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B2Gold

AMEX:BTG
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BTG
AMEX
CA$4B
Market Cap
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Last updated 2019/05/16 02:22
Company description

B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties for gold deposits in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, and Namibia. The last earnings update was 9 days ago. More info.

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  • B2Gold has significant price volatility in the past 3 months.
BTG Share Price and Events
7 Day Returns
0%
AMEX:BTG
-3.6%
US Metals and Mining
-3.9%
US Market
1 Year Returns
-2.6%
AMEX:BTG
-27.7%
US Metals and Mining
1.4%
US Market
BTG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
B2Gold (BTG) 0% -0.8% -12.3% -2.6% 30.7% -4%
US Metals and Mining -3.6% -11.6% -6.2% -27.7% 4.8% -19.9%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • BTG outperformed the Metals and Mining industry which returned -27.7% over the past year.
  • BTG underperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
BTG
Industry
5yr Volatility vs Market

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.

AMEX:BTG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AMEX:BTG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 0.98
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.983 (1 + (1- 26.5%) (18.14%)) 		1.077
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.077 * 5.96%) 		9.15%

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 try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

AMEX:BTG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.15%)
2019 232.48 Analyst x5 213.00
2020 281.21 Analyst x8 236.05
2021 333.33 Analyst x6 256.35
2022 375.67 Est @ 12.7% 264.70
2023 412.14 Est @ 9.71% 266.06
2024 443.53 Est @ 7.62% 262.32
2025 470.81 Est @ 6.15% 255.12
2026 494.93 Est @ 5.12% 245.71
2027 516.74 Est @ 4.41% 235.04
2028 536.91 Est @ 3.9% 223.75
Present value of next 10 years cash flows $2,458.10
AMEX:BTG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $536.91 × (1 + 2.73%) ÷ (9.15% – 2.73%) 		$8,594.50
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,594.50 ÷ (1 + 9.15%)10 		$3,581.60
AMEX:BTG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,458.10 + $3,581.60 		$6,039.70
Equity Value per Share
(USD)		 = Total value / Shares Outstanding
= $6,039.70 / 1,007.92 		$8.06
AMEX:BTG Discount to Share Price
Calculation Result
Exchange Rate USD/CAD
(Reporting currency to currency of TSX:BTO) 		1.344
Value per Share
(CAD)		 = Value per Share in USD x Exchange Rate (USD/CAD)
= $5.99 x 1.344 		CA$8.05
Non-primary Listing Adjustment Factor 1 share in AMEX:BTG represents 0.74366x of TSX:BTO
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		0.74366x
Value per Share
(Listing Adjusted, USD)		 = Value per Share (CAD) x Listing Adjustment Factor
= CA$ 8.05 x 0.74366 		$5.99
Value per share (USD) From above. $5.99
Current discount Discount to share price of $2.64
= -1 x ($2.64 - $5.99) / $5.99 		55.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price B2Gold is available for.
Intrinsic value
>50%
Share price is $2.64 vs Future cash flow value of $5.99
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
AMEX:BTG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.01
TSX:BTO Share Price ** TSX (2019-05-15) in CAD CA$3.55
TSX:BTO Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.744 $2.64
United States of America Metals and Mining Industry PE Ratio Median Figure of 46 Publicly-Listed Metals and Mining Companies 9.38x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of B2Gold.

AMEX:BTG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:BTO Share Price ÷ EPS (both in USD)

= 2.64 ÷ -0.01

 -499.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • B2Gold is loss making, we can't compare its value to the US Metals and Mining industry average.
  • B2Gold is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does B2Gold's expected growth come at a high price?
Raw Data
AMEX:BTG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -499.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts		 27.3%per year
United States of America Metals and Mining Industry PEG Ratio Median Figure of 25 Publicly-Listed Metals and Mining Companies 0.62x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for B2Gold, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on B2Gold's assets?
Raw Data
AMEX:BTG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $1.65
TSX:BTO Share Price * TSX (2019-05-15) in CAD CA$3.55
TSX:BTO Share Price converted to USD reporting currency Exchange rate (CAD/ USD) 0.744 $2.64
United States of America Metals and Mining Industry PB Ratio Median Figure of 103 Publicly-Listed Metals and Mining Companies 1.51x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
AMEX:BTG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:BTO Share Price ÷ Book Value per Share (both in USD)

