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B2Gold (BTG) to Report Q2 Earnings: What's in the Cards?

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B2Gold Corp (BTG - Free Report) is slated to report second-quarter 2020 results on Aug 5, after the closing bell.

Q2 Estimates

The Zacks Consensus Estimate for B2Gold’s second-quarter earnings is currently pegged at 14 cents, suggesting a surge of 180% from the year-ago quarter. The estimates have been revised 16.7% upward over the past 30 days.

A Sneak Peek at Q1

In the last reported quarter, B2Gold delivered adjusted earnings per share of 10 cents, missing the Zacks Consensus Estimate of 11 cents. However, the reported figure marked a substantial improvement from the earnings of 3 cents reported in the prior-year quarter. B2Gold generated revenues of $380 million in the first quarter, reflecting year-over-year growth of 44% on account of higher average realized gold price and gold ounces sold.

The company has a trailing four-quarter average earnings surprise of 21.54%.

Factors to Note

In the June-end quarter, B2Gold recorded consolidated gold production of 239,574 ounces, 3% 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 257,100 ounces in the second quarter compared with the 203,700 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 28.8% so far this year fueled by the coronavirus crisis, low interest rates, U.S-China trade conflicts and the civil unrest in the United States. With the pandemic showing no signs of dissipating any time soon, the uncertainty regarding its impact on the global economy will continue to trigger safe-haven demand for gold. Impact of rising gold prices and higher units of gold sold will likely get reflected in the second-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

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 97.3% in the past year, outperforming the industry’s growth of 59.1%.


Stocks That Warrant a Look

Here are a few stocks which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:

SilverCrest Metals Inc. (SILV - Free Report) currently carries a Zacks Rank #3 and an Earnings ESP of +40.00%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Eastman Chemical Company (EMN - Free Report) has an Earnings ESP of +4.74% and holds a Zacks Rank of 3 currently.

Fortuna Silver Mines Inc. (FSM - Free Report) has an Earnings ESP of +50.00% and carries a Zacks Rank #3, at present.

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