2025 Q3 -tulosraportti
70 päivää sitten22 min
0,028 CAD/osake
Viimeisin osinko
1,72%Tuotto/v
Tarjoustasot
Toronto Stock Exchange
Määrä
Osto
0
Myynti
Määrä
0
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Ylin
6,52VWAP
Alin
6,39VaihtoMäärä
51,4 7 940 047
VWAP
Ylin
6,52Alin
6,39VaihtoMäärä
51,4 7 940 047
Välittäjätilasto
Dataa ei löytynyt
Yhtiötapahtumat
Datan lähde: Quartr, FactSet| Seuraava tapahtuma | |
|---|---|
| 2025 Q4 -tulosraportti | 25.2. |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q3 -tulosraportti | 6.11.2025 | |
| 2025 Q2 -tulosraportti | 8.8.2025 | |
| Vuosittainen yhtiökokous 2025 | 19.6.2025 | |
| 2025 Q1 -tulosraportti | 8.5.2025 | |
| 2024 Q4 -tulosraportti | 20.2.2025 |
Asiakkaat katsoivat myös
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
·10 t sittenWe are in a historic gold market (Spot Gold >$4,600/oz), yet BTG is trading near CA$6.50 levels seen when the gold price was half that. The market is pricing this stock as if its primary asset (Fekola in Mali) is already lost, or that its new growth engine (Goose in Canada) will fail catastrophically. Although the risks are real, the valuation has detached from the mechanistic reality of their cash flows. If they manage to produce and sell just 70 % of their expectations, the stock is mispriced. This is not a "safe haven" investment, however; it is a bet on jurisdictional arbitrage. Mechanistic Operational Analysis: To understand the investment, one must understand the machine that generates the money. B2Gold is currently transitioning from relying on a single asset (Fekola) to a two-engine model (Fekola + Goose). The Growth Engine: The Goose Project (Nunavut, Canada) Status: Commercial production achieved in Q4 2025. This is an underground and open-pit mine with high gold content (high-grade). Mechanistically, higher grade means lower costs per ounce because less rock is processed for the same amount of gold. The problems with the crushing plant reported in Q3 2025 are classic teething problems, but in the Arctic, these are not trivial. You can't just fly in heavy spare parts in winter. Reliance on mobile crushers is an expensive stopgap solution that raises unit costs (AISC). The market fears a "Nunavut discount". Arctic mines often face a 12-18 month "hell phase" during startup, where costs explode. If B2Gold navigates through this winter without a total shutdown, the share price increase will potentially be massive. The Cash Cow: The Fekola Complex (Mali) Status: Fully operational with approved regional expansion. Fekola is a low-cost monster. It moves massive amounts of material efficiently. At a gold price of $4,600, the margins here are enormous (>$2,700/oz margin). The primary anchor weighing down the share price is geopolitical risk. The junta in Mali has rewritten mining legislation. The risk is not just taxes; it is "creeping expropriation," where the state demands larger ownership stakes or stops exports (as seen with other mining companies in the region). The market currently assigns a value close to zero to Fekola's long-term cash flows, assuming the government will eventually take it all. Financial Health & Valuation: Financials: Liquidity: ~$367 million in cash (Q3 2025). Debt: The company has drawn on its credit facility and issued convertible bonds to complete Goose. This breaks their long-standing tradition of a pristine, debt-free balance sheet. But with gold at current levels, their "payback period" is measured in months, not years (assuming they can repatriate funds from Mali). Valuation Metrics P/E ratio: ~28x. This looks expensive based on historical figures, but it is misleading. It reflects the capital-intensive construction phase where earnings were suppressed. Forward P/E (incorporating full Goose production + $4,600 gold) is single-digit. Dividend Yield: ~1.7 %. Do not buy this stock for the dividend. The yield is artificially low because they are holding onto cash to complete the startup of Goose. Expect a massive dividend increase in late 2026 if operations stabilize. The Valuation Gap: Competitors in "safe" jurisdictions (e.g., Agnico Eagle) trade at massive premiums. B2Gold trades at a discount due to the "Africa discount". At a gold price of $4,600, it is mathematically absurd for a producer with ~1 million oz/year to be traded at a market capitalization of ~$9 billion, unless one believes they will lose 50 % of their production to nationalization. Macroeconomic Factors: Gold Price ($4,600+): We are in a cycle of currency devaluation. This lifts all boats, but it helps leveraged high-cost investments (like B2Gold) the most. Input Inflation: Although fuel prices have stabilized, the cost of skilled labor in remote areas (Arctic) is exploding. B2Gold's margins will expand, but less than the gold price increase suggests due to stubborn AISC inflation. The Verdict: Bull Scenario: The Goose mine successfully starts up before summer 2026 and diversifies risk away from Mali. The Malian government settles for higher taxes rather than full expropriation. The stock doubles to close the valuation gap. Bear Scenario: The Arctic crushers fail in mid-winter and halt Goose production. Simultaneously, Mali demands a 35 %+ ownership stake in Fekola under the new legislation. The stock collapses to liquidation value. My Analysis: The market is too pessimistic about the risks. Even if Mali becomes a "break-even" operation due to taxes, the Goose project alone, at these gold prices, justifies a higher valuation than the current price. You are essentially getting the cash flow from Mali as a free option.
