B2Gold (BTG)

• Market cap: $5.73B
• 1 day: 0.23%
• 5 days: -0.46%
• 1 month: 11.31%
• 3 months: 17.34%
• 6 months: 34.06%
• Year to date: 67.18%
• 1 year: 31.61%
• 5 years: -37.88%
• 10 years: 254.92%
• Sector: Materials
• Industry: Gold

About: B2Gold Corp is an international, low-cost, senior gold mining company. It has three operating open-pit gold mines in Mali, Namibia, and the Philippines and numerous exploration projects across four continents. Other assets include the Gramalote and Kiaka gold projects. The company focuses on acquiring and developing interests in mineral properties with a primary focus on gold deposits as gold production forms all its revenue. There is no dependence on a particular purchaser because the gold is sold into various markets. The company's reportable operating segments include its mining operations and development projects, namely Fekola; Masbate; Otjikoto; the Goose Project, and other mineral properties; and corporate and other.

Employees: 6,150

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

50% more funds holding in top 10

Funds holding in top 10: 2 [Q1] → 3 (+1) [Q2]

35% more capital invested

Capital invested by funds: $2.05B [Q1] → $2.77B (+$718M) [Q2]

23% more repeat investments, than reductions

Existing positions increased: 90 | Existing positions reduced: 73

3.42% more ownership

Funds ownership: 54.56% [Q1] → 57.98% (+3.42%) [Q2]

8% more first-time investments, than exits

New positions opened: 41 | Existing positions closed: 38

1% more call options, than puts

Call options by funds: $26.7M | Put options by funds: $26.5M

0% less funds holding

Funds holding: 251 [Q1] → 250 (-1) [Q2]

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $4
• Avg. target: $4
• High target: $4

1 analyst rating

• positive: 0 0%
• neutral: 1 100%
• negative: 0 0%

CIBC Anita Soni

$4

Neutral Maintained

15 Jul 2025