B2Gold Earnings Surpass Estimates in Q1, Revenues Increase Y/Y

B2Gold Corp BTG reported adjusted earnings per share (EPS) of 9 cents for first-quarter 2025, beating the Zacks Consensus Estimate of 8 cents. The bottom line improved 50% year over year.

Including one-time items, the company reported an EPS of 4 cents, up 33% year over year.

B2Gold generated revenues of $532 million in first-quarter 2025 compared with the prior-year quarter’s $461 million.

In the March-end quarter, B2Gold recorded a consolidated gold production of 192,752 ounces, down 10.1% year over year. However, the figure was higher than the company’s expectation. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

BTG’s Q1 Gross Margin Rises Y/Y

B2Gold reported consolidated cash operating costs of $832 per ounce in the quarter under review, up 15.9% year over year. The consolidated all-in sustaining costs of $1,533 per ounce were 13.9% higher than the prior-year quarter.

In the January-March quarter, the total cost of sales was $294 million, up 6.2% year over year. The gross profit rose 29.1% year over year to $238 million. The gross margin rose to 44.7% in the reported quarter from the prior-year quarter’s 39.9%. The operating income in the reported quarter was $209 million compared with the prior-year quarter’s $155 million.

B2Gold’s Q1 Cash Flow & Balance Sheet Update

BTG’s cash and cash equivalents were $330 million at the end of the first quarter of 2025 compared with $337 million at the end of 2024. It generated $179 million in cash from operating activities in the March-end quarter compared with $711 million in the year-ago quarter.

The company’s long-term debt was around $398 million at the end of the first quarter, marking a decline compared with $421 million at the end of 2024.

BTG’s 2025 Guidance

B2Gold remains on track to meet total gold production expectations of 970,000-1,075,000 ounces for 2025. The company’s production in 2024 was 804,778 ounces (including 19,644 attributable ounces from Calibre Mining Corp.).

The Goose Project is on track to pour first gold in the second quarter of 2025, reach commercial production in the third quarter and contribute 120,000-150,000 ounces of gold in 2025.

B2Gold Stock’s Price Performance

The company’s shares have gained 14.8% in the past year compared with the industry’s growth of 45.7%.

BTG’s Zacks Rank

B2Gold currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

B2Gold’s Peer Performances in Q4

Royal Gold, Inc. RGLD reported an adjusted EPS of $1.51 in the first quarter of 2025, beating the Zacks Consensus Estimate of $1.37. The bottom line increased 66% year over year.

Royal Gold generated revenues of $193 million, up 30% year over year.

Barrick Gold Corporation GOLD recorded net earnings (on a reported basis) of $474 million or 27 cents per share for first-quarter 2025. The figure improved from a profit of $295 million or 17 cents per share in the year-ago quarter. Barring one-time items, adjusted earnings per share were 35 cents. The figure beat the Zacks Consensus Estimate of 29 cents.

Barrick recorded total revenues of $3,130 million, up 13.9% year over year.

Kinross Gold Corporation KGC posted adjusted earnings of 30 cents per share, up from the prior-year quarter’s 10 cents. The bottom line missed the Zacks Consensus Estimate of 22 cents.

Kinross Gold’s revenues rose 38.4% year over year to $1.49 billion in the fourth quarter. KGC topped the Zacks Consensus Estimate of $1.29 billion.

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This article originally published on Zacks Investment Research (zacks.com).

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