B2Gold (BTG)

Basic Materials · Gold
$5.07 -2.78% on the day Market cap $6.2B 52-week range $3.57 to $6.29 Prices as of Oct 7, 2026

What the price implies

A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.

B2Gold's free cash flow isn't comparable to its market value here, so a cash-flow reverse DCF doesn't give a meaningful answer. The Modeling tab works from revenue and margins instead.

Fundamental grade

C

Five factors scored 1 to 9 from BTG's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.

Valuation7
Profitability5
Financial health4

Key numbers

P/E (trailing)18.1x
P/E (forward)6.35x
Price / free cash flow92.9x
EV / EBITDA4.73x
Price / sales1.67x
Price / book1.82x
Revenue growth—
Operating margin—
Net margin—
Return on equity11.2%
Dividend yield1.6%
Debt / equity0.62x

Results from SEC filings

Fiscal years, from B2Gold's 10-K filings. The deep dive has 15+ years, quarters and every line.

Fiscal year20212022202320242025
Revenue—————
Net income$420M$253M$10M-$630M$402M
Free cash flow—————
EPS (diluted)$0.40$0.24$0.01-$0.48$0.28
Operating margin—————

Superinvestors who own BTG

From each investor's latest 13F filing (what a 13F shows). 2 of the investors we track hold it.

InvestorLast quarterValue% of portfolioQuarter
Jean-Marie Eveillard
First Eagle Investment Management
Held $36M0.06%Q2 2026
Cliff Asness
AQR Capital Management
Trimmed $126,1320.0%Q2 2026

Insider buying

Open-market purchases by B2Gold's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.

No open-market insider purchases of BTG in the last 12 months. Most insider activity is selling and option exercises, which aren't shown here.

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In the full deep dive

DCF fair value per share
Yearly return (IRR) at today's price
Growth implied by revenue and margins
15+ years of statements and quarters

Questions

Are B2Gold insiders buying the stock?

No open-market insider purchases of BTG in the last 12 months, according to SEC Form 4 filings.

Which superinvestors own B2Gold?

2 of the superinvestors Investingly tracks hold BTG in their latest 13F, including Jean-Marie Eveillard, Cliff Asness.

Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.