·5.1.This stock can double by 2026. Hugely undervalued company.
·15 t sittenAgree on doubling during the year. My price target is USD 10 by the end of the year. Increased production from Back River, growth in Columbia, absence of expropriation in Mali and not least that the last gold prepay ounces will be delivered in July will lead to a repricing. Should anything serious happen in Mali, the share price will fall temporarily, but even then the company is cheap at today's gold price.
27.11.2025 · Muokattu27.11.2025 · MuokattuWas very tempted to jump into this one, but what’s with the massive insider selling this year? Normally don’t care for that, but when it’s this many different insiders selling decent sized batches it does trigger a red flag for me. Has anyone considered this and still bought?
1.12.20251.12.2025When were those sales done? When Mali was about to turn into war zone, many investors sold within a week. There is one moment of price decline and rest of the year is mostly going up. If insiders sold at some other moment, I would also like to know when and why.·1.12.2025Mmmh one can never really answer with certainty why insiders sell - buying tends to be safer - price will go up. But when I screened, among others, BTO, the insider selling during the year was quite heavy (https://simplywall.st/stocks/ca/materials/tsx-bto/b2gold-shares/ownership). But I'm also asking because I don't know their timeline of major events for the stock in such detail.
·10.11.2025Worth noting. At the end of Q3, the gold price was 3850 and the share price was 6.8. Production has risen sharply last quarter. In the middle of Q4, the gold price is 4000 and the share price is 5.5.11.11.202511.11.2025Barrick's mine was looted, but yet their value has doubled this year, and there was barely no drop when the junta seized a ton of gold. Somehow B2 has more risk?18.11.202518.11.2025Soon half of the prepayment is sold. Then their revenue will double and profits will triple, if gold stays above 3500.- 6.11.20256.11.2025They more than doubled their gold revenue from Q3 2024 to Q3 of 2025. What is the problem here? They will pay off the promised non-profit ounces and eventually get to keep full profits from the gold they mine. They sacrifice quick profits by paying of debt in fast pace, unlike most companies.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Uutiset
Ei uutisia tällä hetkellä
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
2025 Q3 -tulosraportti
70 päivää sitten22 min
0,028 CAD/osake
Viimeisin osinko
1,72%Tuotto/v
Uutiset
Ei uutisia tällä hetkellä
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- ·10 t sittenWe are in a historic gold market (Spot Gold >$4,600/oz), yet BTG is trading near CA$6.50 levels seen when the gold price was half that. The market is pricing this stock as if its primary asset (Fekola in Mali) is already lost, or that its new growth engine (Goose in Canada) will fail catastrophically. Although the risks are real, the valuation has detached from the mechanistic reality of their cash flows. If they manage to produce and sell just 70 % of their expectations, the stock is mispriced. This is not a "safe haven" investment, however; it is a bet on jurisdictional arbitrage. Mechanistic Operational Analysis: To understand the investment, one must understand the machine that generates the money. B2Gold is currently transitioning from relying on a single asset (Fekola) to a two-engine model (Fekola + Goose). The Growth Engine: The Goose Project (Nunavut, Canada) Status: Commercial production achieved in Q4 2025. This is an underground and open-pit mine with high gold content (high-grade). Mechanistically, higher grade means lower costs per ounce because less rock is processed for the same amount of gold. The problems with the crushing plant reported in Q3 2025 are classic teething problems, but in the Arctic, these are not trivial. You can't just fly in heavy spare parts in winter. Reliance on mobile crushers is an expensive stopgap solution that raises unit costs (AISC). The market fears a "Nunavut discount". Arctic mines often face a 12-18 month "hell phase" during startup, where costs explode. If B2Gold navigates through this winter without a total shutdown, the share price increase will potentially be massive. The Cash Cow: The Fekola Complex (Mali) Status: Fully operational with approved regional expansion. Fekola is a low-cost monster. It moves massive amounts of material