B2Gold Corp.

TSX:BTO Stock Report

Market Cap: CA$8.5b

B2Gold Future Growth

Future criteria checks 5/6

B2Gold is forecast to grow earnings and revenue by 70.1% and 15.3% per annum respectively. EPS is expected to grow by 75.6% per annum. Return on equity is forecast to be 21.7% in 3 years.

Key information

70.1%

Earnings growth rate

75.58%

EPS growth rate

Metals and Mining earnings growth27.0%
Revenue growth rate15.3%
Future return on equity21.75%
Analyst coverage

Good

Last updated24 Nov 2025

Recent future growth updates

Recent updates

Shareholders Will Be Pleased With The Quality of B2Gold's (TSE:BTO) Earnings

Nov 12
Shareholders Will Be Pleased With The Quality of B2Gold's (TSE:BTO) Earnings

There's No Escaping B2Gold Corp.'s (TSE:BTO) Muted Revenues Despite A 28% Share Price Rise

Oct 07
There's No Escaping B2Gold Corp.'s (TSE:BTO) Muted Revenues Despite A 28% Share Price Rise

Here's Why B2Gold (TSE:BTO) Can Manage Its Debt Responsibly

Sep 11
Here's Why B2Gold (TSE:BTO) Can Manage Its Debt Responsibly
User avatar

Goose And Fekola Regional Will Expand Gold Production

Successful new project ramp-ups and operational efficiency measures position the company for increased production, revenue, and margin stability despite industry cost pressures.

There Is A Reason B2Gold Corp.'s (TSE:BTO) Price Is Undemanding

May 26
There Is A Reason B2Gold Corp.'s (TSE:BTO) Price Is Undemanding

Is B2Gold (TSE:BTO) A Risky Investment?

May 04
Is B2Gold (TSE:BTO) A Risky Investment?

B2Gold Corp.'s (TSE:BTO) Prospects Need A Boost To Lift Shares

Feb 12
B2Gold Corp.'s (TSE:BTO) Prospects Need A Boost To Lift Shares

Is B2Gold (TSE:BTO) Using Debt Sensibly?

Jan 22
Is B2Gold (TSE:BTO) Using Debt Sensibly?

Earnings and Revenue Growth Forecasts

TSX:BTO - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20274,4931,5781,8522,0937
12/31/20263,9201,0261,0231,3488
12/31/20253,1544992359568
9/30/20252,507219-177726N/A
6/30/20252,172-434-331538N/A
3/31/20251,973-612-501346N/A
12/31/20241,902-630-24878N/A
9/30/20241,914-73114963N/A
6/30/20241,944-1411301,089N/A
3/31/20241,922-362741,221N/A
12/31/20231,93410-110714N/A
9/30/20232,015281129780N/A
6/30/20231,929301265762N/A
3/31/20231,841258271692N/A
12/31/20221,733253214596N/A
9/30/20221,666232214592N/A
6/30/20221,785379446819N/A
3/31/20221,766409389686N/A
12/31/20211,762420446724N/A
9/30/20211,716452398655N/A
6/30/20211,692591376634N/A
3/31/20211,771647594880N/A
12/31/20201,789628618951N/A
9/30/20201,623633562918N/A
6/30/20201,447411435777N/A
3/31/20201,272328322634N/A
12/31/20191,156286236492N/A
9/30/20191,073105206407N/A
6/30/20191,04299N/A397N/A
3/31/20191,01784N/A378N/A
12/31/20181,051119N/A451N/A
9/30/2018995156N/A398N/A
6/30/2018869134N/A290N/A
3/31/2018791128N/A263N/A
12/31/201763957N/A155N/A
9/30/201764633N/A212N/A
6/30/201768557N/A260N/A
3/31/201768525N/A280N/A
12/31/201668339N/A412N/A
9/30/2016641-87N/A378N/A
6/30/2016587-137N/A322N/A
3/31/2016559-148N/A288N/A
12/31/2015554-150N/A175N/A
9/30/2015537-386N/A168N/A
6/30/2015513-645N/A168N/A
3/31/2015496-635N/A157N/A
12/31/2014487-665N/A117N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BTO's forecast earnings growth (70.1% per year) is above the savings rate (2.8%).

Earnings vs Market: BTO's earnings (70.1% per year) are forecast to grow faster than the Canadian market (12.4% per year).

High Growth Earnings: BTO's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BTO's revenue (15.3% per year) is forecast to grow faster than the Canadian market (5.1% per year).

High Growth Revenue: BTO's revenue (15.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BTO's Return on Equity is forecast to be high in 3 years time (21.7%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/12/05 23:16
End of Day Share Price 2025/12/05 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

B2Gold Corp. is covered by 27 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Brian QuastBMO Capital Markets Equity Research
Lawson WinderBofA Global Research
Carey MacRuryCanaccord Genuity