B2Gold
AMEX:BTG
BTG
AMEX
CA$4B
Market Cap
Company description
B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, Finland, and Namibia. The last earnings update was 39 days ago. More info.
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BTG Share Price and Events
7 Day Returns
-2.2%
AMEX:BTG
-1.5%
US Metals and Mining
-1.6%
US Market
1 Year Returns
-7.1%
AMEX:BTG
-19%
US Metals and Mining
-1.5%
US Market
BTG Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| B2Gold (BTG) | -2.2% | 3.6% | 19.1% | -7.1% | 131.9% | 26% |
| US Metals and Mining | -1.5% | -6.3% | -13.8% | -19% | 58.1% | -16% |
| US Market | -1.6% | -2.8% | -10.2% | -1.5% | 28.3% | 38.9% |
1 Year Return vs Industry and Market
- BTG outperformed the Metals and Mining industry which returned -19% over the past year.
- BTG underperformed the Market in United States of America which returned -1.5% over the past year.
Value
Is B2Gold undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
B2Gold
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data
Below are the data sources, inputs and calculation used to determine the intrinsic value for B2Gold.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 13 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 10.6% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 3% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 3% |
| Equity Risk Premium | S&P Global | 7.1% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 0.9 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.9 (1 + (1- 26.5%) (28.2%)) |
1.086 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.09 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (1.086 * 7.05%) |
10.61% |
Discounted Cash Flow Calculation for AMEX:BTG using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for B2Gold is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (USD, Millions) | 386.28 | 350.89 | 368.80 | 463.00 | 528.02 |
| Source | Analyst x8 | Analyst x8 | Analyst x2 | Analyst x1 | Est @ 14.04% |
|
Present Value Discounted (@ 10.61%) |
349.23 | 286.82 | 272.55 | 309.36 | 318.97 |
| Present value of next 5 years cash flows | $1,536.94 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $528.02 × (1 + 2.95%) ÷ (10.61% – 2.95%) |
$7,099.99 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $7,099.99 ÷ (1 + 10.61%)5 |
$4,289.03 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $1,536.94 + $4,289.03 |
$5,825.97 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $5,825.97 / 990.36 |
$5.88 |
| Calculation | Result | |
|---|---|---|
| Exchange Rate | USD/CAD
(Reporting currency to currency of TSX:BTO) |
1.338 |
| Value per Share (CAD) |
= Value per Share in USD x Exchange Rate (USD/CAD)
= $5.88 x 1.338 |
CA$7.87 |
| Non-primary Listing Adjustment Factor |
1 share in AMEX:BTG
represents 0.75072x
of
TSX:BTO
(This could be a different class, a depositary receipt, a different currency, or all of these things.) |
0.75072x |
| Value per Share (Listing Adjusted, USD) |
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 7.87 x 0.75072 |
$5.91 |
| Value per share (USD) | From above. | $5.91 |
| Current discount | Discount to share price of
$2.62
= -1 x ($2.62 - $5.91) / $5.91 |
55.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Amount off the current price
B2Gold
is available for.
>50%
Share price is
$2.62
vs Future cash flow value of
$5.91
Current Discount Checks
For
B2Gold
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
- B2Gold's share price is below the future cash flow value, and at a moderate discount (> 20%).
- B2Gold's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for B2Gold's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
B2Gold's earnings available for a low price, and how does
this compare to other companies in the same industry?
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-09-30) in USD | $0.12 |
| TSX:BTO Share Price ** | TSX (2018-12-14) in CAD | CA$3.49 |
| TSX:BTO Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.747 | $2.61 |
| United States of America Metals and Mining Industry PE Ratio | Median Figure of 42 Publicly-Listed Metals and Mining Companies | 7.94x |
| United States of America Market PE Ratio | Median Figure of 3,017 Publicly-Listed Companies | 17.04x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of B2Gold.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:BTO Share Price ÷ EPS (both in USD) = 2.61 ÷ 0.12 |
21.78x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- B2Gold is overvalued based on earnings compared to the US Metals and Mining industry average.
- B2Gold is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
B2Gold's expected growth come at a high price?
Raw Data
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 21.78x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts |
3.1%per year |
| United States of America Metals and Mining Industry PEG Ratio | Median Figure of 24 Publicly-Listed Metals and Mining Companies | 0.51x |
| United States of America Market PEG Ratio | Median Figure of 2,107 Publicly-Listed Companies | 1.17x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 21.78x ÷ 3.1% |
7.11x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- B2Gold is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
B2Gold's
assets?