efficiently. At a gold price of $4,600, the margins here are enormous (>$2,700/oz margin). The primary anchor weighing down the share price is geopolitical risk. The junta in Mali has rewritten mining legislation. The risk is not just taxes; it is "creeping expropriation," where the state demands larger ownership stakes or stops exports (as seen with other mining companies in the region). The market currently assigns a value close to zero to Fekola's long-term cash flows, assuming the government will eventually take it all. Financial Health & Valuation: Financials: Liquidity: ~$367 million in cash (Q3 2025). Debt: The company has drawn on its credit facility and issued convertible bonds to complete Goose. This breaks their long-standing tradition of a pristine, debt-free balance sheet. But with gold at current levels, their "payback period" is measured in months, not years (assuming they can repatriate funds from Mali). Valuation Metrics P/E ratio: ~28x. This looks expensive based on historical figures, but it is misleading. It reflects the capital-intensive construction phase where earnings were suppressed. Forward P/E (incorporating full Goose production + $4,600 gold) is single-digit. Dividend Yield: ~1.7 %. Do not buy this stock for the dividend. The yield is artificially low because they are holding onto cash to complete the startup of Goose. Expect a massive dividend increase in late 2026 if operations stabilize. The Valuation Gap: Competitors in "safe" jurisdictions (e.g., Agnico Eagle) trade at massive premiums. B2Gold trades at a discount due to the "Africa discount". At a gold price of $4,600, it is mathematically absurd for a producer with ~1 million oz/year to be traded at a market capitalization of ~$9 billion, unless one believes they will lose 50 % of their production to nationalization. Macroeconomic Factors: Gold Price ($4,600+): We are in a cycle of currency devaluation. This lifts all boats, but it helps leveraged high-cost investments (like B2Gold) the most. Input Inflation: Although fuel prices have stabilized, the cost of skilled labor in remote areas (Arctic) is exploding. B2Gold's margins will expand, but less than the gold price increase suggests due to stubborn AISC inflation. The Verdict: Bull Scenario: The Goose mine successfully starts up before summer 2026 and diversifies risk away from Mali. The Malian government settles for higher taxes rather than full expropriation. The stock doubles to close the valuation gap. Bear Scenario: The Arctic crushers fail in mid-winter and halt Goose production. Simultaneously, Mali demands a 35 %+ ownership stake in Fekola under the new legislation. The stock collapses to liquidation value. My Analysis: The market is too pessimistic about the risks. Even if Mali becomes a "break-even" operation due to taxes, the Goose project alone, at these gold prices, justifies a higher valuation than the current price. You are essentially getting the cash flow from Mali as a free option.
- ·5.1.This stock can double by 2026. Hugely undervalued company.·15 t sittenAgree on doubling during the year. My price target is USD 10 by the end of the year. Increased production from Back River, growth in Columbia, absence of expropriation in Mali and not least that the last gold prepay ounces will be delivered in July will lead to a repricing. Should anything serious happen in Mali, the share price will fall temporarily, but even then the company is cheap at today's gold price.
- 27.11.2025 · Muokattu27.11.2025 · MuokattuWas very tempted to jump into this one, but what’s with the massive insider selling this year? Normally don’t care for that, but when it’s this many different insiders selling decent sized batches it does trigger a red flag for me. Has anyone considered this and still bought?1.12.20251.12.2025When were those sales done? When Mali was about to turn into war zone, many investors sold within a week. There is one moment of price decline and rest of the year is mostly going up. If insiders sold at some other moment, I would also like to know when and why.·1.12.2025Mmmh one can never really answer with certainty why insiders sell - buying tends to be safer - price will go up. But when I screened, among others, BTO, the insider selling during the year was quite heavy (https://simplywall.st/stocks/ca/materials/tsx-bto/b2gold-shares/ownership). But I'm also asking because I don't know their timeline of major events for the stock in such detail.
