Momentum Stock Watch: B2Gold Corp. (BTG)

Company Profile:

B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties for gold deposits in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, and Namibia. The company primarily holds 80% interest in the Fekola mine, an open pit gold mine located in Mali; 90% interest in the Otjikoto gold mine located north of Windhoek, Namibia; the Masbate gold project located in the south-east of Manila, the Philippines; and 100% interest in the El Limon mine, an underground gold mine located in northwestern Nicaragua. It also holds 100% interest in the La Libertad mine located in northeast of Juigalpa, Nicaragua; 81% interest in the Kiaka and Toega projects located in Burkina Faso; and 49% interest in the Gramalote property located in Colombia. The company was incorporated in 2006 and is headquartered in Vancouver, Canada.

Recent News:

For the fourth quarter of 2018, consolidated gold revenue was $272 million on sales of 221,307 ounces at an average price of $1,230 per ounce compared to $174 million on sales of 137,695 ounces at an average price of $1,264 per ounce in the fourth quarter of 2017.

For the year ended December 31, 2018 , the Company recorded net income of $45 million ( $0.03 per share) compared to net income of $62 million ( $0.06 per share) for 2017. Adjusted net income was $162 million ( $0.16 per share) for 2018 compared to $52 million ( $0.05 per share) for 2017.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.


Profitability – Measures the historical price movement of the stock.


Solvency – Measures the solvency of the company based on several ratios.


Efficiency – Measures the strength and historic growth of a company’s return on invested capital.



BTG’s strengths can be seen in its better profitability and strong solvency compared with its peers. Its net income has increased over recently several years. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, the MACD is trying to cross back up and the RSI stands at 42.86 with positive bias. We rate B2Gold Corp. (BTG) a STRONG BUY.

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