B2Gold Corp BTG is slated to report third-quarter 2024 earnings results on Nov. 6, after the closing bell.

The Zacks Consensus Estimate for BTG’s third-quarter earnings is pegged at 5 cents, indicating no change from the year-ago reported figure. The consensus estimate has been unchanged in the past 60 days.

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BTG’s Earnings Surprise History

B2Gold delivered a beat in one of the trailing four quarters and lagged in the other three, the average surprise being negative 11.5%.

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Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

What the Zacks Model Unveils for B2Gold

Our proven model does not conclusively predict an earnings beat for B2Gold this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here, as you can see below.

You can uncover the best stocks before they are reported with our Earnings ESP Filter.

Earnings ESP: B2Gold has an Earnings ESP of 0.00%.

Zacks Rank: BTG currently carries a Zacks Rank of 3.

Factors Likely to Have Shaped BTG’s Q3 Performance

Gold prices averaged $2,491 per ounce in the third quarter, up 29% from the prior-year level. Throughout the quarter, gold prices have been fueled by increasing expectations of interest rate cuts and rising tensions in the Middle East. The Fed’s announcement of a 50-basis-point rate cut at the Sept. 17-Sept. 18 meeting lifted gold prices, which ended the quarter at above $2,600 per ounce. 

The impacts of higher gold prices are expected to get reflected in B2Gold’s top line in the third quarter of 2024.

However, B2Gold reported an excavator incident at the Fekola mine in the second quarter of 2024, delaying the mining of higher-grade ore from Phase 7 of the Fekola pit in the second half. B2Gold anticipates a production loss of 50,000 ounces for 2024. This likely resulted in a lower year-over-year output in the third quarter. 

B2Gold has been witnessing cost inflation pressure across all sites, impacting input prices, including reagents, fuel and consumables. Higher fuel and labor costs, coupled with a stronger foreign exchange rate, are driving costs. These headwinds are expected to have impacted the company’s third-quarter margins.

B2Gold’s Share Price Performance

Shares of B2Gold have gained 1.8% in the past year compared with the industry's growth of 41%.

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Stocks to Consider

Here are some stocks with the right combination of elements to post an earnings beat in their upcoming releases.

Royal Gold, Inc. RGLD, ready to release earnings on Nov. 6, has an Earnings ESP of +1.13% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for RGLD’s third-quarter 2024 earnings is pegged at $1.25. It has a trailing four-quarter average surprise of 6.4%.

Kinross Gold Corporation KGC, scheduled to release its third-quarter 2024 on Nov. 5, has an Earnings ESP of +3.18% and a Zacks Rank of 3 at present.

The Zacks Consensus Estimate for KGC’s third-quarter 2024 earnings is pegged at 16 cents per share, suggesting year-over-year growth of 33.3%. It has a trailing four-quarter average surprise of 29.1%.

Osisko Gold Royalties OR, which currently carries a Zacks Rank of 2, is expected to report third-quarter 2024 results later this month. OR has an Earnings ESP of +1.59%.

The Zacks Consensus Estimate for OR’s earnings for the quarter is pegged at 11 cents per share, indicating 22% year-over-year growth. It has a trailing four-quarter average earnings surprise of 4.1%.

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