- ·10.11.2025Worth noting. At the end of Q3, the gold price was 3850 and the share price was 6.8. Production has risen sharply last quarter. In the middle of Q4, the gold price is 4000 and the share price is 5.5.11.11.202511.11.2025Barrick's mine was looted, but yet their value has doubled this year, and there was barely no drop when the junta seized a ton of gold. Somehow B2 has more risk?18.11.202518.11.2025Soon half of the prepayment is sold. Then their revenue will double and profits will triple, if gold stays above 3500.
- 6.11.20256.11.2025They more than doubled their gold revenue from Q3 2024 to Q3 of 2025. What is the problem here? They will pay off the promised non-profit ounces and eventually get to keep full profits from the gold they mine. They sacrifice quick profits by paying of debt in fast pace, unlike most companies.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Toronto Stock Exchange
Määrä
Osto
0
Myynti
Määrä
0
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Ylin
6,52VWAP
Alin
6,39VaihtoMäärä
51,4 7 940 047
VWAP
Ylin
6,52Alin
6,39VaihtoMäärä
51,4 7 940 047
Välittäjätilasto
Dataa ei löytynyt
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr, FactSet| Seuraava tapahtuma | |
|---|---|
| 2025 Q4 -tulosraportti | 25.2. |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q3 -tulosraportti | 6.11.2025 | |
| 2025 Q2 -tulosraportti | 8.8.2025 | |
| Vuosittainen yhtiökokous 2025 | 19.6.2025 | |
| 2025 Q1 -tulosraportti | 8.5.2025 | |
| 2024 Q4 -tulosraportti | 20.2.2025 |
2025 Q3 -tulosraportti
70 päivää sitten22 min
Uutiset
Ei uutisia tällä hetkellä
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr, FactSet| Seuraava tapahtuma | |
|---|---|
| 2025 Q4 -tulosraportti | 25.2. |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q3 -tulosraportti | 6.11.2025 | |
| 2025 Q2 -tulosraportti | 8.8.2025 | |
| Vuosittainen yhtiökokous 2025 | 19.6.2025 | |
| 2025 Q1 -tulosraportti | 8.5.2025 | |
| 2024 Q4 -tulosraportti | 20.2.2025 |
0,028 CAD/osake
Viimeisin osinko
1,72%Tuotto/v
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- ·10 t sittenWe are in a historic gold market (Spot Gold >$4,600/oz), yet BTG is trading near CA$6.50 levels seen when the gold price was half that. The market is pricing this stock as if its primary asset (Fekola in Mali) is already lost, or that its new growth engine (Goose in Canada) will fail catastrophically. Although the risks are real, the valuation has detached from the mechanistic reality of their cash flows. If they manage to produce and sell just 70 % of their expectations, the stock is mispriced. This is not a "safe haven" investment, however; it is a bet on jurisdictional arbitrage. Mechanistic Operational Analysis: To understand the investment, one must understand the machine that generates the money. B2Gold is currently transitioning from relying on a single asset (Fekola) to a two-engine model (Fekola + Goose). The Growth Engine: The Goose Project (Nunavut, Canada) Status: Commercial production achieved in Q4 2025. This is an underground and open-pit mine with high gold content (high-grade). Mechanistically, higher grade means lower costs per ounce because less rock is processed for the same amount of gold. The problems with the crushing plant reported in Q3 2025 are classic teething problems, but in the Arctic, these are not trivial. You can't just fly in heavy spare parts in winter. Reliance on mobile crushers is an expensive stopgap solution that raises unit costs (AISC). The market fears a "Nunavut discount". Arctic mines often face a 12-18 month "hell phase" during startup, where costs explode. If B2Gold navigates through this winter without a total shutdown, the share price increase will potentially be massive. The Cash Cow: The Fekola Complex (Mali) Status: Fully operational with approved regional expansion. Fekola is a low-cost monster. It moves massive amounts of material efficiently. At a gold price of $4,600, the margins here are enormous (>$2,700/oz margin). The primary anchor weighing down the share price is geopolitical risk. The junta in Mali has rewritten mining legislation. The risk is not just taxes; it is "creeping expropriation," where the state demands larger ownership stakes or stops exports (as seen with other mining companies in the region). The market currently assigns a value close to zero to Fekola's long-term cash flows, assuming the government will eventually take it all. Financial Health & Valuation: Financials: Liquidity: ~$367 million in cash (Q3 2025). Debt: The company has drawn on its credit facility and issued convertible bonds to complete Goose. This breaks their long-standing tradition of a pristine, debt-free balance sheet. But with gold at current levels, their "payback period" is