Overview

* B2Gold Q2 2025 revenue misses analyst expectations, per LSEG data

* Gold production in Q2 exceeds company expectations at 229,454 ounces

* Adjusted net income misses estimates, per LSEG data

Outlook

* B2Gold ( BTG ) expects Goose Mine production of 120,000 to 150,000 ounces in 2025

* Company forecasts Fekola Complex gold production of 515,000 to 550,000 ounces in 2025

* B2Gold ( BTG ) updates Masbate Mine cash cost guidance to $850-$910 per ounce

* Company sees Otjikoto Mine all-in sustaining costs at $965-$1,025 per ounce

Result Drivers

* HIGHER PRODUCTION - Gold production exceeded expectations at Fekola, Masbate, and Otjikoto mines, contributing to lower cash operating costs

* LOWER FUEL COSTS - Reduced fuel costs helped lower cash operating costs per gold ounce produced

* ROYALTIES IMPACT - Higher gold royalties due to increased average realized gold price affected all-in sustaining costs

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $692.21 $705.30

Revenue mln mln (2

Analysts

)

Q2 EPS $0.1

Q2 Miss $162.84 $180.10

Adjusted mln mln (1

Net Analyst)

Income

Q2 Net $160.75

Income mln

Q2 Basic $0.12

EPS

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the gold peer group is "buy"

* Wall Street's median 12-month price target for B2Gold Corp ( BTG ) is C$6.33, about 17.5% above its August 7 closing price of C$5.22

* The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)