BTG - B2Gold Corp.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$6.25
DETAILS
HIGH:
$6.50
LOW:
$6.00
MEDIAN:
$6.25
CONSENSUS:
$6.25
UPSIDE:
36.46%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||
| Revenue | 3,061.2 | 1,902.0 | 1,934.3 | 1,732.6 | 1,762.3 | 1,788.9 | 1,155.6 | 1,225.1 | 638.7 | 683.3 | 553.7 | 486.6 | 544.3 | 259.1 | 225.4 | 127.5 | 20.6 | 0 | 0 |
| Cost of Revenue | 1,530.5 | 1,195.8 | 1,154.3 | 1,128.3 | 993.7 | 830.6 | 705.2 | 860.4 | 488.4 | 473.2 | 466.6 | 392.8 | 397.3 | 132.0 | 88.2 | 62.8 | 18.2 | 2.3 | 1.8 |
| Gross Profit | 1,530.8 | 706.2 | 780.0 | 604.2 | 768.6 | 958.3 | 450.5 | 364.7 | 150.3 | 210.1 | 87.0 | 93.9 | 146.9 | 127.0 | 137.2 | 64.8 | 2.4 | (2.3) | (1.8) |
| Operating Expenses | |||||||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 92.0 | 84.2 | 83.3 | 79.3 | 72.8 | 69.2 | 74.9 | 73.8 | 67.3 | 59.6 | 56.3 | 61.6 | 58.3 | 41.1 | 22.8 | 16.5 | 11.3 | 10.6 | 4.2 |
| Other Expenses | 34.2 | 27.2 | 22.1 | 22.5 | (17.8) | (163.9) | (132.5) | 20.8 | (3.6) | 24.2 | 125.5 | 773.6 | (27.5) | 11.9 | 27.4 | 25.8 | 3.0 | 0.1 | (1.4) |
| Operating Expenses | 126.2 | 111.4 | 105.4 | 101.8 | 55.0 | (94.6) | (57.5) | 94.6 | 63.6 | 83.8 | 181.8 | 835.2 | 30.7 | 46.2 | 50.3 | 42.3 | 14.3 | 10.7 | 2.9 |
| Operating Income | |||||||||||||||||||
| Operating Income | 1,404.6 | 594.8 | 674.6 | 502.4 | 713.6 | 1,052.9 | 508.0 | 286.1 | 86.7 | 126.3 | (94.8) | (741.3) | 116.2 | 84.1 | 85.7 | 22.5 | (11.9) | (9.2) | (4.7) |
| Interest Expense | 37.7 | 34.8 | 13.9 | 10.8 | 11.8 | 15.8 | 26.6 | 30.6 | 12.9 | 10.2 | 16.1 | 5.7 | 5.6 | 0.2 | 0.6 | 4.7 | 0.8 | 0.2 | 0.4 |
| Interest Income | 12.4 | 20.7 | 18.5 | 12.0 | 3.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.3 | 2.2 | 0.6 |
| Profitability | |||||||||||||||||||
| EBITDA | 1,455.3 | 93.0 | 736.6 | 925.3 | 1,116.9 | 1,351.7 | 760.2 | 518.1 | 251.0 | 248.0 | 10.5 | (633.2) | 178.6 | 110.5 | 107.3 | 49.4 | (25.6) | (25.9) | (4.6) |
| EBIT | 1,014.5 | (274.4) | 334.3 | 541.5 | 738.0 | 1,050.2 | 508.9 | 282.4 | 81.8 | 77.8 | (127.3) | (745.8) | 92.7 | 77.5 | 78.8 | 34.7 | (27.8) | (26.0) | (4.7) |
| Income Before Tax | 976.8 | (309.2) | 320.3 | 530.6 | 726.2 | 1,034.4 | 482.4 | 267.1 | 68.9 | 68.5 | (143.4) | (751.5) | 87.1 | 77.3 | 80.5 | 28.8 | (28.6) | (26.2) | (5.1) |
| Income Tax Expense | 550.1 | 317.4 | 278.7 | 243.9 | 265.4 | 362.0 | 173.5 | 132.4 | 7.3 | 29.9 | 1.7 | (85.1) | 19.8 | 25.4 | 24.2 | 9.1 | (0.8) | (0.3) | (0.5) |
| Net Income | 401.9 | (629.9) | 10.1 | 252.9 | 420.1 | 628.1 | 293.4 | 28.9 | 56.9 | 39.1 | (149.9) | (665.3) | 67.3 | 51.9 | 56.3 | 20.0 | (27.8) | (30.0) | (4.2) |
| Per Share Data | |||||||||||||||||||
| EPS (Basic) | 0.31 | -0.48 | 0.01 | 0.24 | 0.40 | 0.60 | 0.29 | 0.03 | 0.06 | 0.04 | -0.16 | -0.90 | 0.10 | 0.14 | 0.17 | 0.07 | -0.12 | -0.18 | -0.14 |
