbate and Otjikoto contributed to lower-than-expected operating and all-in sustaining costs.
3. Growth projects
B2Gold said it received the Menankoto exploitation permit and began mining pre-stripping activities. Ore from Menankoto is expected at the Fekola plant in Q1 2027. The company also completed Phase 1 upgrades to the Goose fixed crushing circuit, increasing throughput to 3,200 tonnes per day.
