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B2Gold (BTG) Achieves Record 2018 Gold Production & Revenues

Zacks Equity Research

B2Gold Corp BTG recently delivered record annual gold production and gold revenues for 2018 and the fourth quarter. The company also issued an annual production and cost guidance for 2019.

In 2018, the company recorded annual consolidated gold production of 953,504 ounces. Production expanded by 322,939 ounces reflected a 51% rise year over year. This marked B2Gold’s 10th consecutive year of record annual consolidated gold production. Notably, annual consolidated gold revenues soared 92% year over year to a record $1.2 billion.
Annual consolidated cash flows from operating activities are projected to increase to $450 million in 2018 from $155 million in 2017. Moreover, both Fekola and Masbate Mine recorded significantly higher-than-expected annual gold production of 439,068 ounces and 216,498 ounces, respectively.

In the fourth quarter of 2018, the company’s consolidated gold production was 231,687 ounces. Consolidated gold revenues were $272 million, representing a 56% surge year over year.
B2Gold is well placed to gain from a strong operational and financial performance. The company issues gold production guidance between 935,000 and 975,000 ounces for 2019. Cash operating costs are envisioned in the range of $520-$560 per ounce, higher than 2018 forecast of $505-$550 per ounce. All-in sustaining costs (AISC) are predicted between $835 and $875 per ounce for the ongoing year, more than the anticipation of $780-$830 per ounce for 2018.

The company also hopes to generate $360 million cash flow from operation in 2019. It will focus on organic growth through the expansion of mines plus exploration and development of the existing projects while reducing debt levels. 

B2Gold Corp Price and Consensus

B2Gold Corp Price and Consensus | B2Gold Corp Quote

Zacks Rank & Stocks to Consider

B2Gold currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the basic materials space are Ingevity Corporation NGVT, Israel Chemicals Ltd. ICL and Cameco Corporation CCJ.

Ingevity’s shares have gained 17% in the past year. The company has an expected earnings growth rate of 21.5% for 2019 and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Israel Chemicals has an expected earnings growth rate of 2.7% for 2019 and a Zacks Rank #2 (Buy). The stock has jumped 32% in a year.

Cameco has an expected earnings growth rate of 20% for 2019 and a Zacks Rank of 2. Its shares have rallied 23% in a year.

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