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B2Gold Corp. (BTO-T)
TSE:BTO
4.21
0.05
(1.17%) 1d
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$4.105
Owned
EPS of $0.05 missed expectations of $0.0656 and revenues of $477.89M missed expectations of $484.68M. Gold production was 242.8K ounces in the quarter, with expectations of an increase in Q4. Its AISC were lower than annual guidance ranges, which is a positive, and its Goose project construction was on budget. It remains on track to meet its 2023 total gold production forecast, Its gross profit improved significantly, however, it incurred higher operating expenses due to impairments and foreign exchange losses. Its cash from operations remains strong and its balance sheet is in good shape. This was an OK quarter, and we feel much will depend on the price of gold, although production is moving in the right direction.
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We have tended to lean towards large caps, such as AEM. We think KRR and AGI are also buys. BTO is a fairly large cap, offering good value at only 10X earnings with a 4.7% dividend. The balance sheet is very solid with $500M cash. We like it, but consensus calls for very low growth in the next two years, and EPS is still down from 2020 levels. So buyers need to have some patience. The last quarter was OK. NGG has outperformed BTO, and also has cash (only $35M though). But it is not yet producing so is still losing money, with negative cash flow. While we think it has potential, at this time we would prefer producers, taking comfort in the ongoing cash flow in a tough environment vs owning a developer still burning cash.
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Own shares in company.
Adding more shares recently.
Looking ahead - sees opportunity.
Big fan of management team.
Large shareholder in company.
Market concerns over recent M&A.
Is a good long term investment.
Dividend payout not as high because using cash in exploration & development.
Very good company that performs well consistently.
Good long term assets.
Ability to grow has been proven.
Great management team.
Dividends continue to grow.
His theme today is leverage, nice yield, and ability to grow cash. Production in West Africa. Newly entered into Nunavut. Experienced. Can improve economics of Back River mine, and this will balance another mine's shutting down in 2025. No debt. Yield is 4.04%.
(Analysts’ price target is $7.51)
BTO is a million ounces a year gold producer with assets in Mali, the Philippines and Namibia. Analysts expect quarterly production will be reported to have hit record levels in Q4:22 -- up over 25% on the year -- when earnings are released later this month. It pays a good dividend for a gold producer, backed by a payout ratio under 75% of cash flow. It trades at under 2x book value. We like that cash reserves are growing, while debt is being retired. We recommend placing a stop-loss at $4.40, looking to achieve $7.50 -- upside potential of 38%. Yield 4.0%
(Analysts’ price target is $7.50)Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The sector was beaten up badly and this presents a decent dividend yield. Economic stimulus should mean gold has an okay outlook. Has a strong balance sheet. Some patience might be required but the key is to have exposure for the moves and not after. Unlock Premium - Try 5i Free
B2Gold Corp.(BTO-T) Rating
Ranking : 5 out of 5
Bullish - Buy Signals / Votes : 8
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 0
Total Signals / Votes : 8
B2Gold Corp.(BTO-T) Frequently Asked Questions
What is B2Gold Corp. stock symbol?
B2Gold Corp. is a Canadian stock, trading under the symbol BTO-T on the Toronto Stock Exchange (BTO-CT). It is usually referred to as TSX:BTO or BTO-T
Is B2Gold Corp. a buy or a sell?
In the last year, 8 stock analysts published opinions about BTO-T. 8 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for B2Gold Corp..
Is B2Gold Corp. a good investment or a top pick?
B2Gold Corp. was recommended as a Top Pick by on . Read the latest stock experts ratings for B2Gold Corp..
Why is B2Gold Corp. stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is B2Gold Corp. worth watching?
8 stock analysts on Stockchase covered B2Gold Corp. In the last year. It is a trending stock that is worth watching.
What is B2Gold Corp. stock price?
On 2023-12-08, B2Gold Corp. (BTO-T) stock closed at a price of $4.21.
Symptom of the space. Very good executors, diversified asset base. Trades at a premium, so the bloom comes off when sentiment turns. Attractive yield around 4%, that's why he owns it. Recent acquisition will be additive by 2025.