Image source: © Anchesdd | Megapixl.com

Highlights

  • B2Gold Corp (TSX: BTO) is currently operating at three open-pit gold mines in Mali, Namibia, and the Philippines.
  • In Q2 2023, gold production of the company was recorded at 262,701 ounces, as compared to 223,623 ounces in Q2 2022.
  • The firm has announced to pay a cash dividend of USD 0.04 per common share for the third quarter of the year.

An international, low-cost, senior gold mining company, B2Gold Corp (TSX: BTO) is currently operating at three open-pit gold mines in Mali, Namibia, and the Philippines. It is also engaged in several exploration projects across four continents.

In Q2 2023, gold production of the company was recorded at 262,701 ounces, as compared to 223,623 ounces in Q2 2022.

The company secured a consolidated gold revenue of USD 470.8 million on sales of 239,100 ounces at an average price of USD 1,969 per ounce in the reporting period. This marked a significant increase from USD 381.9 million on sales of 205,300 ounces at an average price of USD 1,861 per ounce in pcp.

BTO had a cash flow of USD 194.9 million from operating activities in Q2 2023, versus USD 124.8 million in the Q2 2022. This was primarily because of increase in revenue and decrease in working capital outflows.

The firm has announced to pay a cash dividend of USD 0.04 per common share for the third quarter of the year. As on October 11, 2023, BTO shares offered a healthy dividend yield of 5.19% at the last closing price of CAD 4.25.

In Q2 2023, the company clocked USD 190.3 million gross profit, higher than USD 117.9 million gross profit in Q2 2022. For the reporting period, there was 50.75% surge in the earnings before income taxes following an increase in its operating income and gross profit. Overall, B2Gold Corp secured net earnings of USD 91.8 million in Q2 2023 against USD 40.6 million in Q2 2022.

For the full year 2023, the company is expecting the total gold production to range from 1,000,000 to 1,080,000 ounces. Its All-In Sustaining Costs (USD/oz) is likely to be between USD 1,195 and USD 1,255 for the period.

Top 10 shareholders
Around 38.86% of the total shareholding of B2Gold Corp is held by its top ten shareholders. While Van Eck Associates Corporation is the highest stakeholder in the company with nearly ­­­11.03% shareholding, Fidelity Management & Research Company LLC holds approximately 7.98% shares.

Stock price Performance

BTO’s stock price has gained over 9.5% in the past one week. It has increased by approximately 0.71% over the last one month. The stock’s 52-week high and low price stand at CAD 3.81 and CAD 5.87, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is October 11, 2023. The reference data in this report has been partly sourced from EODHD/Others.