10 Most Undervalued Stocks to Buy for Under $10

6. B2Gold (NYSE:BTG)  

Number of Hedge Fund Investors: 22  

Forward P/E Ratio as of October 8: 12.60  

Stock Price as of October 8: $3.0215  

B2Gold (NYSE:BTG) is a gold mining company that primarily operates in Africa and the Philippines. The company’s asset portfolio includes key mines such as the Fekola mine in Mali, the Masbate mine in the Philippines, and the Otjikoto mine in Namibia.

On September 11, B2Gold (NYSE:BTG) reached a new agreement on terms with the Mali government for the Fekola Complex. As part of this agreement, B2Gold (NYSE:BTG) anticipates faster approvals for both Fekola Regional and Fekola underground projects. Initial gold production from Fekola Regional is expected to begin in early 2025, while production from Fekola Underground is projected to start by mid-2025.

B2Gold’s (NYSE:BTG) Goose project in Canada, located in the Back River Gold District of Nunavut, is also expected to come online in 2025, with an annual production estimate of over 310,000 ounces of gold. The project boasts total resources exceeding 9.2 million ounces.

In terms of valuation, B2Gold (NYSE:BTG) appears undervalued relative to its peers. The stock is trading at a forward P/E ratio of 12.60, which is a 24.76% discount to the sector median of 16.75. Industry analysts maintained a consensus “Buy” rating on the stock, with an average price target of $4.30, reflecting a 34.92% upside from current levels.