= 2.64 ÷ 1.65

 1.6x

* 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:
  1. 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. )
  2. 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)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
    5. 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 10 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!
Annual Growth Rate
27.3%
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 2.7%.
Growth vs Market Checks
  • B2Gold's earnings growth is expected to exceed the United States of America market average.
  • B2Gold's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
AMEX:BTG Future Growth Rates Data Sources
Data Point Source Value (per year)
AMEX:BTG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 27.3%
AMEX:BTG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 2.8%
United States of America Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 20.3%
United States of America Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
AMEX:BTG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AMEX:BTG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 445
2021-12-31 1,301 486 150 4
2020-12-31 1,308 492 173 10
2019-12-31 1,253 436 136 7
AMEX:BTG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,182 390 -5
2018-12-31 1,225 451 29
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • B2Gold's earnings are expected to grow significantly at over 20% yearly.
  • B2Gold's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).
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
AMEX:BTG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from B2Gold Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:BTG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.14 0.14 0.14 1.00
2020-12-31 0.20 0.22 0.17 3.00
2019-12-31 0.14 0.17 0.08 4.00
AMEX:BTG Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.01
2018-12-31 0.03
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

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • B2Gold is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Show me more growth companies in the Metals and Mining industry
X
Future performance checks
We assess B2Gold's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
B2Gold has a total score of 3/6, 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 does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare B2Gold's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare B2Gold's 1-year growth to the US Metals and Mining industry average as it is not currently profitable.
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 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:BTG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,182.44 -5.25 82.34
2018-12-31 1,225.06 28.94 77.83
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

*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.
  • It is difficult to establish if B2Gold improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess B2Gold's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
B2Gold has a total score of 0/6, 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.
Net Worth
  • 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 1 month ago.

AMEX:BTG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,705.32 483.12 141.58
2018-12-31 1,652.85 479.54 102.75
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
  • B2Gold's level of debt (28.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (21.9% vs 28.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making B2Gold has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making B2Gold has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by % per year.
Show me more healthy companies in the Metals and Mining industry
X
Financial health checks
We assess B2Gold's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. B2Gold has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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
Dividend payments
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
AMEX:BTG Annualized Past and Future Dividends
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 10 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 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
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.

AMEX:BTG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 2.00

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.
Current Payout to shareholders
What portion of B2Gold's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as B2Gold has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of B2Gold's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess B2Gold's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
    7. 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

 What is the CEO of B2Gold's salary, the management and board of directors tenure and is there insider trading?

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 12.2 years
CEO Bio

Mr. Clive Thomas Johnson has been the Chief Executive Officer & President of B2Gold Corp. since March 2007 and December 17, 2006 respectively. Mr. Johnson served as President & Chief Executive Officer of EastWest Gold Corporation since July 1993 and June 1989 respectively and also 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. Mr. Johnson served as the Non-Executive Chairman of BeMetals Corp. until May 11, 2018 (formerly Miza Enterprises Inc.) and has been its a Director since December 9, 2016. 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 increased whilst company is loss making.
  • 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:

12.2
Average Tenure
60
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
12.2 yrs

Mike Cinnamond

TITLE
Senior VP of Finance & CFO
COMPENSATION
$2M
AGE
51
TENURE
5.1 yrs

Bill Lytle

TITLE
Senior Vice President of Operations
COMPENSATION
$2M
TENURE
8.4 yrs

Roger Richer

TITLE
Executive VP
COMPENSATION
$2M
AGE
65
TENURE
12.2 yrs

Dennis Stansbury

TITLE
Senior VP of Engineering & Project Evaluations
COMPENSATION
$2M
AGE
65
TENURE
12.2 yrs

