LONDON, UK / ACCESSWIRE / December 22, 2017 / Active-Investors.com has just released a free earnings report on B2Gold Corp. (NYSE: BTG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=BTG. B2Gold posted its third quarter fiscal 2017 (Q3 FY17) results on November 06, 2017. The fastest-growing gold producer saw its Otjikoto mine achieved record quarterly production. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, B2Gold most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
B2Gold saw revenues of $154.11 million in Q3 FY17 compared to $193.05 million in Q3 FY16, declining by 20.17% on a y-o-y basis. The reported quarter’s revenue numbers’ fell short of analysts’ estimates of $172.50 million.
B2Gold reported consolidated gold production of 135,628 ounces, including 6,340 ounces of pre-commercial gold in-circuit production from Fekola, exceeding budget by 2% and reforecast production by 15%. The Company posted consolidated gold revenue of $154.1 million on sales of 121,597 ounces at an average price of $1,267 per ounce.
During Q3 FY17, B2Gold posted consolidated cash operating costs of $563 per ounce, $28 per ounce or 5% below budget. The Company’ consolidated all-in sustaining costs were of $921 per ounce, $66 per ounce or 8% above budget, due to the timing of capital expenditures.
B2Gold’s gross profit was $37.24 million in the reported quarter compared to $71.03 million in Q3 FY16, showing a decrease of 47.58%. The Company’s operating income reflected a decline of 55.62% to $21.25 million in Q3 FY17 compared to $47.89 million. The Otjikoto mine achieved record quarterly production of 55,151 ounces of gold.
B2Gold had a net income of $12.39 million in Q3 FY17 compared to $35.68 million in Q3 FY16. The Company’s diluted earnings were $0.00 per share in the reported quarter compared to $0.04 per share in Q3 FY16. B2Gold’s adjusted earnings were $0.01 per share in Q3 FY17 which beat Wall Street’s estimates of breakeven earnings.
B2Gold’s Segment Details
The Otjikoto Project segment had external gold revenues of $64.52 million compared to $60.06 million in Q3 FY16, advancing by 7.43% on a y-o-y basis. This segment’s net income was $6.88 million in the reported quarter compared to $25.15 million in Q3 FY16, reflecting a decline of 72.63% on a y-o-y basis.
The Masbate Mine segment had external gold revenues of $56.49 million in Q3 FY17 compared to $75.65 million in Q3 FY16, decreasing by 25.33% on a y-o-y basis. Net income of this segment was $13.10 million in the reported quarter compared to $30.21 million in Q3 FYF16, declining by 56.64%.
The Libertad Mine segment posted external gold revenues of $16.72 million in Q3 FY17 compared to $41.89 million in Q3 FY16, showing a deep decline of 60.10%. The segment’s net loss was $3.88 million in Q3 FY17 compared to net income of $3.17 million in Q3 FY16.
The Company’s Limon Mine segment had external gold revenues of $1.37 million in Q3 FY17 compared to $15.45 million in Q3 FY16, declining steeply by 91.11%. The segment’s net loss was $3.64 million in Q3 FY17 compared to a net income of $0.05 million in Q3 FY16.
Cash Matters
B2Gold had cash and cash equivalents of $89.71 million in Q3 FY17 compared to $123.76 million in Q3 FY16. The cash inflow from operating activities was $41.77 million in Q3 FY17 compared to $90.32 million in Q3 FY16. B2Gold held long-term debt of $634.42 million on September 30, 2017, compared to $472.85 million on September 30, 2016.
Outlook
In full fiscal 2018, B2Gold expects per annum gold sales revenues of approximately $1.20 billion with cash flow from operations of approximately $0.50 billion. The Company also anticipates its annual gold production to increase significantly in the range of $0.93 million – $0.98 million ounces with cash operating costs and AISC to decrease $525.00 per ounce and $800.00 per ounce respectively.
Stock Performance Snapshot
December 21, 2017 – At Thursday’s closing bell, B2Gold’s stock marginally rose 0.35%, ending the trading session at $2.89.
Volume traded for the day: 2.30 million shares.
Stock performance in the last month – up 9.47%; previous three-month period – up 9.47%; past twelve-month period – up 36.32%; and year-to-date – up 21.94%
After yesterday’s close, B2Gold’s market cap was at $2.83 billion.
Price to Earnings (P/E) ratio was at 85.00.
The stock is part of the Basic Materials sector, categorized under the Gold industry. This sector was up 1.5% at the end of the session.
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