10 Cheap Canadian Stocks to Buy According to Analysts

3. B2Gold Corp. (NYSE:BTG)

Forward P/E Ratio: 6.65

Earnings Growth This Year: 150.00%

Analyst Upside Potential: 41.08%

B2Gold Corp. (NYSE:BTG) is a Canadian company that specializes in gold mining. It has operations in several countries including the Fekola Mine in Mali, the Otjikoto Mine in Namibia, and the Masbate Mine in the Philippines. The company is also involved in developing new projects and exploring for gold in countries like Colombia, Finland, and Canada. In Canada, it is working on the Goose Project in Nunavut and has interests in the Back River Gold District.

On February 20, analyst Brian Quast from BMO Capital maintained a Buy rating on the stock while keeping the price target at C$7.00. The analyst noted that the company’s gold production levels were in line with expectations, reaching the lower end of their revised annual guidance for 2024. This stability suggests a reliable production base moving forward. In addition, the cash operating costs and all-in-sustaining costs were within the company’s guidance ranges as well, indicating that the company is managing its expenses effectively.

During the fiscal fourth quarter of 2024, B2Gold Corp. (NYSE:BTG) produced 186,001 ounces of gold. Management noted that strong performance from the Masbate and Otjikoto mines aided in offsetting the lower output from Fekola. It is one of the cheap Canadian stocks to buy according to analysts.