| EPS (Diluted) | 0.28 | -0.48 | 0.01 | 0.24 | 0.40 | 0.59 | 0.29 | 0.10 | 0.06 | 0.04 | -0.16 | -0.90 | 0.07 | 0.13 | 0.16 | 0.06 | -0.12 | -0.18 | -0.14 |
| Shares Outstanding | 1,325.3 | 1,308.8 | 1,232.1 | 1,064.3 | 1,053.8 | 1,043.4 | 1,014.1 | 1,047.4 | 976.4 | 941.7 | 922.1 | 739.2 | 636.1 | 384.7 | 338.5 | 307.1 | 237.1 | 145.8 | 32.4 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||||
| Cash & Cash Equivalents | 379.7 | 336.8 | 305.3 | 651.7 | 672.1 | 479.7 | 140.6 | 102.8 | 147.5 | 144.7 | 2.9 | 13.2 |
| Short-Term Investments | 4.9 | 11.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.4 | 33.0 |
| Net Receivables | 90.3 | 66.5 | 48.5 | 43.3 | 42.3 | 28.2 | 46.7 | 26.3 | 41.9 | 27.7 | 9.8 | 0.5 |
| Inventory | 626.1 | 477.3 | 344.7 | 331.9 | 272.0 | 238.1 | 217.9 | 234.0 | 206.4 | 104.7 | 10.3 | 0 |
| Other Current Assets | 0 | 0 | 0 | 3.8 | 54.2 | 11.9 | 22.0 | (2.0) | 0 | 0 | 0 | 0 |
| Total Current Assets | 1,127.6 | 901.3 | 707.1 | 1,034.7 | 1,044.7 | 762.7 | 429.5 | 363.0 | 395.9 | 277.1 | 23.4 | 46.9 |
| Non-Current Assets | ||||||||||||
| Property, Plant & Equipment | 3,753.5 | 3,289.5 | 3,545.3 | 2,273.7 | 2,228.8 | 2,387.0 | 2,046.7 | 2,035.1 | 2,124.1 | 1,950.4 | 170.3 | 55.9 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41.9 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26.3 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 458.3 | 227.4 | 274.9 | 184.0 | 164.9 | 104.7 | 144.2 | 76.2 | 75.6 | 63.8 | 51.9 | 0 |
| Other Non-Current Assets | 452.9 | 393.0 | 305.6 | 187.1 | 116.6 | 83.4 | 61.3 | 35.3 | 39.8 | 45.0 | 1.8 | 49.4 |
| Total Non-Current Assets | 4,741.0 | 3,909.9 | 4,142.6 | 2,644.9 | 2,511.8 | 2,599.7 | 2,253.6 | 2,184.8 | 2,289.3 | 2,059.1 | 224 | 105.3 |
| Total Assets | 5,868.6 | 4,811.1 | 4,849.7 | 3,679.6 | 3,556.5 | 3,362.4 | 2,683.1 | 2,547.8 | 2,685.2 | 2,336.1 | 247.4 | 152.2 |
| Current Liabilities | ||||||||||||
| Account Payables | 174.5 | 156.3 | 166.3 | 114.7 | 111.6 | 89.1 | 83.4 | 80.3 | 95.1 | 64.9 | 10.1 | 2.9 |
| Short-Term Debt | 33.8 | 16.4 | 16.2 | 15.5 | 25.4 | 34.1 | 26.0 | 25.0 | 302.6 | 13.9 | 1.1 | 2.6 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30 | 60 | 57.5 | 0 | 0 |
| Other Current Liabilities | 584.4 | 304.2 | 9.4 | 7.7 | 1.8 | 8.2 | 2.3 | 5.0 | 10.4 | 9.8 | 0.7 | (0.0) |
| Total Current Liabilities | 1,059.3 | 580.3 | 311.9 | 233.5 | 230.9 | 286.1 | 165.1 | 207.2 | 494.5 | 176.0 | 11.8 | 5.6 |
| Non-Current Liabilities | ||||||||||||
| Long-Term Debt | 545.0 | 391.5 | 141.9 | 0 | 0 | 0 | 192.3 | 454.5 | 399.6 | 472.8 | 8.6 | 0 |
| Deferred Tax Liabilities | 151.1 | 169.6 | 187.1 | 182.4 | 187.6 | 220.9 | 145.6 | 103.4 | 81.5 | 74.1 | 11.6 | 11.9 |
