B2Gold Corp.
BTO.TO (TSX: BTO) TSXAt a glance
- Up 22.4% over the past year; the S&P/TSX Composite rose 20.0%.
- P/E 6.2 — lower than 71% of Basic Materials peers (177 companies).
- Market cap $9.29B; average daily dollar volume $31.1M over the past 3 months — High liquidity.
- Pays a 1.54% trailing dividend yield (as of 2026-11-12).
- Latest published plan: LONG on 2026-10-09 at $7.48 — resolved LOSS -5.35% (full ladder).
- 1-year volatility 59.3% (annualized); largest fall from a peak over the past year -39.4%.
Price chart
Split- and dividend-adjusted. All three lines are rebased to 100 at the start of the range, so the chart compares moves, not prices. L marks a LONG plan, S a SHORT plan — each links to that session's day page.
Monthly closes (table version, last 5 years)
| Month | Close |
|---|---|
| 2021-12 | 4.98 |
| 2022-01 | 4.58 |
| 2022-02 | 5.12 |
| 2022-03 | 5.74 |
| 2022-04 | 5.45 |
| 2022-05 | 5.02 |
| 2022-06 | 4.36 |
| 2022-07 | 4.48 |
| 2022-08 | 4.03 |
| 2022-09 | 4.44 |
| 2022-10 | 4.16 |
| 2022-11 | 4.69 |
| 2022-12 | 4.81 |
| 2023-01 | 5.27 |
| 2023-02 | 4.66 |
| 2023-03 | 5.34 |
| 2023-04 | 5.33 |
| 2023-05 | 5.03 |
| 2023-06 | 4.72 |
| 2023-07 | 4.57 |
| 2023-08 | 4.16 |
| 2023-09 | 3.90 |
| 2023-10 | 4.44 |
| 2023-11 | 4.58 |
| 2023-12 | 4.19 |
| 2024-01 | 3.75 |
| 2024-02 | 3.27 |
| 2024-03 | 3.55 |
| 2024-04 | 3.48 |
| 2024-05 | 3.84 |
| 2024-06 | 3.67 |
| 2024-07 | 4.14 |
| 2024-08 | 3.79 |
| 2024-09 | 4.18 |
| 2024-10 | 4.60 |
| 2024-11 | 4.08 |
| 2024-12 | 3.52 |
| 2025-01 | 3.51 |
| 2025-02 | 3.87 |
| 2025-03 | 4.09 |
| 2025-04 | 4.31 |
| 2025-05 | 4.61 |
| 2025-06 | 4.92 |
| 2025-07 | 4.66 |
| 2025-08 | 5.67 |
| 2025-09 | 6.88 |
| 2025-10 | 6.14 |
| 2025-11 | 6.49 |
| 2025-12 | 6.18 |
| 2026-01 | 6.63 |
| 2026-02 | 8.38 |
| 2026-03 | 6.32 |
| 2026-04 | 6.14 |
| 2026-05 | 6.60 |
| 2026-06 | 5.32 |
| 2026-07 | 5.25 |
| 2026-08 | 7.60 |
| 2026-09 | 7.43 |
| 2026-10 | 6.41 |
| 2026-11 | 7.05 |
The Composite is proxied by XIU.TO (iShares S&P/TSX 60 Index ETF); the database holds no Composite index series. The sector fund is a fund, never the index.
Performance
Over the past year the stock is up 22.4% against +20.0% for the Composite — 2.3 points ahead.
| Metric | 1W | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|---|---|---|
| Stock | -4.7% | -5.7% | -2.8% | -4.2% | +14.1% | +22.4% | +19.4% | +4.6% |
| Sector fund (XMA.TO) | -1.3% | -8.3% | -8.1% | -11.9% | +1.8% | +13.6% | +37.4% | +17.8% |
| Composite (XIU.TO, proxy) | +1.8% | +2.8% | -0.1% | +9.4% | +16.1% | +20.0% | +22.0% | +10.5% |
| Difference vs Composite | -6.5% | -8.5% | -2.7% | -13.6% | -2.0% | +2.3% | -2.6% | -5.9% |
3Y and 5Y are annualized from 3Y. The Composite is proxied by XIU.TO; the sector fund is iShares S&P/TSX Capped Materials Index ETF (XMA.TO).
