Executive Summary
B2Gold Corp. operates as a gold producer with three operating mines in Mali, the Philippines, and Namibia. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 1.5% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet with outstanding track record.
Similar Companies
Share Price & News
How has B2Gold's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BTO is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: BTO's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
0.3%
BTO
1.9%
CA Metals and Mining
-0.2%
CA Market
1 Year Return
13.2%
BTO
33.4%
CA Metals and Mining
1.5%
CA Market
Return vs Industry: BTO underperformed the Canadian Metals and Mining industry which returned 33.7% over the past year.
Return vs Market: BTO exceeded the Canadian Market which returned 1.4% over the past year.
Shareholder returns
| BTO | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.3% | 1.9% | -0.2% |
| 30 Day | -10.4% | -0.6% | 2.7% |
| 90 Day | -27.3% | -2.4% | 12.5% |
| 1 Year | 15.4%13.2% | 34.6%33.4% | 5.2%1.5% |
| 3 Year | 67.3%63.6% | 39.6%36.6% | 13.5%2.7% |
| 5 Year | 514.3%500.9% | 161.0%152.6% | 60.0%35.5% |
Long-Term Price Volatility Vs. Market
How volatile is B2Gold's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall St
B2Gold Corp. (TSE:BTO) Insiders Have Been Selling1 month ago | Simply Wall St
B2Gold Corp. (TSE:BTO) Shares Could Be 26% Below Their Intrinsic Value Estimate1 month ago | Simply Wall St
What You Need To Know About B2Gold Corp.'s (TSE:BTO) Investor CompositionValuation
Is B2Gold undervalued compared to its fair value and its price relative to the market?
25.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BTO (CA$6.43) is trading below our estimate of fair value (CA$8.67)
Significantly Below Fair Value: BTO is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BTO is good value based on its PE Ratio (8.3x) compared to the CA Metals and Mining industry average (17.6x).
PE vs Market: BTO is good value based on its PE Ratio (8.3x) compared to the Canadian market (16.8x).
Price to Earnings Growth Ratio
PEG Ratio: BTO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: BTO is good value based on its PB Ratio (2.2x) compared to the CA Metals and Mining industry average (3x).
Next Steps
Future Growth
How is B2Gold forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?
-1.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BTO's earnings are forecast to decline over the next 3 years (-1.5% per year).
Earnings vs Market: BTO's earnings are forecast to decline over the next 3 years (-1.5% per year).
High Growth Earnings: BTO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: BTO's revenue (1.6% per year) is forecast to grow slower than the Canadian market (8% per year).
High Growth Revenue: BTO's revenue (1.6% 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 low in 3 years time (14.6%).
Next Steps
Past Performance
How has B2Gold performed over the past 5 years?
73.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BTO has high quality earnings.
Growing Profit Margin: BTO's current net profit margins (39%) are higher than last year (10%).
Past Earnings Growth Analysis
Earnings Trend: BTO has become profitable over the past 5 years, growing earnings by 73.3% per year.
Accelerating Growth: BTO's earnings growth over the past year (491.4%) exceeds its 5-year average (73.3% per year).
Earnings vs Industry: BTO earnings growth over the past year (491.4%) exceeded the Metals and Mining industry 78.3%.
Return on Equity
High ROE: BTO's Return on Equity (26.7%) is considered high.
Next Steps
Financial Health
How is B2Gold's financial position?
Financial Position Analysis
Short Term Liabilities: BTO's short term assets ($662.7M) exceed its short term liabilities ($294.5M).
Long Term Liabilities: BTO's short term assets ($662.7M) exceed its long term liabilities ($354.7M).
Debt to Equity History and Analysis
Debt Level: BTO's debt to equity ratio (1.6%) is considered satisfactory.
Reducing Debt: BTO's debt to equity ratio has reduced from 29.6% to 1.6% over the past 5 years.
Debt Coverage: BTO's debt is well covered by operating cash flow (2248.2%).
Interest Coverage: BTO's interest payments on its debt are well covered by EBIT (64x coverage).
Balance Sheet
Next Steps
Dividend
What is B2Gold current dividend yield, its reliability and sustainability?
3.17%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BTO's dividend (3.17%) is higher than the bottom 25% of dividend payers in the Canadian market (1.55%).
