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
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
2026 production and cost guidance
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
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