Obermatt

B2Gold

TOR:BTO · CA11777Q2099
Metals & MiningLarge

360

72
EV / EBIT95
Price / Owner Earnings24
Owner Earnings Yield44
Dividend Yield91
Price/Sales87
EV / Gross Profit100
Price/Book52
Return on Capital71
Cash Return on Capital37
Return on Equity41
EBIT Margin35
Gross Profitability87
Cash Conversion89
Accruals54
Owner Earnings Margin22
Sales growth66
Profit Growth93
Long-Term EPS Growth73
Reinvestment19
Price momentum48
Debt load70
Refinancing25
Debt Payback24
Liquidity96
Analyst ratings17
Opinion Changes50
Price Target Upside63
Market mood45
Value Creation16/20strong value creator
  • Creates more value than its capital costs
  • Owner earnings growing
  • Owner earnings per share growing
  • Reinvests at strong returns
  • Solid earnings base

What this means

B2Gold generates returns well above its cost of capital, the foundation of durable shareholder value.

Profile

CountryCanada
IndustryMetals & Mining
SizeLarge
TypePublic Company
ExchangeTSX
Founded2006
Employees1,134
Websiteb2gold.com
ISINCA11777Q2099
Last UpdateApr 2, 2026
Themes
Mining TechnologyMineralNatural Resources

Description

B2Gold Corp. operates as an international gold producer company in Canada. The company has four operating mines (one in each of Mali, Canada, the Philippines, and Namibia). In addition, the company has a portfolio of other development and exploratio…

Analysis

Bargain bin

B2Gold Corp. falls in the bargain bin: the price is low relative to peers, but the business metrics give reason to pause.

The price is expensive. You pay 25.0× its owner earnings: the cash an owner could take out each year, which is in the historically expensive zone. At today's price, the market is assuming roughly 9% yearly growth; analysts expect 16%. The price, in other words, assumes less than the experts do.

The trajectory is tepid and the balance sheet is sturdy. The company scores 16/20 on our value-creation score: strong value creator.

Nothing is flagged here: no red or amber gates, no divergence between profits and cash. That is itself information: the numbers are straightforward. As always: this describes the company's numbers; it is not a recommendation.

360° rank · history

1007550250
93
2023202420252026

All-time high

98

Jan 2026

All-time low

69

Nov 2025

Average rank

85

across all years

Detailed & Historical Ranks

Deep dive into 15 detailed ranks and 3 years of history.

Current202520242023
Price/Sales
87
73
37
49
Price/Earnings
60
90
72
71
Price/Book
52
70
69
53
Dividend Yield
91
90
98
98
Value (overall)
96
98
100
51

Cells are coloured by rank band (red weak → green strong). Sentiment & 360° history begins 2023.

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Make Sense of the Ranks

Every rank runs 1–100 against true peers. Higher is always better.

360° View
1 · Watch OutGood· 100
Value
1 · ExpensiveGood Value· 100
Quality
1 · Weak FundamentalsHigh Quality· 100
Growth
1 · Tough TimesHigh Growth· 100
Safety
1 · High LeverageWell-Financed· 100
Sentiment
1 · SkepticismPositive· 100
Learn More →