Risk and trading
1-year volatility +59.3% (annualized); largest fall from a peak -39.4% (Feb 26, 2026 to Jul 20, 2026); beta 1.75 against the Composite (2Y weekly).
| Volatility (1Y, annualized) | +59.3% |
| Maximum drawdown (1Y) | -39.4% (Feb 26, 2026 to Jul 20, 2026) |
| Beta (2Y weekly, vs Composite) | 1.75 |
| Average daily volume (3M) | 4,224,479 |
| Dollar volume (3M, average per day) | $31.1M |
| Liquidity | High (High: $1M or more a day; Moderate: $100K or more; Low: under $100K, by average daily dollar volume.) |
Valuation
P/E 6.2 — lower than 71% of Basic Materials peers (177 companies). The sector median P/E is 11.3.
| Multiple | Value | Against sector peers |
|---|---|---|
| P/E (TTM) | 6.2 | Lower than 71% of peers (177 companies; median 11.3) |
| Earnings yield | 16.17% | — |
| P/B | 1.51 | Lower than 54% of peers (204 companies; median 1.65) |
| P/S | Not available: Not available — needs TTM revenue; see financials. | — |
| EV/EBITDA | 4.6 | Lower than 56% of peers (174 companies; median 5.7) |
| Dividend yield | 1.54% | — |
| Payout ratio | Not available: Not available — no stored dividend history yet. | — |
Each multiple is shown against the sector median of the pages' universe as a percentile: "lower than 25% of peers" means the value sits below 25% of them. Valuation multiples are from the Nov 12, 2026 snapshot, and are always printed with that date.
More: dividend rate and earnings yield
Dividend rate: 0.110. Earnings yield is earnings per share divided by price — the inverse of P/E.
Financials
Revenue $3.06B in 2025 (TTM $3.16B); net income $401.9M; free cash flow $895.8M. Reporting currency: USD.
| Metric | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $3.06B | $3.06B | $3.06B | $3.06B | $3.16B |
| Gross margin | 50.0% | 50.0% | 50.0% | 50.0% | — |
| Net income | $401.9M | $401.9M | $401.9M | $401.9M | $1.67B |
| Free cash flow | $895.8M | $895.8M | $895.8M | $895.8M | -$315.0M |
| Diluted shares | 1,340,621,856 | 1,340,621,856 | 1,340,621,856 | 1,340,621,856 | — |
Revenue by year
Free cash flow by year
| Cash | $380.4M |
| Total debt | $598.3M |
| Debt-to-equity | 0.17 |
| Operating margin (latest snapshot, Nov 12, 2026) | 43.3% |
Figures as reported in stored financials; reporting currency USD. Operating margin is not stored per year, so the latest snapshot value is shown. TTM covers 2025-09-30, 2025-12-31, 2026-03-31, 2026-06-30.
Dividends and splits
Pays a 1.54% trailing dividend yield (as of Nov 12, 2026). No splits on record.
| Year | Dividend per share |
|---|---|
| Not available: No stored dividend history yet. | |
Trailing yield 1.54% is the stored key-stats snapshot value (as of Nov 12, 2026) — the dividend history itself is not stored yet, so no history table is shown.
| Date | Action | Ratio |
|---|---|---|
| Not available: No splits on record for this ticker. | ||
Next ex-dividend date: Not available: No stored ex-dividend dates for equities. Prices on the chart are split- and dividend-adjusted (no splits on record, so nothing to adjust).
