# B2Gold Corp. (BTG)

> Source: Nexqual · https://nexqual.com/BTG · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, B2Gold Corp. (BTG), nexqual.com/BTG" · informational, not investment advice.

**Price:** USD 4.87 (-7.24% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 4.87 · day 4.86–5.09 · 52w 3.57–6.29 · market cap null · ASE

## Key facts
- 2 of 80 tracked superinvestors hold BTG (13F, Q2 2026): 0 new, 0 added, 0 reduced, 2 unchanged.
- Total return with dividends: 1Y -5.7% vs S&P 500 +14.9%; 5Y +35.1% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 0.11, revenue estimate $817M.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold BTG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.06% | $36.4M | Unchanged |
| Sarah Ketterer | Causeway Capital Management | <0.01% | $354K | Unchanged |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-16 | RBC Capital | Target raised | Sector Perform | $5 → $6.25 |
| 2026-07-09 | RBC Capital | Target lowered | Sector Perform | $5.75 → $5 |
| 2026-07-06 | Jefferies | Target lowered | Buy | $7 → $6 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -5.7% | +35.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -5.7% | +6.2% |
| Volatility (annualized) | 60.4% | 47.9% |
| Max drawdown | -40.7% (Feb 2026→Jul 2026) | -45.6% (Apr 2022→Feb 2024) |

## Peers (Gold)
AUGO (Aura Minerals Inc.) USD 78.55 -7.93% · OR (OR Royalties Inc.) USD 33.33 -4.25% · SSRM (SSR Mining Inc.) USD 29.2 -7.18% · OGC (OceanaGold Corporation) USD 25.27 -5.53% · EGO (Eldorado Gold Corporation) USD 32.91 -5.86% · IAG (Iamgold Corporation) USD 16.42 -7.86%

## More
Full page: https://nexqual.com/BTG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name BTG in their own reports (relationship from BTG's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Versamet Royalties Corp (VMET) | 20-F 2026-04-30 | "Concurrently with the closing of the first tranche of the B2Gold Transaction, the Company entered into an investor rights agreement with B2Gold ("B2Gold IRA") and an amended and restated the Sandstorm…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.11 | $0.17 | -32.7% | $816.8M | 10 |
| Next quarter (ends 2026-12-31) | $0.17 | $0.20 | -13.6% | $1.05B | 6 |
| Current fiscal year (ends 2026-12-31) | $0.54 | $0.63 | -13.5% | $3.65B | 12 |
| Next fiscal year (ends 2027-12-31) | $0.94 | $1.08 | -13.0% | $4.36B | 11 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-04): ±9.2%; earnings reaction alone ±4.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 48.5% | ±6.1% |
| 2026-11-06 | 14 | 55.1% | ±9.2% |
| 2026-11-13 | 21 | 56.1% | ±11.2% |
| 2026-11-20 | 28 | 55.6% | ±12.2% |
| 2026-11-27 | 35 | 50.0% | ±12.8% |
| 2026-12-18 | 56 | 47.8% | ±15.3% |
| 2027-01-15 | 84 | 51.1% | ±19.9% |
| 2027-04-16 | 175 | 51.6% | ±28.1% |