B2Gold Corp
BTG
is slated to report third-quarter 2020 results on Nov 3, after the closing bell.
Q3 Estimates
The Zacks Consensus Estimate for B2Gold’s third-quarter earnings is currently pegged at 15 cents, suggesting a 66.7% jump from the year-ago quarter. The estimates have been revised 25% upward over the past 30 days.
A Sneak Peek at Q2
In the last reported quarter, B2Gold delivered adjusted earnings per share of 11 cents, missing the Zacks Consensus Estimate of 13 cents. However, the reported figure marked a substantial improvement from the earnings of 5 cents reported in the prior-year period. B2Gold generated revenues of $442 million in the second quarter, reflecting a year-over-year surge of 65% on higher average realized gold price and gold ounces sold.
The company has a trailing four-quarter average earnings surprise of 1.03%.
Factors to Note
During the September-end quarter, B2Gold recorded consolidated gold production of 248,733 ounces, 1% above the budget level. The company witnessed solid performances across its Fekola, Masbate and Otjikoto mine operations, outpacing the respective targeted production for the quarter. Sales volume was 253,200 ounces in the third quarter compared with the 208,900 ounces recorded in the prior-year quarter. The company is well poised to grow on its solid operational and financial performance.
In addition, gold prices have been up 22.8% so far this year fueled by the coronavirus pandemic and rate cuts. With the pandemic showing no signs of dissipating any time soon, the uncertainty regarding its impact on the global economy will continue prompting safe-haven demand for gold. Impact of rising gold prices and higher units of gold sold will likely get reflected in the September-end quarter results. Further, the company’s cost-control efforts are anticipated to have contributed to the to-be-reported quarter’s margin performance.
B2Gold Corp Price and EPS Surprise
Earnings Whispers
Our proven model does not conclusively predict a beat for B2Gold this earnings season. The combination of a positive
Earnings ESP
and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.
You can uncover the best stocks to buy or sell before they’re reported with our
Earnings ESP Filter.
Earnings ESP:
The Earnings ESP for B2Gold is 0.00%.
Zacks Rank:
The company currently carries a Zacks Rank #2.
Price Performance
B2Gold’s shares have appreciated 76.7% in the past year, outperforming the
industry
’s growth of 34.8%.
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Stocks Poised to Beat Estimates
Here are some companies in the basic materials space you may want to consider as our model shows that these have the right combination of elements to post earnings beat this quarter:
Avient Corporation
AVNT
currently carries a Zacks Rank #2 and an Earnings ESP of +1.48%. You can see
the complete list of today’s Zacks #1 Rank stocks here.
First Majestic Silver Corp.
AG
has an Earnings ESP of +12% and holds a Zacks Rank of 3 currently.
Albemarle Corporation
ALB
has an Earnings ESP of +5.73% and carries a Zacks Rank #3, at present.
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