Ownership and dilution
Insiders bought 2 times and sold 2 times in the 90 days to Nov 12, 2026. Shares outstanding grew 0.0% over 1 year.
| Insider buys (90 days) | 2 |
| Insider sell (90 days) | 2 |
| Shares outstanding change (1Y) | 0.0% |
| Shares outstanding change (3Y) | 0.0% |
| Held by insiders | 0.41% |
| Held by institutions | 70.85% |
Counts are by filing date. Holdings are from the key-stats snapshot (as of Nov 12, 2026).
Recent insider trades (20)
| Filing date | Type | Name | Shares | Price | Value |
|---|---|---|---|---|---|
| Oct 1, 2026 | OTHER | STANSBURY (DENNIS) | 56 | 0.020 | $1 |
| Oct 1, 2026 | OTHER | CHATWIN (RANDALL C) | 373 | 0.020 | $7 |
| Oct 1, 2026 | OTHER | CINNAMOND (MICHAEL ANDREW) | 405 | 0.020 | $8 |
| Oct 1, 2026 | OTHER | KING (VICTOR JOHN) | 1,020 | 0.020 | $20 |
| Oct 1, 2026 | OTHER | KROHNERT (NINETTE) | 233 | 0.020 | $4 |
| Oct 1, 2026 | OTHER | MCDONALD (MICHAEL STEPHEN) | 157 | 0.020 | $3 |
| Oct 1, 2026 | OTHER | MONTANO (PETER) | 23 | 0.020 | $0 |
| Oct 1, 2026 | OTHER | MOORE (DANIEL BRUCE) | 18 | 0.020 | $0 |
| Oct 1, 2026 | OTHER | RAJALA (JOHN ALEX) | 589 | 0.020 | $11 |
| Oct 1, 2026 | OTHER | BARTZ, EDUARD | 78 | 0.020 | $1 |
| Oct 1, 2026 | OTHER | BROWN (ANDREW BRUCE) | 163 | 0.020 | $3 |
| Sep 29, 2026 | OTHER | B2GOLD CORP | 443,000 | 5.54 | $2.5M |
| Sep 29, 2026 | OTHER | B2GOLD CORP | 600,000 | 5.32 | $3.2M |
| Sep 29, 2026 | OTHER | B2GOLD CORP | 658,000 | 5.21 | $3.4M |
| Sep 29, 2026 | OTHER | B2GOLD CORP | 663,600 | 5.41 | $3.6M |
| Sep 29, 2026 | OTHER | B2GOLD CORP | 266,800 | 5.32 | $1.4M |
| Sep 24, 2026 | BUY | WEISMAN (ROBIN LESLIE) | 9 | 3.71 | $33 |
| Sep 24, 2026 | BUY | OKE,MARY-LYNN IDA | 32 | 5.26 | $168 |
| Aug 31, 2026 | OTHER | B2GOLD CORP | 1,500,000 | 5.46 | $8.2M |
| Aug 31, 2026 | OTHER | B2GOLD CORP | 1,379,300 | 5.66 | $7.8M |
Peers
Peers in Basic Materials, by market cap: AEM.TO, ABX.TO, WPM.TO, FNV.TO, NTR.TO, TECK-A.TO, TECK-B.TO, K.TO.
| Ticker | Price | 1Y % | Market cap | P/E | EV/EBITDA | Div yield | 1Y vol |
|---|---|---|---|---|---|---|---|
| AEM.TO | 254.28 | +8.2% | $128.55B | 14.9 | 12.4 | 0.96% | +49.2% |
| ABX.TO | 53.96 | +7.5% | $87.88B | 9.9 | 7.2 | 1.78% | +47.0% |
| WPM.TO | 187.96 | +28.9% | $85.37B | 29.4 | 29.7 | 0.57% | +52.1% |
| FNV.TO | 352.89 | +29.6% | $68.06B | 33.4 | 32.2 | 0.70% | +39.3% |
| NTR.TO | 101.50 | +22.1% | $48.12B | 16.0 | 11.1 | 3.06% | +31.8% |
| TECK-A.TO | 87.28 | +44.6% | $42.85B | 11.3 | 6.2 | 0.55% | +48.8% |
| TECK-B.TO | 87.23 | +45.0% | $42.83B | 11.3 | 6.2 | 0.55% | +47.4% |
| K.TO | 29.53 | -16.8% | $34.79B | 8.1 | 6.4 | 0.74% | +53.7% |
Each row links to its own page when one exists. Peer 1Y returns and volatility use raw closes; peer splits are unadjusted.
