TSX · Gold · CAD

B2Gold Corp. (BTO.TO) Stock Analysis

B2Gold Corp. (BTO.TO) is a Gold stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

BTO.TO

CA$7.36

+CA$0.06 (+0.82%)

Oct 21, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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BTO.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$7.36
Previous Close: CA$7.30
Day's Range: 7.28–7.40
52-Week Range: 5.02–8.60
Volume: 3.82M
Beta: 1.41

Valuation

Market Cap: CA$9.79B
P/E Ratio: 9.75
Forward P/E: 5.18
PEG Ratio: 0.89
P/S ratio: 2.59
EPS (ttm): 0.76

Financials (FY)

Revenue (FY): CA$3.06B+60.95%
Net Income (FY): CA$401.91M
Profit margin: 21.33%
Shares Outstanding: 1.32B
1-Year Return: +2.86%

Dividend and dates

Dividend: CA$0.11+1.50%
Ex-Dividend Date: September 10, 2026
Earnings Date: November 4, 2026
Avg Volume: 4.04M

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, BTO.TO closed at CA$7.36, +2.86% over 1 year.

B2Gold Corp. (BTO.TO) has a market capitalization of CA$9.79B.

In fiscal 2025, BTO.TO reported revenue of CA$3.06B.

BTO.TO Stock Return by Calendar Year

B2Gold Corp. (BTO.TO) 10-year return: what CA$10,000 became

1 year: CA$10,000 CA$10,286; +2.86%
5 years: CA$10,000 CA$16,964; +69.64%
10 years: CA$10,000 CA$25,399; +153.99%

If you had invested CA$10,000 in B2Gold Corp. (BTO.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$25,399 at the close on October 21, 2026: +153.99% in total, +9.77% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−27.32%+79.48%+20.15%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+20.15%
2025	+79.48%
2024	−10.89%
2023	−8.71%
2022	+0.86%
2021	−27.32%
2020	+39.49%
2019	+30.94%
2018	+2.84%
2017	+21.63%
2016 (partial year)	−8.33%

As of October 21, 2026.

BTO.TO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$3.06B	CA$401.91M	13.1%
2024	CA$1.90B	−CA$629.89M	−33.1%
2023	CA$1.93B	CA$10.10M	0.5%
2022	CA$1.73B	CA$252.87M	14.6%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$3.06B	CA$1.53B	CA$1.40B	CA$401.91M	13.1%
2024	CA$1.90B	CA$706.20M	CA$594.80M	−CA$629.89M	−33.1%
2023	CA$1.93B	CA$780.00M	CA$674.64M	CA$10.10M	0.5%
2022	CA$1.73B	CA$604.24M	CA$516.53M	CA$252.87M	14.6%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

BTO.TO Dividend History

’19’20’21’22’23’24’25’26*

CA$0.11−48.9% vs 2024

Dividends per share, 2025 · 4 payments

Year	Dividends per share	Payments	Change
2026*	CA$0.08	3	—
2025	CA$0.11	4	−48.9%
2024	CA$0.22	4	+1.9%
2023	CA$0.22	4	+2.4%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$0.08	3	—
2025	CA$0.11	4	−48.9%
2024	CA$0.22	4	+1.9%
2023	CA$0.22	4	+2.4%
2022	CA$0.21	4	+3.4%
2021	CA$0.20	4	+41.0%
2020	CA$0.14	4	+1,007.7%
2019	CA$0.01	1	—

Most recent payment: CA$0.03 per share, ex-dividend September 10, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

BTO.TO Valuation vs Gold Median

Median of 93 stocks

Metric	BTO.TO	Gold median	vs median
P/E	9.75	12.32	21% below
P/S ratio	2.59	4.56	43% below
Profit margin	21.33%	31.40%	10.1 pts below

Medians across 93 Gold stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

B2Gold Corp. (BTO.TO) carries a market capitalisation of CA$9.79B. It is classified in the Gold industry, within the Basic Materials sector.

The 52-week range on file runs from CA$5.02 to CA$8.60. The most recent close on file for BTO.TO is CA$7.36, dated October 21, 2026. That is +CA$0.06 (+0.82%) against the previous close. The latest close sits 46.61% above that 52-week low.

Financial Health

In fiscal 2025, B2Gold Corp. reported revenue of CA$3.06B. Against the prior fiscal year total of CA$1.90B, that is a change of +60.95%. Net income for the same year was CA$401.91M. The reported profit margin is 21.33%. That is 10.1 percentage points below the Gold median of 31.4%. Earnings per share on a trailing basis come to 0.76.

Across the 4 fiscal years on file, revenue moves from CA$1.73B in 2022 to CA$3.06B in 2025. Of those 4 years, 3 report positive net income.

Valuation Assessment

BTO.TO trades at a trailing price-to-earnings ratio of 9.75. That is 20.83% below the Gold median of 12.32. On forward earnings the ratio is 5.18. The PEG ratio, which sets the P/E against expected earnings growth, reads 0.89. The price-to-sales ratio is 2.59. On price-to-sales that is 43.28% below the Gold median of 4.56. The medians here are taken across 93 Gold companies that report the metric.

Beta against the wider market is reported at 1.41. Annualized volatility over the trailing 10 years is 45.56%. The trailing one-year total return is +2.86%. Measured over 10 years, that is +9.77% a year compounded.

Growth & Income

BTO.TO pays a dividend yielding 1.5%. That is 0.4 percentage points above the Gold median yield of 1.05%. At the indicated rate that is CA$0.11 a share a year. The ex-dividend date on file is September 10, 2026. Dividends are recorded for 8 calendar years; 2026 shows 3 payments totalling CA$0.08 a share. The year before, 2025, totalled CA$0.11 a share.

The strongest complete calendar year on file is 2025 at +79.48%; the weakest is 2021 at −27.32%. Of the 9 complete calendar years on file, 6 finished higher. 2026 is still running; the total return is +20.15% year to date.

Peer Comparison

B2Gold Corp. (BTO.TO) operates in the Gold industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
B2Gold Corp.	BTO.TO	CA$9.79B	9.8
Newmont Corporation	NEM	$123.47B	14.8
Agnico Eagle Mines Limited	AEM	$94.87B	16.0
Barrick Mining Corporation	ABX.TO	CA$94.18B	10.7

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Gold industry average P/E ratio is 12.3x. B2Gold Corp. trades at a P/E of 9.8.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

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About B2Gold Corp.

B2Gold Corp. operates as a gold producer company in Canada. The company operates the Fekola Mine in Mali; the Masbate Mine in the Philippines; the Otjikoto Mine in Namibia; the Goose Mine in Canada. It also owns 100% interest in the Gramalote gold project in Colombia. In addition, the company has a portfolio of other evaluation and exploration assets in Mali, Canada and Finland. The company was incorporated in 2006 and is headquartered in Vancouver, Canada.

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