| Other Non-Current Liabilities | 427.8 | 606.1 | 285.7 | 111.6 | 131.3 | 118.9 | 84.9 | 129.8 | 113.2 | 158.6 | 15.7 | 0 |
| Total Non-Current Liabilities | 1,174.4 | 1,196.9 | 647.8 | 335.7 | 368.6 | 415.7 | 466.4 | 687.7 | 624.2 | 705.5 | 35.9 | 11.9 |
| Total Liabilities | 2,233.7 | 1,777.2 | 959.7 | 569.2 | 599.5 | 701.8 | 631.4 | 895.0 | 1,118.8 | 881.6 | 47.7 | 17.5 |
| Stockholders' Equity | ||||||||||||
| Common Stock | 3,600.4 | 3,508.2 | 3,437.1 | 2,486.5 | 2,418.9 | 2,407.7 | 2,339.9 | 2,234.1 | 2,197.3 | 2,152.0 | 233.8 | 0 |
| Retained Earnings | (220.2) | (515.3) | 393.8 | 587.9 | 506.7 | 254.3 | (261.2) | (547.8) | (610.9) | (667.8) | (62.0) | (34.2) |
| Accumulated Other Comprehensive Income | 55.9 | (102.7) | (124.6) | (145.8) | (136.1) | (138.5) | (145.1) | (146.2) | (94.3) | (95.4) | (2.3) | 11.3 |
| Total Stockholders' Equity | 3,587.0 | 2,981.3 | 3,790.9 | 3,006.8 | 2,856.4 | 2,572.0 | 1,990.2 | 1,610.9 | 1,552.1 | 1,445.0 | 199.7 | 134.7 |
| Total Liabilities & Equity | 5,868.6 | 4,811.1 | 4,849.7 | 3,679.6 | 3,556.5 | 3,362.4 | 2,683.1 | 2,547.8 | 2,685.2 | 2,336.1 | 247.4 | 152.2 |
| Debt Metrics | ||||||||||||
| Total Debt | 629.3 | 437.6 | 191.1 | 57.2 | 75.0 | 110.0 | 261.9 | 479.5 | 702.2 | 486.8 | 9.7 | 2.7 |
| Net Debt | 249.6 | 100.9 | (114.2) | (594.4) | (597.1) | (369.7) | 121.3 | 376.8 | 554.7 | 342.1 | 6.8 | (10.6) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 408.9 | (626.7) | 41.6 | 242.9 | 416.4 | 661.2 | 293.1 | 45.1 | 61.6 | 38.6 |
| Depreciation & Amortization | 448.5 | 0 | 402.4 | 368.6 | 375.6 | 317.4 | 257.1 | (61.7) | (0.1) | 172.3 |
| Stock-Based Compensation | 0 | 24.7 | 18.2 | 0 | 0 | 0 | 0 | 21.7 | 18.1 | 13.7 |
| Change in Working Capital | (45.4) | (282.8) | (127.4) | (111.5) | (105.0) | 84.9 | (48.1) | 10.5 | (46.1) | 126.4 |
| Other Non-Cash Items | 227.7 | 1,755.0 | 388.9 | 71.7 | 29.9 | (130.6) | (82.0) | 395.2 | 139.5 | 53.2 |
| Operating Cash Flow | 892.7 | 877.6 | 714.5 | 567.9 | 711.6 | 987.8 | 480.5 | 450.9 | 155 | 411.8 |
| Investing Activities | ||||||||||
| Capital Expenditure | (826.4) | (901.3) | (76.4) | (267.4) | (244.0) | (320.5) | (267.2) | (271.6) | (372.4) | (350.9) |
| Acquisitions | 0 | 7.1 | 31.4 | (3.2) | 31.4 | 25.8 | 52.7 | (2.5) | (1.5) | (6) |
| Purchases of Investments | (88.1) | (45.5) | (33.3) | (11.3) | (13.8) | (12.2) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 55.9 | 98.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 1.8 | 51.4 | (823.1) | (30.4) | (1.7) | 1.8 | (54.4) | 0.6 | (4.6) | 2.1 |
| Investing Cash Flow | (908.4) | (763.3) | (845.3) | (373.4) | (283.8) | (355.8) | (268.9) | (273.5) | (346.8) | (391.8) |
| Financing Activities | ||||||||||