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in USD | $1.67 |
| TSX:BTO Share Price * | TSX (2018-12-14) in CAD | CA$3.49 |
| TSX:BTO Share Price converted to USD reporting currency | Exchange rate (CAD/ USD) 0.747 | $2.61 |
| United States of America Metals and Mining Industry PB Ratio | Median Figure of 101 Publicly-Listed Metals and Mining Companies | 1.38x |
| United States of America Market PB Ratio | Median Figure of 5,074 Publicly-Listed Companies | 1.72x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:BTO Share Price ÷ Book Value per Share (both in USD) = 2.61 ÷ 1.67 |
1.56x |
* Primary Listing of B2Gold.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- B2Gold is overvalued based on assets compared to the US Metals and Mining industry average.
X
Value checks
We assess B2Gold's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) B2Gold has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
How is B2Gold expected to perform in the next 1 to 3 years based on estimates from 13 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
3.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is
B2Gold
expected to grow at an
attractive
rate?
- B2Gold's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
- B2Gold's earnings growth is positive but not above the United States of America market average.
- B2Gold's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
| Data Point | Source | Value (per year) |
|---|---|---|
| AMEX:BTG Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts | 3.1% |
| AMEX:BTG Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts | -0.6% |
| United States of America Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 15.3% |
| United States of America Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.1% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
Raw Data
All numbers in USD Millions and using
Trailing twelve months (TTM)
annual period rather than quarterly.
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | 1,199 | 344 | 1 | |
| 2021-12-31 | 1,222 | 434 | 89 | 3 |
| 2020-12-31 | 1,205 | 468 | 137 | 9 |
| 2019-12-31 | 1,236 | 480 | 184 | 13 |
| 2018-12-31 | 1,237 | 483 | 121 | 12 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 1,127 | 402 | 118 |
| 2018-06-30 | 957 | 301 | 119 |
| 2018-03-31 | 837 | 263 | 119 |
| 2017-12-31 | 639 | 155 | 57 |
| 2017-09-30 | 646 | 212 | 33 |
| 2017-06-30 | 685 | 260 | 57 |
| 2017-03-31 | 685 | 280 | 25 |
| 2016-12-31 | 683 | 412 | 39 |
| 2016-09-30 | 641 | 378 | -87 |
| 2016-06-30 | 587 | 322 | -137 |
| 2016-03-31 | 559 | 288 | -148 |
| 2015-12-31 | 554 | 175 | -150 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
All data from B2Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | 0.27 | 0.27 | 0.27 | 1.00 |
| 2021-12-31 | 0.20 | 0.20 | 0.20 | 1.00 |
| 2020-12-31 | 0.29 | 0.37 | 0.22 | 2.00 |
| 2019-12-31 | 0.16 | 0.22 | 0.10 | 5.00 |
| 2018-12-31 | 0.12 | 0.15 | 0.10 | 7.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-09-30 | 0.12 |
| 2018-06-30 | 0.12 |
| 2018-03-31 | 0.12 |
| 2017-12-31 | 0.06 |
| 2017-09-30 | 0.03 |
| 2017-06-30 | 0.06 |
| 2017-03-31 | 0.03 |
| 2016-12-31 | 0.04 |
| 2016-09-30 | -0.09 |
| 2016-06-30 | -0.15 |
| 2016-03-31 | -0.16 |
| 2015-12-31 | -0.16 |
*GAAP earnings excluding extraordinary items.
X
B2Gold has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Future performance checks
We assess B2Gold's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
B2Gold has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has B2Gold performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Below we compare
B2Gold's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it
has maintained that growth in the year.
- B2Gold has delivered over 20% year on year earnings growth in the past 5 years.
- B2Gold's 1-year earnings growth exceeds its 5-year average (254.8% vs 36.5%)
- B2Gold's earnings growth has exceeded the US Metals and Mining industry average in the past year (254.8% vs 91.5%).
Earnings and Revenue History
B2Gold's
revenue
and
profit
over the past 5 years is shown below, any years where they have experienced a
loss will show up in red.