analiti.ca history
2 published plans: 0 wins, 2 losses, 0 open; average -5.55% per resolved plan (full ladder).
| Date | Side | Entry | Stop | First exit | Exits | Outcome (full ladder) | First exit | Hold |
|---|---|---|---|---|---|---|---|---|
| 2026-10-07 | SHORT | 7.12 | 7.53 | 6.85 | Exit 1 · 40% out 6.85 (+3.8%); Exit 2 · 30% out 6.58 (+7.6%); Exit 3 · 20% out 6.31 (+11.4%) | LOSS (-5.76%) · Oct 13, 2026 | LOSS (-5.76%) · Oct 13, 2026 | 32 |
| 2026-10-09 | LONG | 7.48 | 7.08 | 7.75 | Exit 1 · 40% out 7.75 (+3.6%); Exit 2 · 30% out 8.01 (+7.1%); Exit 3 · 20% out 8.28 (+10.7%) | LOSS (-5.35%) · Oct 14, 2026 | LOSS (-5.35%) · Oct 14, 2026 | 32 |
The full ladder is the headline method: 40/30/20% at the three exits, the last slice held to stop or end. First exit credits the whole position at the first exit level. Full history: the track record. Each plan's day page is linked from its date; the brief that day: brief not published yet, brief not published yet.
Superstock score
Latest score 0.0 (Nov 13, 2026). The score is the published Superstock screen score — nothing else.
| Date | Score |
|---|---|
| Nov 8, 2026 | 0.0 |
| Nov 9, 2026 | 0.0 |
| Nov 9, 2026 | 0.0 |
| Nov 10, 2026 | 0.0 |
| Nov 10, 2026 | 0.0 |
| Nov 10, 2026 | 0.0 |
| Nov 11, 2026 | 0.0 |
| Nov 11, 2026 | 0.0 |
| Nov 12, 2026 | 0.0 |
| Nov 12, 2026 | 0.0 |
| Nov 13, 2026 | 0.0 |
| Nov 13, 2026 | 0.0 |
Sector condition: Basic Materials — Lagging (as of Nov 5, 2026). Superstock screen.
Key dates
| Next earnings | Not available: No company release or exchange notice in the stored data — stored dates are Yahoo-sourced, so none is shown. |
| Last earnings | Aug 6, 2026 · EPS 0.03 |
| Next ex-dividend | Not available: No stored ex-dividend dates for equities. |
The next earnings date is shown only from the company's own release or an exchange notice, with a link. The stored last-earnings date is Yahoo-sourced.
Sources and data notes
| Block | Source | As of |
|---|---|---|
| prices, chart, performance, risk | daily_prices (Yahoo) | Nov 12, 2026 |
| valuation, market cap, ownership | yahoo_key_stats snapshot | Nov 12, 2026 |
| financials | financials (Yahoo) | Jun 30, 2026 |
| plans, resolutions | published entries-*.json + track-record.json | Nov 12, 2026 |
| insiders | insider_trades (SEDI filings) | Nov 12, 2026 |
| splits | Split inventory (interim table) | Nov 5, 2026 |
| sector condition | conditions-2026-11-05.json | Nov 5, 2026 |
| Superstock score | superstock_checks + superstock.json | Nov 12, 2026 |
Not available rules. A field older than its freshness limit shows "not available", never a stale number: prices, 3 trading days; fundamentals, 120 days after the fiscal period end plus 45 days. Valuation multiples are always printed with their snapshot date.
Data file: /data/t/BTO.TO.json · Markdown twin: /t/BTO.TO.md
Facts and published history only. Plans are generated by a quant model.