Tom Garagan

TITLE
Senior Vice President of Exploration
COMPENSATION
$2M
AGE
59
TENURE
12.2 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

Mark Dawe

TITLE
Managing Director and Country Manager of Namibia
Board of Directors Tenure

Average tenure and age of the B2Gold board of directors in years:

9.5
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
11.6 yrs

Clive Johnson

TITLE
President
COMPENSATION
$6M
AGE
60
TENURE
12.4 yrs

Bob Gayton

TITLE
Director
COMPENSATION
$262K
AGE
78
TENURE
11.6 yrs

George Johnson

TITLE
Director
COMPENSATION
$252K
AGE
69
TENURE
3.2 yrs

Jerry Korpan

TITLE
Director
COMPENSATION
$252K
AGE
72
TENURE
11.5 yrs

Bongani Mtshisi

TITLE
Director
COMPENSATION
$242K
AGE
39
TENURE
7.4 yrs

Kevin Bullock

TITLE
Director
COMPENSATION
$232K
AGE
53
TENURE
5.4 yrs

Robin Weisman

TITLE
Director
COMPENSATION
$137K
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • B2Gold insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
13. May 19 Sell Canaccord Genuity Wealth (International) Limited Company 05. Apr 19 05. Apr 19 -318,340 $2.73 $-868,001
13. May 19 Sell Kevin Bullock Individual 13. May 19 13. May 19 -12,000 $2.70 $-32,424
13. May 19 Buy Kevin Bullock Individual 13. May 19 13. May 19 4,000 $2.67 $10,689
12. Apr 19 Sell Clive Johnson Individual 10. Apr 19 10. Apr 19 -1,400,000 $2.81 $-3,939,548
11. Apr 19 Buy Kevin Bullock Individual 11. Apr 19 11. Apr 19 6,810 $2.73 $18,545
08. Apr 19 Sell Ian MacLean Individual 03. Apr 19 03. Apr 19 -100,000 $2.74 $-273,853
08. Apr 19 Sell Robert Cross Individual 03. Apr 19 03. Apr 19 -181,660 $2.74 $-497,482
08. Apr 19 Sell Thomas Garagan Individual 03. Apr 19 03. Apr 19 -600,000 $2.74 $-1,643,120
08. Apr 19 Sell Dennis Stansbury Individual 04. Apr 19 04. Apr 19 -700,000 $2.73 $-1,913,241
08. Apr 19 Sell Roger Richer Individual 04. Apr 19 04. Apr 19 -1,000,000 $2.73 $-2,733,202
29. Mar 19 Buy Kevin Bullock Individual 28. Mar 19 29. Mar 19 10,000 $2.81 $28,053
17. Jan 19 Sell Robert Cross Individual 09. Jan 19 09. Jan 19 -150,000 $2.91 $-436,152
01. Jan 19 Sell Eduard Bartz Individual 28. Dec 18 28. Dec 18 -8,162 $2.92 $-23,836
18. Dec 18 Buy Dale Craig Individual 18. Dec 18 18. Dec 18 2,000 $2.78 $5,568
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
04. Jul 18 Sell William Lytle Individual 03. Jul 18 03. Jul 18 -125,937 $2.58 $-324,321
X
Management checks
We assess B2Gold's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. 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.

News

Simply Wall St News

Company Info

Description

B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties for gold deposits in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, and Namibia. The company primarily holds 80% interest in the Fekola mine, an open pit gold mine located in Mali; 90% interest in the Otjikoto gold mine located north of Windhoek, Namibia; the Masbate gold project located in the south-east of Manila, the Philippines; and 100% interest in the El Limon mine, an underground gold mine located in northwestern Nicaragua. It also holds 100% interest in the La Libertad mine located in 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$2,662,576,619
1,007,916,504
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
Staff numbers
3,168
B2Gold employees.
Industry
Gold
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:22
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.

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