Cormark Downgrades B2Gold Corp. (BTG) to Market Perform from Buy

B2Gold Corp. (NYSE:BTG) is one of the best cheap stocks under $10 to buy now. B2Gold Corp. (NYSE:BTG) was downgraded to Market Perform from Buy by Cormark on November 7, with a C$6.50 price target.

The rating update came after B2Gold Corp. (NYSE:BTG) announced its fiscal Q3 2025 results on November 5, reporting total gold production of 254,369 ounces, including pre-commercial production from the Goose Mine. Management reported that the Fekola, Masbate, and Otjikoto mines all surpassed the expected production in the quarter, and the company believes that it is on track for fiscal Q4 2025 to be the strongest gold production quarter in 2025.

B2Gold Corp. (NYSE:BTG) is keeping the consolidated production guidance unchanged for the Fekola Complex, Masbate, and Otjikoto mines, anticipated to be between 890,000 and 965,000 ounces of gold. However, the company modified the 2025 gold production guidance for the Goose Mine to between 50,000 to 80,000 ounces from the previous guidance range of 80,000 to 110,000 ounces. This is primarily due to crushing plant issues and lower than budgeted gold grades brought about by temporary delays in the access of higher-grade ore from Umwelt underground in Q3 and early Q4 2025.

B2Gold Corp. (NYSE:BTG) is an exploration company that acquires and develops mineral properties. Its operations are divided into the following segments: Fekola Mine, Fekola Regional, Masbate Mine, Otjikoto Mine, Goose Project, Other Mineral Properties, and Corporate and Other.

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Disclosure: None. This article is originally published at Insider Monkey.