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Canada's B2Gold lowers annual all-in sustaining cost guidance after strong gold production in Q3

By Reuters News


Overview

  • Canada gold miner's Q3 revenue rose, beating analyst expectations

  • Adjusted EPS for Q3 missed analyst expectations

  • Company returned $59 mln to shareholders via dividends and share buybacks


Outlook

  • B2Gold lowers 2026 all-in sustaining cost guidance to $2,230-$2,410/oz sold

  • Company maintains 2026 gold production guidance at 820,000-920,000 ounces

  • Ore from Menankoto expected at Fekola plant in Q1 2027, ramping up regional output


Result Drivers

  • MASBATE AND OTJIKOTO PRODUCTION - Co said strong gold production at Masbate and Otjikoto drove lower than expected operating and all-in sustaining costs

  • FEKOLA PERMIT - Co said receipt of Menankoto exploitation permit enabled start of mining pre-stripping activities, supporting growth at Fekola Complex

  • GOOSE CRUSHING UPGRADES - Co completed Phase 1 upgrades to Goose fixed crushing circuit, increasing throughput to 3,200 tpd


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$836 mln

$816.67 mln (3 Analysts)

Q3 Adjusted EPS

Miss

$0.14

$0.16 (9 Analysts)

Q3 EPS

$0.28

Q3 Adjusted Net Income

Beat

$183 mln

$151.06 mln (2 Analysts)

Q3 Net Income

$414 mln

Q3 Basic EPS

$0.31


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "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$9.75, about 48.4% above its November 3 closing price of C$6.57

  • The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago


Reuters Recommended Reads

  • Nov 4 - Canada's Aris Mining YTD gold production rises 16%

  • Nov 4 - Royal Gold Q3 revenue rises 84% on higher metal prices

  • Nov 3 - Hecla Mining's Q3 revenue rises 18%, beats 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.)

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