High Dividend: BTO's dividend (3.17%) is low compared to the top 25% of dividend payers in the Canadian market (4.91%).
Stability and Growth of Payments
Stable Dividend: Too early to tell whether BTO's dividend payments have been stable as they only just started paying a dividend.
Growing Dividend: Too early to tell if BTO's dividend payments are increasing as they only just started paying a dividend.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (13.1%), BTO's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BTO's dividends in 3 years are forecast to be well covered by earnings (33.1% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
13.8yrs
Average management tenure
CEO
Clive Johnson (62 yo)
13.83yrs
Tenure
US$5,720,509
Compensation
Mr. Clive Thomas Johnson has been the Chief Executive Officer and President of B2Gold Corp. since March 2007 and December 17, 2006 respectively. Mr. Johnson served as President and Chief Executive Officer ...
CEO Compensation Analysis
Compensation vs Market: Clive's total compensation ($USD5.72M) is above average for companies of similar size in the Canadian market ($USD3.61M).
Compensation vs Earnings: Clive's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 13.83yrs | US$5.72m | 0.25% $ 16.7m | |
| Senior VP of Finance & CFO | 6.75yrs | US$4.77m | 0% $ 0 | |
| Senior Vice President of Operations | 10.08yrs | US$4.77m | 0.0076% $ 517.0k | |
| Executive VP | 13.83yrs | US$2.01m | 0.074% $ 5.0m | |
| Senior Vice President of Engineering & Project Evaluations | 13.83yrs | US$1.97m | 0.28% $ 19.3m | |
| Senior Vice President of Exploration | 13.83yrs | US$2.01m | 0.19% $ 12.9m | |
| Vice President of Geology & Technical Services | no data | no data | 0.014% $ 961.1k | |
| Director of Human Resources & Administration | no data | no data | no data | |
| Vice President of Investor Relations | no data | no data | 0.049% $ 3.3m | |
| Chief Mine Planning Engineer | no data | no data | no data | |
| Managing Director and Country Manager of Namibia | no data | no data | no data | |
| Chief Executive Officer of Auryx | no data | no data | no data |
13.8yrs
Average Tenure
61.5yo
Average Age
Experienced Management: BTO's management team is seasoned and experienced (13.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 13.83yrs | US$5.72m | 0.25% $ 16.7m | |
| Independent Director | 4.83yrs | US$248.33k | 0.048% $ 3.2m | |
| Independent Director | 13.25yrs | US$271.10k | 0.019% $ 1.3m | |
| Independent Director | 13.17yrs | US$251.59k | 0.26% $ 17.4m | |
| Independent Non-Executive Chairman | 13.25yrs | US$375.40k | no data | |
| Independent Director | 7.08yrs | US$236.17k | 0.0058% $ 389.3k | |
| Independent Director | 9.08yrs | US$240.38k | 0.0022% $ 146.7k | |
| Independent Director | 3.25yrs | US$240.03k | 0.00019% $ 12.8k | |
| Director | 1yr | no data | no data |
9.1yrs
Average Tenure
62yo
Average Age
Experienced Board: BTO's board of directors are considered experienced (9.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2%.
Top Shareholders
Company Information
B2Gold Corp.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: B2Gold Corp.
- Ticker: BTO
- Exchange: TSX
- Founded: 2006
- Industry: Gold
- Sector: Materials
- Market Cap: CA$6.759b
- Shares outstanding: 1.05b
- Website: https://www.b2gold.com
Number of Employees
Location
- B2Gold Corp.
- Three Bentall Centre
- Suite 3100
- Vancouver
- British Columbia
- V7X 1J1
- Canada
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BTO | TSX (The Toronto Stock Exchange) | Yes | Common Shares | CA | CAD | Dec 2007 |
| 5BG | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Dec 2007 |
| BTG | AMEX (NYSE MKT LLC) | Yes | Common Shares | US | USD | Dec 2007 |
| B2G | NMSE (Namibian Stock Exchange) | Yes | Common Shares | NA | ZAR | Dec 2007 |
| 0QYN | LSE (London Stock Exchange) | Yes | Common Shares | GB | CAD | Dec 2007 |
Biography
B2Gold Corp. operates as a gold producer with three operating mines in Mali, the Philippines, and Namibia. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/23 23:17 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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 here.