Raw Data
All data from B2Gold Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-09-30 | 1,126.94 | 117.77 | 74.82 | |
| 2018-06-30 | 957.19 | 118.61 | 65.40 | |
| 2018-03-31 | 836.71 | 118.83 | 68.77 | |
| 2017-12-31 | 638.68 | 56.85 | 61.74 | |
| 2017-09-30 | 645.88 | 33.19 | 57.82 | |
| 2017-06-30 | 684.82 | 56.67 | 57.49 | |
| 2017-03-31 | 685.30 | 25.32 | 50.68 | |
| 2016-12-31 | 683.29 | 39.13 | 54.57 | |
| 2016-09-30 | 641.11 | -87.03 | 45.80 | |
| 2016-06-30 | 587.31 | -137.04 | 45.55 | |
| 2016-03-31 | 559.02 | -147.89 | 49.28 | |
| 2015-12-31 | 553.66 | -149.95 | 51.61 | |
| 2015-09-30 | 537.07 | -385.63 | 53.67 | |
| 2015-06-30 | 512.74 | -644.64 | 52.13 | |
| 2015-03-31 | 496.50 | -635.01 | 58.57 | |
| 2014-12-31 | 486.62 | -665.27 | 54.08 | |
| 2014-09-30 | 502.26 | -283.43 | 54.07 | |
| 2014-06-30 | 516.06 | -1.38 | 55.07 | |
| 2014-03-31 | 518.44 | 43.24 | 51.22 | |
| 2013-12-31 | 544.27 | 67.30 | 50.20 | |
| 2013-09-30 | 477.00 | 52.03 | 44.99 | |
| 2013-06-30 | 415.34 | 58.56 | 40.64 | |
| 2013-03-31 | 350.03 | 37.42 | 35.72 | |
| 2012-12-31 | 259.05 | 51.91 | 34.25 | |
| 2012-09-30 | 255.16 | 61.80 | 31.81 | |
| 2012-06-30 | 238.56 | 56.36 | 32.22 | |
| 2012-03-31 | 235.72 | 59.44 | 24.87 | |
| 2011-12-31 | 225.35 | 56.30 | 22.83 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- B2Gold has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- B2Gold used its assets less efficiently than the US Metals and Mining industry average last year based on Return on Assets.
- B2Gold has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
B2Gold has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Past performance checks
We assess B2Gold's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
B2Gold has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is B2Gold's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up B2Gold's finances.
The net worth of a company is the difference between its assets and liabilities.
- B2Gold is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- B2Gold's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of
B2Gold's finances. If any of them are yellow this
indicates they may be out of proportion and red means they relate to one of the
checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data
All data from B2Gold Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 1,689.48 | 746.93 | 354.84 |
| 2018-06-30 | 1,656.02 | 577.84 | 106.95 |
| 2018-03-31 | 1,629.92 | 642.53 | 167.92 |
| 2017-12-31 | 1,566.39 | 702.18 | 147.47 |
| 2017-09-30 | 1,522.48 | 661.71 | 89.71 |
| 2017-06-30 | 1,503.30 | 582.36 | 88.19 |
| 2017-03-31 | 1,473.17 | 526.89 | 103.23 |
| 2016-12-31 | 1,454.56 | 486.78 | 144.67 |
| 2016-09-30 | 1,422.50 | 448.70 | 123.76 |
| 2016-06-30 | 1,326.00 | 462.26 | 99.80 |
| 2016-03-31 | 1,329.29 | 419.83 | 109.07 |
| 2015-12-31 | 1,312.54 | 463.19 | 85.14 |
| 2015-09-30 | 1,423.93 | 419.21 | 86.79 |
| 2015-06-30 | 1,442.11 | 408.00 | 109.72 |
| 2015-03-31 | 1,458.71 | 383.81 | 128.18 |
| 2014-12-31 | 1,525.34 | 379.29 | 132.56 |
| 2014-09-30 | 1,888.05 | 398.40 | 179.05 |
| 2014-06-30 | 1,651.98 | 383.55 | 134.81 |
| 2014-03-31 | 1,656.66 | 362.15 | 183.54 |
| 2013-12-31 | 1,671.37 | 313.41 | 252.74 |
| 2013-09-30 | 1,603.75 | 319.12 | 283.75 |
| 2013-06-30 | 1,585.80 | 70.91 | 95.66 |
| 2013-03-31 | 1,545.51 | 65.78 | 120.68 |
| 2012-12-31 | 566.32 | 0.00 | 67.95 |
| 2012-09-30 | 552.00 | 0.07 | 73.16 |
| 2012-06-30 | 518.80 | 0.07 | 77.34 |
| 2012-03-31 | 502.95 | 0.08 | 97.75 |
| 2011-12-31 | 475.33 | 0.00 | 102.29 |
- B2Gold's level of debt (44.2%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (19.9% vs 44.2% today).
