B2Gold Corp. BTG announced its total consolidated gold production for fourth-quarter 2024 at 186,001 ounces. Better-than-expected production at Masbate and Otjikoto offset lower production levels at Fekola in the quarter.
In the fourth quarter of 2023, B2Gold’s gold production from these three mines was 270,611 ounces.
BTG’s consolidated gold revenues in fourth-quarter 2024 were $500 million, down 2.3% year over year. In the quarter, the company sold 187,793 ounces at an average realized gold price of $2,661 per ounce.
B2Gold’s Mine Performance
The Fekola Mine produced 84,015 ounces of gold in the fourth quarter of 2024 and 392,946 ounces in 2024. Full-year gold production from the mine was below the company's guidance of 420,000-450,000 ounces.
The Masbate Mine produced 49,534 ounces of gold in the fourth quarter. The annual gold production from the mine was 194,046 ounces. The reported figure was in line with the company’s guidance of 175,000-195,000 ounces.
The Otjikoto Mine produced 52,452 ounces of gold in the fourth quarter and 198,142 ounces in 2024. The reported annual gold production was in line with the company’s guidance of 185,000-205,000 ounces.
BTG’s 2024 Performance
B2Gold’s total gold production for 2024 was 804,778 ounces (including 19,644 ounces of attributable production from Calibre). The reported figure achieved the lower end of 2024 guidance of 800,000-870,000 ounces. This is the ninth year in a row that BTG’s annual production guidance has been met or exceeded.
Annual consolidated gold revenues for 2024 were $1.90 billion. B2Gold sold 801,524 ounces of gold in 2024 at an average realized gold price of $2,373 per ounce. In 2023, the company sold 994,060 ounces of gold at an average realized gold price of $1,946 per ounce.
BTG expects total consolidated cash operating costs per gold ounce produced at the upper end of $835-$895 for 2024. Total consolidated all-in sustaining costs are expected to be at the upper end of $1,420-$1,480 per gold ounce.
B2Gold’s 2025 Guidance
BTG expects total gold production for 2025 to be 970,000-1,075,000 ounces. The company anticipates total consolidated cash operating costs for 2025 between $835 and $895 per gold ounce.
The company projects total consolidated all-in sustaining costs of $1,460-$1,520 per gold ounce.
BTG Stock’s Price Performance
The company’s shares have lost 16.4% in the past year against the industry’s growth of 21.9%.
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B2Gold’s Zacks Rank & Stocks to Consider
BTG currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, Fortuna Mining Corp. FSM and ATI Inc. ATI. CRS sports a Zacks Rank #1 (Strong Buy) at present, and FSM and ATI carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology has an average trailing four-quarter earnings surprise of 14.1%. The Zacks Consensus Estimate for CRS’s fiscal 2025 earnings is pegged at $6.61 per share. Its shares skyrocketed 162.7% last year.
Fortuna Mining has an average trailing four-quarter earnings surprise of 53.6%. The Zacks Consensus Estimate for FSM’s 2024 earnings is pegged at 48 cents per share. FSM’s shares gained 11.6% last year.
ATI has an average trailing four-quarter earnings surprise of 3.7%. The Zacks Consensus Estimate for ATI’s 2024 earnings is pegged at $2.28 per share. ATI’s shares gained 28.1% last year.
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