BTG · AMEX · STOCK
B2Gold (BTG) Stock Analysis
$5.25
52W $3.57 – $6.29
64/100
$7.00B
9.0
1.35
⚠
Buy rating, but near-term risk/reward is unfavorable
The long-term recommendation is based on the composite investment score. The near-term risk/reward is based on nearby support and resistance levels. These can differ when a strong company trades close to resistance with support further below.
Is BTG Bullish or Bearish?
Bullish.
Innellis AI committee rates B2Gold Corp. (BTG) Buy with a composite score of 64/100
, based on 6 analysts with 83% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +10.85 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -9.15 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Risk Analyst sees a compelling case — low leverage (debt-to-equity 0.17) -- balance sheet can absorb a shock. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- P/E of 8.4 is inexpensive for the broad market — Value
- ROE of 22.2% shows genuine earnings power backing the valuation — Value
- Dividend yield of 5.3% pays you to wait — Value
- Revenue growing 74.2% YoY -- genuine top-line momentum — Growth
- Low leverage (debt-to-equity 0.17) -- balance sheet can absorb a shock — Risk
Bear Case
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- MACD histogram negative -- bearish momentum — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
64/100
Agreement
83%
Analysts
6
Conviction
High
Sector Rank
Top 9%
of 99 Basic Materials peers
Value Analyst
bullish
70
/ 100 · High confidence
Classic value case: cheap on multiples with earnings power to back it up
+ P/E of 8.4 is inexpensive for the broad market
Growth Analyst
bullish
60
/ 100 · Moderate confidence
Strong, accelerating growth with consistent execution
+ Revenue growing 74.2% YoY -- genuine top-line momentum
− Growth rate is decelerating quarter over quarter -- the trend line matters more than the level
Technical Analyst
neutral
48
/ 100 · High confidence
Mixed or range-bound price action
− MACD histogram negative -- bearish momentum
Risk Analyst
bullish
80
/ 100 · Low confidence
Risk profile is manageable -- leverage, volatility, and event exposure all look contained
+ Low leverage (debt-to-equity 0.17) -- balance sheet can absorb a shock
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 64.2 to 64.2.
- Bullish support removed: 1 signal(s) disappeared.
- New bullish signals: 1 appeared.
Analyst-level changes:
- Value Analyst: +1 bullish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
51.6
Neutral
MACD Histogram
-0.035
Bearish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Hh Hl
Support
$4.32
Resistance
$5.58
Bollinger %B
0.46
Inside Bands
Price vs Moving Averages
EMA 9
$5.19
Above
EMA 21
$5.25
Above
EMA 50
$5.11
Above
EMA 200
$4.71
Above
Fundamental Analysis
Valuation
99
Growth
15
Profitability
74
Financial Health
83
Cash Flow
70
Valuation
P/E Ratio
9.0×
P/B Ratio
1.76×
PEG Ratio
0.01
Dividend Yield
1.48%
52W High
$6.29
52W Low
$3.57
Quality & Growth
ROE
1120.5%
ROA
684.8%
Gross Margin
4918.2%
Operating Margin
4600.1%
Revenue Growth YoY
—
Debt / Equity
0.11
AI Fundamental Assessment
P/E ratio of 9.0 (inexpensive relative to a 15-40x range); Price-to-book of 1.8x; PEG ratio of 0.0 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 11.2%; Return on assets of 6.8%; Net margin of 21.2%; Gross margin of 49.2%; Current ratio of 1.58 (healthy short-term liquidity); Debt-to-equity of 0.11; Free cash flow per share is positive (0.13); Most recent quarter missed estimates by 69.9%; EPS growth decelerating (+72.7% -> -84.2% QoQ); Analyst estimates falling over recent quarters
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