B2Gold Corp. BTG reported adjusted earnings per share (EPS) of 1 cent for fourth-quarter 2024, missing the Zacks Consensus Estimate of 6 cents. The bottom line slumped 86% year over year. The downside was attributed to the decrease in gold ounces sold in the quarter due to lower production at the Fekola mine.

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Including one-time items, the company reported a loss of 1 cent per share compared with the prior-year quarter’s loss of 9 cents.

B2Gold generated revenues of $499.8 million in fourth-quarter 2024, reflecting a year-over-year decrease of 2.4%. The 33.5% increase in average realized gold prices was partially offset by a 26.9% fall in gold ounces sold in the quarter. In the December-end quarter, B2Gold recorded a consolidated gold production of 186,001 ounces, down 31.1% year over year.

B2Gold Corp Price, Consensus and EPS Surprise

B2Gold Corp price-consensus-eps-surprise-chart | B2Gold Corp Quote

In the fourth quarter, the Fekola mine's production fell short of expectations due to the delayed access to high-grade ore, leading to reduced processing of high-grade material.

BTG’s Q4 Gross Margin Dips Y/Y, Costs Rise

The company reported consolidated cash operating costs of $968 per ounce in the reported quarter, up 58.4% year over year. The consolidated all-in-sustaining costs (AISC) of $1,668 per ounce rose 32% from the prior-year quarter.

For the October-December quarter, the total cost of sales was $326 million, up 6.3% year over year. The gross profit decreased 15.4% year over year to $174 million. The gross margin contracted to 34.8% in the reported quarter from the prior-year quarter’s 40.1%.

The operating income in the reported quarter was $128 million against the prior-year quarter’s operating loss of $35 million.

B2Gold’s Q4 Cash Flow & Balance Sheet Update

BTG’s cash and cash equivalents were $337 million at the end of 2024 compared with $307 million at the end of 2023. The company generated $878 million in cash from operating activities in 2024 compared with $714 million in 2023. Its long-term debt was $421 million at the end of 2024, up from $176 million at the end of 2023.

BTG’s 2024 Performance

B2Gold reported an adjusted EPS of 16 cents in 2024 compared with 28 cents in the prior year. Earnings missed the Zacks Consensus Estimate of 21 cents. Including one-time items, the company posted a loss of 48 cents against earnings of 1 cent in 223. 

Sales fell 1.2% year over year to $1.90 billion. The top line met the Zacks Consensus Estimate.

B2Gold’s 2025 Outlook

The company expects 2025 total gold production at the low end of 970,000-1,075,000 ounces. B2Gold’s production in 2024 was 804,778 ounces (including 19,644 attributable ounces from Calibre Mining Corp.).

BTG Stock’s Price Performance

The company’s shares have gained 19.8% in the past year compared with the industry’s growth of 61%.

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B2Gold’s Zacks Rank

BTG currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

BTG’s Peer Performances in Q4

Royal Gold, Inc. RGLD reported adjusted EPS of $1.63 in the fourth quarter of 2024, beating the Zacks Consensus Estimate of $1.49. The bottom line increased 72% year over year.

RGLD generated revenues of $203 million, up 32.7% year over year. The upside was driven by higher average metal prices, increased gold sales from Rainy River and Wassa, and higher gold sales from the Peñasquito mine. However, the gains were partially offset by a year-over-year decline in gold production from Cortez.

Barrick Gold Corporation GOLD recorded an adjusted EPS of 46 cents. The figure beat the Zacks Consensus Estimate of 41 cents. The company recorded net earnings (on a reported basis) of $996 million or 57 cents per share for fourth-quarter 2024. The figure improved from a profit of $479 million or 27 cents per share in the year-ago quarter.

Barrick’s total revenues were $3.64 billion, up 19.2% year over year.

Kinross Gold Corporation KGC posted adjusted earnings of 20 cents per share, up from the prior-year quarter figure of 11 cents. The bottom line missed the Zacks Consensus Estimate of 23 cents.

KGC’s revenues rose 26.9% year over year to $1.42 billion in the fourth quarter. It topped the Zacks Consensus Estimate of $1.11 billion.

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