B2Gold Corp BTG is slated to report first-quarter 2026 earnings results on May 6, after the closing bell.
The Zacks Consensus Estimate for BTG’s first-quarter earnings is pegged at 11 cents, indicating growth from the 9 cents reported a year ago. The consensus estimate has moved 26.7% south in the past 60 days.
BTG’s Earnings Surprise History
B2Gold delivered an earnings beat in one of the trailing four quarters and lagged in the other three, the average negative surprise being 14.8%.
What the Zacks Model Unveils for B2Gold
Our model does not predict an earnings beat for BTG this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you can see below.
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Earnings ESP: B2Gold has an Earnings ESP of 0.00%.
Zacks Rank: BTG currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Factors Likely to Have Shaped BTG’s Q1 Performance
After soaring 65% in 2025, gold prices remain strong in 2026, driven by increased geopolitical tensions, a depreciating U.S. dollar, the potential for monetary policy easing, continuous purchasing by central banks and tariff conditions. This momentum in the prices of gold is likely to have improved B2Gold’s performance in the to-be-reported quarters.
The Goose mine in Nunavut, Canada, achieved commercial production in early October 2025. This milestone was reached within three months after the mill started operating. The company expects 170,000-230,00 ounces of gold production in 2026 for the Goose mine.
The impacts of production from the Goose mine and prices are expected to get reflected in B2Gold’s top line in the first quarter of 2026.
However, BTG has been witnessing cost inflation pressure across all sites, impacting input prices, including reagents, fuel and consumables. Higher fuel and labor costs, coupled with a stronger foreign exchange rate, are driving total costs. These headwinds are expected to have somewhat impacted the company’s first-quarter margins.
The company expects 2026 total gold production between 820,000 and 970,000 ounces, marking a decrease from the 979,604 ounces produced in 2025. The downside is likely to be driven by a step down in production at the Otjikoto Mine and lower production at the Fekola Complex.
B2Gold’s Recent Developments
BTG, on April 23, 2026, announced that it closed the sale of its 70% interest in Fingold Ventures Ltd. to Agnico Eagle Mines Limited AEM. On April 20, BTG inked a deal with Agnico Eagle Mines to sell a 70% stake in Fingold for $325 million in cash. B2Gold expects to use the proceeds from the deal to strengthen its financial position.
Per the transaction, B2Gold and Agnico Eagle Mines inked a collaboration agreement to exchange operational expertise across their respective operations in Nunavut, Canada.
BTG’s Share Price Performance
B2Gold’s shares have gained 53.3% in the past year compared with the industry's surge of 75.2%. Meanwhile, the Basic Materials sector has jumped 44.7%, whereas the S&P 500 has grown 33.2%.
Stocks Poised to Beat Estimates
Here are some Basic Materials stocks, which, according to our model, have the right combination of elements to post an earnings beat in their upcoming releases.
Albemarle Corporation ALB, scheduled to release first-quarter 2026 earnings on May 6, has an Earnings ESP of +20.12%. It carries a Zacks Rank #3 at present.
The Zacks Consensus Estimate for Albemarle’s earnings for the first quarter is pegged at $1.24, indicating a turnaround performance from the loss of 18 cents in the year-ago quarter. Albemarle has a trailing four-quarter average earnings surprise of 57.8%.
Wheaton Precious Metals Corp. WPM, slated to release first-quarter 2026 earnings on May 7, has an Earnings ESP of +7.44% and a Zacks Rank #3.
The Zacks Consensus Estimate for Wheaton Precious Metals’ earnings for the first quarter is pegged at $1.15, indicating year-over-year growth of 109.9%. Wheaton Precious Metals has a trailing four-quarter average earnings surprise of 13.7%.
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Albemarle Corporation (ALB): Free Stock Analysis Report
Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report
B2Gold Corp (BTG): Free Stock Analysis Report
Wheaton Precious Metals Corp. (WPM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).