10 Best Canadian Gold Stocks to Buy Now

8. B2Gold Corp. (NYSE:BTG)

Number of Hedge Fund Holders: 22

B2Gold Corp. (NYSE:BTG) is a gold producer based in Vancouver with operations across Mali, Namibia, and the Philippines. The company is proceeding with its Goose Project in northern Canada while exploring growth opportunities in Mali, Colombia, and Finland.

B2Gold Corp. (NYSE:BTG) produced 804,778 gold ounces for the year ended December 31, 2024, hitting the lower end of its guidance due to delays in accessing high-grade ore at the Fekola mine. Meanwhile, Q4 production reached 186,001 ounces, with increased production from the Masbate and Otjikoto mines.

Despite these bright spots, Fekola’s lower ore grades and processing issues affected the company’s earnings. Adjusted net income for shareholders dropped to $207 million ($0.16 per share) from $347 million ($0.28 per share) in 2023. On the upside, operating cash flow hit $878 million due to higher gold prices, while cash reserves stood at $337 million after paying off a $400 million credit facility.

Nevertheless, the outlook for B2Gold Corp. (NYSE:BTG) remains positive in 2025. Production growth is expected in 2025, with the Goose Project launching in Q2, targeting over 300,000 ounces annually. Additionally, exploration at Otjikoto’s Antelope deposit added 327,000 ounces to reserves, strengthening future production. The company is also progressing with Colombia’s Gramalote Project with a feasibility study due by mid-2025. This project should yield 234,000 ounces annually, boosting long-term growth.

As Goose ramps up and Fekola expands, B2Gold Corp. (NYSE:BTG) anticipates a strong 2025 rebound. Showing faith in its financial health, B2Gold declared a Q1 2025 dividend of $0.02 per share. As projects advance, the company is well-positioned for continued success, reinforcing its position as one of the best Canadian stocks.