We recently published a list of 10 Best Canadian Gold Stocks to Buy Now. In this article, we are going to take a look at where B2Gold Corp. (NYSEAMERICAN:BTG) stands against other best Canadian gold stocks to buy now.
Gold remains a trusted store of value during economic uncertainty. Due to global inflation, geopolitical tensions, and central bank demand, the appeal of gold is surging to new highs. According to Fortune Business Insights, the global gold market, worth $291.68 billion in 2024, is projected to reach $457.91 billion by 2032, growing at a CAGR of 5.8%. Reuters reported that this price surge has attracted investors, with spot gold hitting a record $2,936.38 per ounce and U.S. futures reaching $2,956.10.
Investor interest remains high as gold-backed ETFs saw a 26% jump in 2024, their best performance since 2010. Additionally, central bank demand is expected to exceed the 500-ton long-term average in 2025, further supporting prices, though any purchasing slowdown could pose risks.
Macroeconomic factors also affect gold’s future as the U.S. recently imposed a 25% tariff on Mexican and Canadian imports, along with additional duties on Chinese goods, sparking inflation worries. While automakers received temporary exemptions, market uncertainty persists. According to a Reuters survey, investors are watching the upcoming U.S. non-farm payrolls report, which could affect Federal Reserve policy and gold prices.
On the supply side, global gold production held steady at about 3,300 metric tons in 2024, with China, Russia, Australia, and Canada as the top producers. Meanwhile, the recycled gold supply rose 11% to 1,370 tons, reflecting increased market liquidity. With China and India accounting for over 60% of annual gold consumption, the countries remain crucial market influencers in 2025.
However, global gold trade patterns are shifting from their traditional eastward flow to meet China’s and India’s demands. Gold shipments are now being redirected to the U.S. as Asian retail demand weakens. Reuters reported that bullion banks are capitalizing on Comex futures rather than premium spot prices by redirecting gold supplies to the U.S. Furthermore, U.S. gold inventories have jumped nearly 80% since late 2024, with increased imports from London, Switzerland, and Asian markets, cementing America’s key role in the global market.
Additionally, technological innovation is reshaping the gold industry. Advances in bio-leaching, cyanide-free processing, and nanotechnology are boosting extraction efficiency and sustainability, promising lower environmental impact and positioning the sector for long-term growth.
Entering 2025, the U.S. gold market continues to be shaped by inflation, geopolitical uncertainties, changing trade policies, and technological advances. Amid these shifting market dynamics, gold remains a vital asset for those seeking security and growth potential.
Methodology
To compile our list of the 10 Best Canadian Gold Stocks according to hedge funds, we used the Finviz stock screener to find the 30 largest Canadian companies that are involved in the production, extraction, processing, or sale of gold. We then used Insider Monkey’s Hedge Fund database to rank those stocks according to the number of hedge fund holders as of Q4 2024. Finally, we picked ten stocks with the highest number of hedge fund holders. The list is sorted in ascending order of hedge fund sentiment.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Aerial view of a gold mine in Mali, showing the scale of the mining operations.
B2Gold Corp. (NYSEAMERICAN:BTG)
Number of Hedge Fund Holders: 22
B2Gold Corp. (NYSEAMERICAN: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. (NYSEAMERICAN: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. (NYSEAMERICAN: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. (NYSEAMERICAN: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.
Overall, BTG ranks 8th on our list of best Canadian gold stocks to buy now. While we acknowledge the potential of BTG, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BTG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
