B2Gold Corp (BTG - Free Report) reported first-quarter 2020 adjusted earnings per share of 10 cents, which missed the Zacks Consensus Estimate of 11 cents. However, the reported figure marked a substantial improvement from earnings of 3 cents reported in the prior-year quarter. The upside can be attributed to solid performances across all of the company's operations, particularly the Fekola Mine in Mali, and higher gold prices and low costs.
Including one-time items, the company reported earnings of 7 cents per share compared with 2 cents per share in the prior-year quarter.
B2Gold generated revenues of $380 million in first-quarter 2020, reflecting year-over-year growth of 44%. This upside resulted from an increase of 22% in the average realized gold price and an improvement of18% in gold ounces sold.
Over the past year, B2Gold has gained 95.9% compared with the industry’s growth of 81.9%.
Zacks Rank & Other Stocks to Consider
B2Gold currently carries a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the basic materials space are Newmont Corporation (NEM - Free Report) , Barrick Gold Corporation (GOLD - Free Report) and Wheaton Precious Metals Corp (WPM - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Newmont has an expected earnings growth rate of 90.2% for 2020. The company’s shares have surged 103.6% in the past year.
Barrick Gold has an estimated earnings growth rate of 60.8% for the ongoing year. Its shares have soared 112.7% over the past year.
Wheaton has a projected earnings growth rate of 62.5% for the current year. The company’s shares have appreciated 107% in a year’s time.
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