- Debt is well covered by operating cash flow (53.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 8.4x coverage).
X
Full details on the Health part of the Simply Wall St company analysis model.
Financial health checks
We assess B2Gold's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) B2Gold has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is B2Gold's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
0%
Current annual income from
B2Gold
dividends.
Estimated to be
0%
next year.
If you bought
$2,000 of
B2Gold
shares you are expected to receive
$0
in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you
can get in a
savings account?
It is up there with the
best dividend paying companies?
- Unable to evaluate B2Gold's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate B2Gold's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
Raw Data
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| United States of America Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 30 Stocks | 2.7% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1982 Stocks | 2.6% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-12-31 | ||
| 2021-12-31 | ||
| 2020-12-31 | 0.00 | 1.00 |
| 2019-12-31 | 0.00 | 2.00 |
| 2018-12-31 | 0.00 | 4.00 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as B2Gold has not reported any payouts.
- Unable to verify if B2Gold's dividend has been increasing as the company has not reported any payouts.
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Full details on the Dividends part of the Simply Wall St company analysis model.
Income/ dividend checks
We assess B2Gold's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can B2Gold afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) B2Gold has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
CEO
Clive
Johnson
| COMPENSATION | $5,505,100 |
| AGE | 60 |
| TENURE AS CEO | 11.8 years |
CEO Bio
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 of EastWest Gold Corporation since July 1993 and June 1989 respectively and serves as its Chief Operating Officer. He served as the Chairman of EastWest Gold Corporation. He has been the Chairman of Vanadian Energy Corporation (formerly, Uracan Resources Ltd) since November 2013. He served as a Director of CGA Mining Limited until January 31, 2013. He has been a Director of B2Gold Corp. since December 17, 2006. He has been a Director of Uracan Resources, Ltd. since January 9, 2007. He has been a Director of EastWest Gold Corporation since December 5, 1988. He served as a Director of Victoria Gold Corp. since April 30, 1987. He served as a Director of Consolidated Westview Resource Corp. since April 30, 1987. He served as a Director of Consolidated Puma Minerals Corp. since March 3, 1988. He served as a Director of Arizona Star Resource Corp. from April 10, 1987 to December 2004.
CEO Compensation
- Clive's compensation has been consistent with company performance over the past year.
- Clive's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the B2Gold management team in years:
11.8
Average Tenure
59.5
Average Age
- The average tenure for the B2Gold management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Clive Johnson
TITLE
President
COMPENSATION
$6M
AGE
60
TENURE
11.8 yrs
Mike Cinnamond
TITLE
Senior VP of Finance & CFO
COMPENSATION
$2M
AGE
51
TENURE
4.7 yrs
Bill Lytle
TITLE
Senior Vice President of Operations
COMPENSATION
$2M
TENURE
8 yrs
Roger Richer
TITLE
Executive VP
COMPENSATION
$2M
AGE
65
TENURE
11.8 yrs
Dennis Stansbury
TITLE
Senior Vice President of Engineering & Project Evaluations
COMPENSATION
$2M
AGE
65
TENURE
11.8 yrs
Tom Garagan
TITLE
Senior Vice President of Exploration
COMPENSATION
$2M
AGE
59
TENURE
11.8 yrs
Brian Scott
TITLE
Vice President of Geology & Technical Services
Ian MacLean
TITLE
Vice President of Investor Relations
Kevin Pemberton
TITLE
Chief Mine Planning Engineer
Tim Searcy
TITLE
Chief Executive Officer of Auryx
AGE
48
Board of Directors Tenure
Average tenure and age of the B2Gold board of directors in years:
9
Average Tenure
60
Average Age
- The tenure for the B2Gold board of directors is about average.