measured in months, not years (assuming they can repatriate funds from Mali). Valuation Metrics P/E ratio: ~28x. This looks expensive based on historical figures, but it is misleading. It reflects the capital-intensive construction phase where earnings were suppressed. Forward P/E (incorporating full Goose production + $4,600 gold) is single-digit. Dividend Yield: ~1.7 %. Do not buy this stock for the dividend. The yield is artificially low because they are holding onto cash to complete the startup of Goose. Expect a massive dividend increase in late 2026 if operations stabilize. The Valuation Gap: Competitors in "safe" jurisdictions (e.g., Agnico Eagle) trade at massive premiums. B2Gold trades at a discount due to the "Africa discount". At a gold price of $4,600, it is mathematically absurd for a producer with ~1 million oz/year to be traded at a market capitalization of ~$9 billion, unless one believes they will lose 50 % of their production to nationalization. Macroeconomic Factors: Gold Price ($4,600+): We are in a cycle of currency devaluation. This lifts all boats, but it helps leveraged high-cost investments (like B2Gold) the most. Input Inflation: Although fuel prices have stabilized, the cost of skilled labor in remote areas (Arctic) is exploding. B2Gold's margins will expand, but less than the gold price increase suggests due to stubborn AISC inflation. The Verdict: Bull Scenario: The Goose mine successfully starts up before summer 2026 and diversifies risk away from Mali. The Malian government settles for higher taxes rather than full expropriation. The stock doubles to close the valuation gap. Bear Scenario: The Arctic crushers fail in mid-winter and halt Goose production. Simultaneously, Mali demands a 35 %+ ownership stake in Fekola under the new legislation. The stock collapses to liquidation value. My Analysis: The market is too pessimistic about the risks. Even if Mali becomes a "break-even" operation due to taxes, the Goose project alone, at these gold prices, justifies a higher valuation than the current price. You are essentially getting the cash flow from Mali as a free option.
- ·5.1.This stock can double by 2026. Hugely undervalued company.·15 t sittenAgree on doubling during the year. My price target is USD 10 by the end of the year. Increased production from Back River, growth in Columbia, absence of expropriation in Mali and not least that the last gold prepay ounces will be delivered in July will lead to a repricing. Should anything serious happen in Mali, the share price will fall temporarily, but even then the company is cheap at today's gold price.
- 27.11.2025 · Muokattu27.11.2025 · MuokattuWas very tempted to jump into this one, but what’s with the massive insider selling this year? Normally don’t care for that, but when it’s this many different insiders selling decent sized batches it does trigger a red flag for me. Has anyone considered this and still bought?1.12.20251.12.2025When were those sales done? When Mali was about to turn into war zone, many investors sold within a week. There is one moment of price decline and rest of the year is mostly going up. If insiders sold at some other moment, I would also like to know when and why.·1.12.2025Mmmh one can never really answer with certainty why insiders sell - buying tends to be safer - price will go up. But when I screened, among others, BTO, the insider selling during the year was quite heavy (https://simplywall.st/stocks/ca/materials/tsx-bto/b2gold-shares/ownership). But I'm also asking because I don't know their timeline of major events for the stock in such detail.
- ·10.11.2025Worth noting. At the end of Q3, the gold price was 3850 and the share price was 6.8. Production has risen sharply last quarter. In the middle of Q4, the gold price is 4000 and the share price is 5.5.11.11.202511.11.2025Barrick's mine was looted, but yet their value has doubled this year, and there was barely no drop when the junta seized a ton of gold. Somehow B2 has more risk?18.11.202518.11.2025Soon half of the prepayment is sold. Then their revenue will double and profits will triple, if gold stays above 3500.
- 6.11.20256.11.2025They more than doubled their gold revenue from Q3 2024 to Q3 of 2025. What is the problem here? They will pay off the promised non-profit ounces and eventually get to keep full profits from the gold they mine. They sacrifice quick profits by paying of debt in fast pace, unlike most companies.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Toronto Stock Exchange
Määrä
Osto
0
Myynti
Määrä
0
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| - | - | - | - |
Ylin
6,52VWAP
Alin
6,39VaihtoMäärä
51,4 7 940 047
VWAP
Ylin
6,52Alin
6,39VaihtoMäärä
51,4 7 940 047
Välittäjätilasto
Dataa ei löytynyt