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B2Gold (BTG) to Report Q1 Earnings: What's in the Offing?

B2Gold Corp BTG is slated to report first-quarter 2020 results on May 5, after the closing bell.

Q1 Estimates

The Zacks Consensus Estimate for B2Gold’s first-quarter earnings is currently pegged at 11 cents, suggesting growth of 175% from the year-ago quarter. The estimates have been revised downwards by 10% over the past 30 days.

A Sneak Peek at Q4

In the last reported quarter, B2Gold delivered adjusted earnings per share of 7 cents, in line with the Zacks Consensus Estimate. B2Gold generated revenues of $314 million in the fourth quarter, reflecting year-over-year growth of 36% on account of higher average realized gold price and gold ounces sold.

In the trailing four quarters, the company surpassed the consensus mark twice, while matching the same on the other two occasions. It has a trailing four-quarter positive earnings surprise of 23.81%, on average.

B2Gold Corp Price and EPS Surprise

Factors to Note

In the first quarter, the company recorded consolidated gold production of 250,632 ounces, 7% above the budget level. The company witnessed solid performances across its Fekola, Masbate and Otjikoto mine operations outpacing the respective targeted production for the quarter. Sales volume was 239,500 ounces in the first quarter compared with 203,400 ounces in the prior-year quarter.

In addition, gold prices were up in the January-March period, courtesy of the coronavirus outbreak, slowdown in manufacturing activity and concerns regarding global economic growth. Impact of rising gold prices and higher units of gold sold are likely to get reflected in the first-quarter results. Further, the company’s ongoing cost control efforts are likely to have contributed to the to-be-reported quarter’s performance.

Earnings Whispers

Our proven model does not conclusively predict a beat for B2Gold this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for B2Gold is 0.00%.

Zacks Rank: The company currently carries a Zacks Rank #1.

Price Performance

B2Gold’s shares have gained 95.9% in the past year, compared with the industry’s growth of 82.9%.

Stocks That Warrant a Look

Here are a few stocks which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:

Silver Wheaton Corp WPM has an Earnings ESP of +2.58% and a Zacks Rank of 2, currently. You can see the complete list of today's Zacks #1 Rank stocks here.

Domtar Corporation UFS, a Zacks Ranked #3 stock, has an Earnings ESP of +39.81%.

Commercial Metals Company CMC currently has a Zacks Rank #3 and an Earnings ESP of +12.85%.

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