6. B2Gold Corp. (NYSE:BTG)
Price as of March 3: $2.66
Forward P/E ratio: 6.07
Analysts upside potential: 41.35%
Number of hedge fund holders: 19
B2Gold Corp. (NYSE:BTG) produces gold from mines in Mali, the Philippines, and Namibia. The Vancouver, Canada-headquartered company not only mines the precious metal but also develops and explores gold mining opportunities worldwide.
Recently, the company announced a positive preliminary economic assessment (PEA) for the Antelope deposit at the Otjikoto mine in Namibia. The PEA demonstrates strong project economics with an after-tax NPV of $131 million (at a 5% discount rate) and an impressive IRR of 35%. This deposit is expected to contribute roughly 65,000 ounces of gold annually over a five-year mine life, potentially boosting Otjikoto’s overall production to about 110,000 ounces per year when combined with the processing of existing low-grade stockpiles.
Overall, B2Gold Corp.’s (NYSE:BTG) operations are robust. The company’s latest operational performance update indicates booming production. In Q4 2024, it outputted 186,001 ounces of gold, for a total annual production of 804,778 ounces. The company maintained tight control over costs, with Q4 consolidated cash operating costs at $968 per ounce and all-in sustaining costs at $1,668 per ounce.
Several growth initiatives are also in motion. The Goose Project, which is the company’s largest initiative in recent years, is on track to begin producing gold in Q2 2025. There is also the recent $460 million convertible note issuance that underscores market confidence in the company’s long-term strategy. This is sufficient evidence that the current share price of $2.66 is an anomaly and that B2Gold Corp.’s (NYSE:BTG) true potential is not fully reflected in the market.
