B2Gold Corp.

LSE:0QYN Stock Report

Market Cap: CA$5.3b

B2Gold Valuation

Is 0QYN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0QYN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0QYN (CA$4.03) is trading below our estimate of fair value (CA$7.16)

Significantly Below Fair Value: 0QYN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0QYN?

Key metric: As 0QYN is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0QYN. This is calculated by dividing 0QYN's market cap by their current revenue.
What is 0QYN's PS Ratio?
PS Ratio2x
SalesUS$1.91b
Market CapUS$3.81b

Price to Sales Ratio vs Peers

How does 0QYN's PS Ratio compare to its peers?

The above table shows the PS ratio for 0QYN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.7x
CEY Centamin
2.3x5.7%UK£1.7b
HOC Hochschild Mining
1.9x9.5%UK£1.2b
PAF Pan African Resources
2.5x9.7%UK£735.0m
NLMK Novolipetsk Steel
0.3xn/aUS$4.1b
0QYN B2Gold
2x16.3%CA$5.3b

Price-To-Sales vs Peers: 0QYN is good value based on its Price-To-Sales Ratio (2x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does 0QYN's PS Ratio compare vs other companies in the GB Metals and Mining Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
GLEN Glencore
0.3x-0.8%US$58.01b
NLMK Novolipetsk Steel
0.3xn/aUS$4.08b
EVR EVRAZ
0.1x-8.5%US$1.42b
PDL Petra Diamonds
0.2x8.5%US$81.28m
0QYN 2.0xIndustry Avg. 2.0xNo. of Companies14PS01.22.43.64.86+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 0QYN is expensive based on its Price-To-Sales Ratio (2x) compared to the UK Metals and Mining industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is 0QYN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0QYN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2x
Fair PS Ratio4.8x

Price-To-Sales vs Fair Ratio: 0QYN is good value based on its Price-To-Sales Ratio (2x) compared to the estimated Fair Price-To-Sales Ratio (4.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0QYN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$4.03
CA$6.42
+59.4%
15.7%CA$8.08CA$4.99n/a9
Nov ’25CA$4.61
CA$6.46
+40.2%
16.4%CA$8.04CA$5.02n/a9
Oct ’25CA$4.22
CA$6.17
+46.5%
13.7%CA$7.52CA$4.99n/a9
Sep ’25CA$3.79
CA$5.94
+56.8%
14.8%CA$7.00CA$4.20n/a9
Aug ’25CA$4.12
CA$6.35
+54.2%
13.2%CA$7.57CA$5.00n/a9
Jul ’25CA$3.70
CA$6.22
+68.2%
12.5%CA$7.48CA$5.01n/a9
Jun ’25CA$3.88
CA$6.04
+56.0%
14.5%CA$7.45CA$4.97n/a9
May ’25CA$3.49
CA$6.45
+84.8%
16.6%CA$8.02CA$5.01n/a9
Apr ’25CA$3.55
CA$6.13
+72.9%
14.0%CA$7.31CA$5.02n/a9
Mar ’25CA$3.38
CA$6.33
+87.2%
12.7%CA$7.28CA$5.01n/a9
Feb ’25CA$3.80
CA$6.43
+69.3%
14.0%CA$8.00CA$4.99n/a9
Jan ’25CA$4.18
CA$7.08
+69.3%
8.8%CA$7.81CA$5.50n/a9
Dec ’24CA$4.54
CA$7.20
+58.7%
9.0%CA$7.87CA$5.55n/a9
Nov ’24CA$4.50
CA$7.37
+64.1%
10.8%CA$9.08CA$6.00CA$4.6110
Oct ’24CA$3.90
CA$7.79
+99.9%
11.5%CA$9.56CA$6.49CA$4.2211
Sep ’24n/a
CA$7.84
0%
11.3%CA$9.71CA$6.57CA$3.7912
Aug ’24CA$4.54
CA$7.82
+72.4%
11.0%CA$9.51CA$6.44CA$4.1212
Jul ’24CA$4.60
CA$7.88
+71.3%
11.4%CA$9.57CA$6.39CA$3.7012
Jun ’24CA$5.07
CA$8.01
+58.1%
10.8%CA$9.54CA$6.56CA$3.8812
May ’24CA$5.61
CA$7.87
+40.4%
11.3%CA$9.49CA$6.54CA$3.4912
Apr ’24CA$5.37
CA$7.27
+35.3%
12.9%CA$8.52CA$5.87CA$3.5511
Mar ’24CA$4.82
CA$7.30
+51.5%
12.8%CA$8.52CA$5.87CA$3.3811
Feb ’24CA$5.30
CA$7.26
+37.2%
15.3%CA$9.95CA$5.74CA$3.8012
Jan ’24CA$4.81
CA$7.23
+50.2%
17.9%CA$10.51CA$5.30CA$4.1812
Dec ’23CA$4.57
CA$7.12
+55.8%
17.7%CA$10.36CA$5.29CA$4.5412
Nov ’23n/a
CA$7.17
0%
17.4%CA$10.35CA$5.33CA$4.5012

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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