Post Earnings Coverage as B2Gold’s Q4 Revenues Rose 30% on Record Gold Sales

Upcoming AWS Coverage on Asanko Gold Post-Earnings Results

LONDON, UK / ACCESSWIRE / March 29, 2017 / Active Wall St. announces its post-earnings coverage on B2Gold Corp. (NYSE: BTG). The Company released its fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) earnings on March 16, 2017. The Vancouver, British Columbia-based Company’s quarterly gold revenues surged 30% y-o-y, beating market consensus forecasts. Register with us now for your free membership at:

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One of B2Gold’s competitors within the Gold space, Asanko Gold Inc. (NYSE: AKG), reported on March 16, 2017, its Q4 2016 and full year 2016 operating and financial results. AWS will be initiating a research report on Asanko Gold in the coming days.

Today, AWS is promoting its earnings coverage on BTG; touching on AKG. Get our free coverage by signing up to:

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Earnings Reviewed

During the Q4 FY16, B2Gold reported revenues of $181.19 million compared to $139.01 million in Q4 FY15. Revenues number for Q4 FY16 outperformed market expectations of $174.37 million. The Company attributed the growth in quarterly gold revenues to record gold sales of 151,524 ounces at an average price of $1,196 per ounce in Q4 FY16 compared to gold sales of 127,482 ounces at an average price of $1,090 per ounce in Q4 FY15. Additionally, consolidated gold production during Q4 FY16 was 140,651 ounces, rising 7%, or 9,182 ounces, y-o-y.

The gold mining Company reported net income of $8.08 million, or $0.00 per diluted share, in Q4 FY16 against net loss of $115.09 million, or $0.13 loss per diluted share, in the prior year’s comparable quarter. In Q4 FY16, adjusted net income was $2.5 million, or $0.00 per share, compared to $1.6 million, $0.00 per share, in Q4 FY15. Meanwhile, Wall Street had expected the Company to report adjusted net income of $0.03 per diluted share.

B2Gold’s revenues rose to a record $683.29 million during FY16 from $553.66 million in FY15. The Company’s net income for FY16 was $38.60 million, or $0.04 per diluted share, compared to a net loss of $145.11 million, or $0.16 loss per diluted share, in FY15. Meanwhile, the adjusted earnings for FY16 stood at $99.0 million, or $0.11 per share, versus $13.3 million, or $0.01 per share, in FY15. Furthermore, the Company reported a record annual consolidated gold production in FY16 of 550,423 ounces of gold, up 12%, or 57,158 ounces, y-o-y and achieving revised production guidance range of 535,000 to 575,000 ounces; also surpassing initial guidance range of 510,000 to 550,000 ounces.

Operational Metrics

For the reported quarter, total cost of sales was $138.74 million compared to $117.80 million in Q4 FY15. The Company gross profit for Q4 FY16 was $42.45 million versus $21.21 million in the year ago same period.

The Company’s consolidated cash operating costs for Q4 FY16 was $546 per ounce compared to $527 per ounce in Q4 FY15. The consolidated AISC (all-in sustaining cost) was $877 per ounce in Q4 FY16 versus $807 per ounce in Q4 FY15. Furthermore, the Company reported operating income of $15.18 million in Q4 FY16 against operational loss of $106.07 million in the prior year’s comparable quarter.

Cash Flow and Balance Sheet

In the three months ended December 31, 2016, net cash generated by operating activities rose to $82.34 million from $48.51 million in Q4 FY15. As on December 31, 2016, cash and cash equivalents balances stood at $144.67 million compared to a balance of $85.14 million as on December 31, 2015. Furthermore, the Company’s long-term debt position as on December 31, 2016 was $472.85 million, higher than $451.47 million recorded on December 31, 2015.

Earnings Outlook

In its outlook for full year FY17, the Company expects gold production in the range of 545,000 to 595,000 ounces. In FY17, consolidated cash operating costs are projected to be between $610 and $650 per ounce. Furthermore, consolidated AISC are forecasted to be in the range of $940 and $970 per ounce in FY17.

Stock Performance

On Tuesday, March 28, 2017, the stock closed the trading session at $2.83, dropping 4.71% from its previous closing price of $2.97. A total volume of 7.78 million shares have exchanged hands, which was higher than the 3-month average volume of 6.07 million shares. B2Gold’s stock price surged 33.49% in the last three months, and 62.64% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 19.41%. At Tuesday’s closing price, the stock’s net capitalization stands at $2.73 billion.

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