| Net Debt Issuance | 202.7 | 240.2 | 135.8 | (21.3) | (31.9) | (196.9) | (234.7) | (193.9) | 196.8 | (24.1) |
| Stock Repurchased | (10.0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | (105.3) | (184.6) | (190.1) | (163.9) | (166.9) | (121.4) | (10.5) | 0 | 0 | 0 |
| Other Financing Activities | (90.4) | (134.7) | (150.2) | (27.1) | (33.6) | (10.8) | (3.0) | (48.3) | (31.2) | 20.1 |
| Financing Cash Flow | 78.4 | (69.1) | (191.4) | (198.6) | (226.0) | (280.5) | (173.6) | (220.5) | 193.0 | 40.5 |
| Cash Position | ||||||||||
| Net Change in Cash | 43.0 | 30.1 | (345.1) | (20.4) | 192.4 | 339.1 | 37.8 | (44.7) | 2.8 | 59.5 |
| Cash at Beginning | 336.8 | 306.9 | 651.9 | 672.1 | 479.7 | 140.6 | 102.8 | 147.5 | 144.7 | 85.1 |
| Cash at End | 379.7 | 337.0 | 306.9 | 651.7 | 672.1 | 479.7 | 140.6 | 102.8 | 147.5 | 144.7 |
| Free Cash Flow | 66.4 | (23.7) | 638.1 | 300.5 | 467.5 | 667.3 | 213.3 | 179.3 | (217.4) | 60.9 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||||||
| Revenue | 3,061.2 | 1,902.0 | 1,934.3 | 1,732.6 | 1,762.3 | 1,788.9 | 1,155.6 | 1,225.1 | 638.7 | 683.3 | 553.7 | 486.6 | 544.3 | 259.1 | 225.4 | 127.5 | 20.6 | 0 | 0 |
| Gross Profit | 1,530.8 | 706.2 | 780.0 | 604.2 | 768.6 | 958.3 | 450.5 | 364.7 | 150.3 | 210.1 | 87.0 | 93.9 | 146.9 | 127.0 | 137.2 | 64.8 | 2.4 | (2.3) | (1.8) |
| Operating Income | 1,404.6 | 594.8 | 674.6 | 502.4 | 713.6 | 1,052.9 | 508.0 | 286.1 | 86.7 | 126.3 | (94.8) | (741.3) | 116.2 | 84.1 | 85.7 | 22.5 | (11.9) | (9.2) | (4.7) |
| Net Income | 401.9 | (629.9) | 10.1 | 252.9 | 420.1 | 628.1 | 293.4 | 28.9 | 56.9 | 39.1 | (149.9) | (665.3) | 67.3 | 51.9 | 56.3 | 20.0 | (27.8) | (30.0) | (4.2) |
| EPS (Diluted) | 0.28 | -0.48 | 0.01 | 0.24 | 0.40 | 0.59 | 0.29 | 0.10 | 0.06 | 0.04 | -0.16 | -0.90 | 0.07 | 0.13 | 0.16 | 0.06 | -0.12 | -0.18 | -0.14 |
| Balance Sheet | |||||||||||||||||||
| Cash & Equivalents | 379.7 | 336.8 | 305.3 | 651.7 | 672.1 | 479.7 | 140.6 | 102.8 | 147.5 | 144.7 | 2.9 | 13.2 | |||||||
| Total Assets | 5,868.6 | 4,811.1 | 4,849.7 | 3,679.6 | 3,556.5 | 3,362.4 | 2,683.1 | 2,547.8 | 2,685.2 | 2,336.1 | 247.4 | 152.2 | |||||||
| Total Debt | 629.3 | 437.6 | 191.1 | 57.2 | 75.0 | 110.0 | 261.9 | 479.5 | 702.2 | 486.8 | 9.7 | 2.7 | |||||||
| Stockholders' Equity | 3,587.0 | 2,981.3 | 3,790.9 | 3,006.8 | 2,856.4 | 2,572.0 | 1,990.2 | 1,610.9 | 1,552.1 | 1,445.0 | 199.7 | 134.7 | |||||||
| Cash Flow | |||||||||||||||||||
| Operating Cash Flow | 892.7 | 877.6 | 714.5 | 567.9 | 711.6 | 987.8 | 480.5 | 450.9 | 155 | 411.8 | |||||||||
| Capital Expenditure | (826.4) | (901.3) | (76.4) | (267.4) | (244.0) | (320.5) | (267.2) | (271.6) | (372.4) | (350.9) | |||||||||
| Free Cash Flow | 66.4 | (23.7) | 638.1 | 300.5 | 467.5 | 667.3 | 213.3 | 179.3 | (217.4) | 60.9 | |||||||||