B2Gold Corp
TSX:BTO

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B2Gold Corp
TSX:BTO
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Price: 6.35 CAD -1.7% Market Closed
Market Cap: 8.5B CAD

Relative Value

The Relative Value of one BTO stock under the Base Case scenario is 11.65 CAD. Compared to the current market price of 6.35 CAD, B2Gold Corp is Undervalued by 46%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

BTO Relative Value
Base Case
11.65 CAD
Undervaluation 46%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
14
vs Industry
49
Median 3Y
2.1
Median 5Y
2.1
Industry
2
Forward
1.9
vs History
6
vs Industry
0
Median 3Y
13.3
Median 5Y
8.5
Industry
18.8
Forward
8.6
vs History
9
vs Industry
26
Median 3Y
5.8
Median 5Y
5.7
Industry
10.9
vs History
22
vs Industry
12
Median 3Y
22
Median 5Y
17.6
Industry
18.4
vs History
7
vs Industry
42
Median 3Y
1.2
Median 5Y
1.3
Industry
2.1
vs History
6
vs Industry
48
Median 3Y
1.9
Median 5Y
1.9
Industry
2.5
Forward
2
vs History
9
vs Industry
42
Median 3Y
5.1
Median 5Y
4.7
Industry
8.3
vs History
6
vs Industry
26
Median 3Y
3.7
Median 5Y
3.4
Industry
12.3
Forward
3.5
vs History
14
vs Industry
22
Median 3Y
6
Median 5Y
5.5
Industry
14.9
Forward
4.3
vs History
9
vs Industry
27
Median 3Y
5.2
Median 5Y
5
Industry
12.4
vs History
vs Industry
14
Median 3Y
13.2
Median 5Y
9.5
Industry
16.8
vs History
25
vs Industry
48
Median 3Y
0.9
Median 5Y
1.1
Industry
1.9

Multiples Across Competitors

BTO Competitors Multiples
B2Gold Corp Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
B2Gold Corp
TSX:BTO
8.4B CAD 2.4 28 4.5 6.2
RU
Polyus PJSC
LSE:PLZL
70.4T USD 11 738.4 36 532.2 20 153.7 23 127.7
ZA
Gold Fields Ltd
JSE:GFI
677.4B Zac 0 0 0 0
ZA
Harmony Gold Mining Company Ltd
JSE:HAR
221.3B Zac 0 0 0 0
CN
Zijin Mining Group Co Ltd
SSE:601899
842.5B CNY 2.6 18.5 16.4 16.4
US
Newmont Corporation
NYSE:NEM
107.1B USD 5 14.9 9 11.5
CA
Agnico Eagle Mines Ltd
TSX:AEM
116.3B CAD 8 24.5 12 15.8
AU
Greatland Gold PLC
ASX:GGP
124.8B AUD 64.9 184.2 132.7 148.9
CA
Barrick Mining Corp
F:ABR0
62.2B EUR 5 20.4 8.7 11.1
CA
Barrick Gold Corp
TSX:ABX
100B CAD 5 20.3 8.7 11.1
CA
Wheaton Precious Metals Corp
TSX:WPM
73.4B CAD 29.1 53.2 38.9 49.5
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
B2Gold Corp
TSX:BTO
Average EV/EBITDA: 2 265
4.5
43%
0.1
RU
P
Polyus PJSC
LSE:PLZL
20 153.7
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
34%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
30%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
16.4
33%
0.5
US
Newmont Corporation
NYSE:NEM
9
24%
0.4
CA
Agnico Eagle Mines Ltd
TSX:AEM
12
27%
0.4
AU
G
Greatland Gold PLC
ASX:GGP
132.7
-5%
N/A
CA
Barrick Mining Corp
F:ABR0
8.7
33%
0.3
CA
Barrick Gold Corp
TSX:ABX
8.7
33%
0.3
CA
Wheaton Precious Metals Corp
TSX:WPM
38.9
32%
1.2
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
B2Gold Corp
TSX:BTO
Average EV/EBIT: 2 599.8
6.2
35%
0.2
RU
P
Polyus PJSC
LSE:PLZL
23 127.7
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
39%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
32%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
16.4
27%
0.6
US
Newmont Corporation
NYSE:NEM
11.5
30%
0.4
CA
Agnico Eagle Mines Ltd
TSX:AEM
15.8
36%
0.4
AU
G
Greatland Gold PLC
ASX:GGP
148.9
-3%
N/A
CA
Barrick Mining Corp
F:ABR0
11.1
43%
0.3
CA
Barrick Gold Corp
TSX:ABX
11.1
43%
0.3
CA
Wheaton Precious Metals Corp
TSX:WPM
49.5
28%
1.8