B2Gold Revenue Rises 118% to $1.16 Billion
The gold producer reported a 118% increase in consolidated gold revenue for the first quarter of 2026, driven by a 45% rise in average realized gold prices.
B2Gold Corp. (BTG), a Vancouver-based gold producer, reported consolidated gold revenue of $1.16 billion for the first quarter of 2026, compared to $532 million in the first quarter of 2025. The company attributed the 118% increase to a 45% rise in the average realized gold price, which reached $4,193 per ounce, and a 50% increase in gold ounces sold.
Gold sales for the period totaled 276,346 ounces, up from 183,998 ounces in the prior-year period. This volume growth was driven by higher production, including contributions from the Goose Mine, and a drawdown of year-end inventory at the Fekola Mine. Consolidated gold production for the first quarter of 2026 was 237,763 ounces, representing a 23% increase over the first quarter of 2025.
Net income for the period was $205.6 million, compared to $62.6 million for the same period in 2025. Basic earnings per share rose to $0.15 a share from $0.04 a share. The company reported a gross profit of $609.8 million, while operating income reached $567.7 million.
Cash operating costs for the first quarter of 2026 were $1,005 per gold ounce produced, which was 21% higher than the first quarter of 2025. However, this figure was 17% lower than the company's budget.
Financial activity during the quarter included the repurchase and cancellation of common shares totaling $79.6 million. The company also paid $26.3 million in dividends. Cash and cash equivalents at the end of the period were $479.4 million, up from $330.1 million at the end of the first quarter of 2025.
B2Gold projects total consolidated gold production between 820,000 and 970,000 ounces in 2026. The company expects cash operating costs between $1,155 and $1,280 per ounce and all-in sustaining costs between $2,400 and $2,580 per ounce for the year.