Board of Directors
Bob Cross
TITLE
Non-Executive Chairman
COMPENSATION
$408K
AGE
59
TENURE
11.2 yrs
Clive Johnson
TITLE
President
COMPENSATION
$6M
AGE
60
TENURE
12 yrs
Bob Gayton
TITLE
Director
COMPENSATION
$262K
AGE
78
TENURE
11.2 yrs
George Johnson
TITLE
Director
COMPENSATION
$252K
AGE
69
TENURE
2.8 yrs
Jerry Korpan
TITLE
Director
COMPENSATION
$252K
AGE
72
TENURE
11.1 yrs
Bongani Mtshisi
TITLE
Director
COMPENSATION
$242K
AGE
39
TENURE
7 yrs
Kevin Bullock
TITLE
Director
COMPENSATION
$232K
AGE
53
TENURE
5 yrs
Robin Weisman
TITLE
Director
COMPENSATION
$137K
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
- B2Gold insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 22. Nov 18 | Sell | Kevin Bullock | Individual | 22. Nov 18 | 22. Nov 18 | -10,000 | $2.75 | $-27,543 | ||
| 14. Sep 18 | Buy | Kevin Bullock | Individual | 14. Sep 18 | 14. Sep 18 | 2,500 | $2.22 | $5,546 | ||
| 11. Sep 18 | Buy | Kevin Bullock | Individual | 11. Sep 18 | 11. Sep 18 | 2,000 | $2.18 | $4,369 | ||
| 16. Aug 18 | Buy | Bongani Mtshisi | Individual | 15. Aug 18 | 15. Aug 18 | 34,000 | $2.13 | $72,288 | ||
| 16. Jul 18 | Sell | Clive Johnson | Individual | 13. Jul 18 | 13. Jul 18 | -150,000 | $2.48 | $-372,593 | ||
| 14. Jul 18 | Sell | Thomas Garagan | Individual | 12. Jul 18 | 12. Jul 18 | -60,000 | $2.48 | $-148,709 | ||
| 09. Jul 18 | Buy | Kevin Bullock | Individual | 09. Jul 18 | 09. Jul 18 | 1,200 | $2.51 | $3,013 | ||
| 06. Jul 18 | Sell | Eduard Bartz | Individual | 16. Mar 18 | 16. Mar 18 | -102,000 | $2.93 | $-298,362 | ||
| 04. Jul 18 | Sell | William Lytle | Individual | 03. Jul 18 | 03. Jul 18 | -125,937 | $2.58 | $-324,321 | ||
| 16. Mar 18 | Sell | Eduard Bartz | Individual | 16. Mar 18 | 16. Mar 18 | -269,683 | $2.93 | $-787,573 | ||
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Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
Management checks
We assess B2Gold's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) B2Gold has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
Company Info
Map
Description
B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, Finland, and Namibia. It primarily explores for gold and silver deposits. The company primarily holds 80% interest in Fekola mine, an open pit gold mine located in Mali; 90% interest in Otjikoto gold mine located north of Windhoek, Namibia; Masbate gold project located in the south-east of Manila, the Philippines; and 95% interest in El Limon mine, an underground gold mine located in northwestern Nicaragua. It also holds 100% interest in La Libertad mine located northeast of Juigalpa, Nicaragua; 81% interest in the Kiaka and Toega projects located in Burkina Faso; and 49% interest in the Gramalote property located in Colombia. The company was incorporated in 2006 and is headquartered in Vancouver, Canada.
Details
| Name: | B2Gold Corp. |
| BTG | |
| Exchange: | AMEX |
| Founded: | 2006 |
| CA$2,649,042,853 | |
| 990,357,250 | |
| Website: | http://www.b2gold.com |
| Address: |
B2Gold Corp. Three Bentall Centre, Suite 3100, Vancouver, British Columbia, V7X 1J1, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | BTO | Common Shares | The Toronto Stock Exchange | CA | CAD | 06. Dec 2007 | |
| AMEX | BTG | Common Shares | NYSE MKT LLC | US | USD | 06. Dec 2007 | |
| DB | 5BG | Common Shares | Deutsche Boerse AG | DE | EUR | 06. Dec 2007 | |
| LSE | 0QYN | Common Shares | London Stock Exchange | GB | CAD | 06. Dec 2007 | |
| NMSE | B2G | Common Shares | Namibian Stock Exchange | NA | ZAR | 06. Dec 2007 |
Number of employees
Current staff
3,109
B2Gold
employees.
Industry
| Gold | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2018/12/15 02:12 |
| End of day share price update: | 2018/12/14 00:00 |
| Last estimates confirmation: | 2018/12/11 |
| Last earnings filing: | 2018/11/06 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2017/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
