B2Gold stock
BTGAMEXB2Gold Corp., Basic MaterialsISIN CA11777Q2099
72Score 72 out of 100, Strong
Price and trend
71 / 100
Price history
+19% in one yearThe chart shows daily closes over 18 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Above the 200-day line: the price is 2.6% above it.
Since September 2026 the 50-day line has been above the 200-day line; the trend has turned up.
Normal: the price is neither overheated nor sold off (RSI 53).
The price is 20% below its 52-week high. Largest decline in 18 years: 86% (April 2012 to January 2016).
Chart figures for advanced users
- SMA 50$5.21
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$4.83
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)53
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDabove the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$3.65
- The lowest closing price of the last twelve months.
- Resistance$6.21
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- B2Gold Corp. belongs to the Gold industry (Canada) and, with a market value of $6.55B, is number 27 of 53 companies in its industry on MEQIRI.
- For fiscal 2026, analysts expect on average revenue of $3.84B (up 25.5%) and adjusted earnings per share of $0.56 (up 22.8%).
- MEQIRI Score 72 out of 100 (Strong): rank 61 of 467 in Basic Materials, median 58.
Show more
- Our model puts fair value at $17.46, with the price 70% below it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
- Below fair valuePrice 70% below the fair value of $17.46.Valuation 100
- Analysts expect strong earnings growthUp 35.5% a year through 2028 (estimates from 9 analysts).Growth 58
- High return on capitalReturn on invested capital 20.1% in fiscal 2025, Gold median 12.3%.Profitability 87
Weaknesses
- DilutionShare count up 27% since 2020.Capital allocation 51
- Volatile share priceVolatility 61% a year over the last 12 months.
- Earnings per share fallingDown 12.4% a year since 2020.Growth 58
Its standout strengths are valuation and profitability.
Daily figure as of 12 Nov 2026
How the score is calculatedScore overview
Score since yesterday from 73 to 72.
Fundamentals are strong, with stable profits.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk high
How well MEQIRI warnsOne of the 30% with the highest crash risk among smaller stocks.
From 2016 to 2025, 36 in 100 such stocks fell 30% or more within a year, against a group average of 23 in 100.
What drives the risk
- high price swings
- cyclical sector (energy or materials), as a group, crashed more often in the backtest
Valuation
Valuation signal
Significantly undervaluedClosing price of 11 Nov 2026, used by the daily score.
In our model the price counts as cheap below $11.64 and expensive above $34.92 (uncertainty very high, based on the price swings of the past year).
Calculated with a cost of equity of 8.8%. At 9.8% the fair value would be $14.39, at 7.8% it would be $22.07.
Valuation metrics
From the cash-flow model alone; the profit includes one-off items, so there is no industry value.
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue rose 51.7% on the twelve months before. Revenue has grown strongly since 2010, at around 24% per year. From 2010 revenue is reported differently (for example gross instead of net), so earlier years are not comparable and not shown.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 50%, operating 46%, net 13%. Last 12 months: net 31%. From 2010 revenue is reported differently (for example gross instead of net), so earlier years are not comparable and not shown.
Debt & balance sheet
latest quarterThe balance sheet is solid, with low debt and comfortable interest coverage.
Earnings
- Next earnings
- 17 Feb 2027in 97 days
- Last reported
- 4 Nov 2026EPS reported $0.14 (expected $0.09)above expectations
Analyst estimates
Analysts have cut their 2027 earnings estimate by 12.4% since 15 Oct 2026. Falling estimates often precede bad news.
- Earnings per share
- $0.56−3.7%
- Revenue
- $3.84B+0.6%
- Earnings per share
- $0.91−12.4%
- Revenue
- $4.58B−0.8%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook mixed
Share price after the results: +23.7%Ranges narrowed: 2026 gold production of 820,000 to 920,000 ounces, with increases at Masbate and Otjikoto partly offset by other changes; all-in sustaining cost guidance lowered to $2,370 to $2,550 per ounce.
“We now expect consolidated gold production of between 820,000 and 920,000 ounces in 2026.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 7 Aug 2026 (fiscal Q2 2026), read by AI.
Insiders
Open-market purchases and sales by executives, board members and major holders
No open-market purchases or sales in the last 6 months.
Source: Form 4 filings with the US Securities and Exchange Commission. Grants, option exercises, gifts and tax withholdings are hidden. Not a recommendation to buy.
What happened at B2Gold
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
467 rated companies in Basic Materials
- This company
- 72
- Sector median
- 58
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Gold
The next larger and next smaller companies by market value
- G Mining VenturesGMIN.TO $9.36B62
- Eldorado GoldEGO $8.74B59
- DPM MetalsDPM.TO $8.13B81
- Wanguo Gold Group3939.HK $7.66B82
- Aura MineralsAUGO $6.82B71
- OR RoyaltiesOR $6.67B64
- Zhaojin Mining Industry1818.HK $6.56B63
- OceanaGoldOGC $6.18B74
ETFs that hold B2Gold
Held by 15 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| UBS Solactive Global Pure Gold Miners UCITS ETF USD disUBUD | 4.14% | 0.43% | €479.28M |
| L&G Gold Mining UCITS ETFETLX | 3.61% | 0.55% | €762.65M |
| VanEck Junior Gold Miners UCITS ETFG2XJ | 1.94% | 0.55% | €1.08B |
Show 5 more
| Amundi Gold Miners UCITS ETF USD DistributingCD91 | 1.38% | 0.65% | €770.49M |
| iShares Gold Producers UCITS ETF USD (Acc)IS0E | 0.80% | 0.55% | €3.87B |
| VanEck S&P Global Mining UCITS ETF A USDWMIN | 0.35% | 0.50% | €1.98B |
| Avantis Global Small Cap Value UCITS ETFAVWS | 0.22% | 0.39% | €1.47B |
| iShares MSCI World Small Cap CTB Enhanced ESG UCITS ETFCBUG | 0.09% | 0.35% | €434.1M |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 6 Nov 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.