B2Gold Corp
TSX:BTO

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B2Gold Corp
TSX:BTO
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Price: 4.99 CAD -0.6% Market Closed
Market Cap: 6.6B CAD
Section:
Relative Value
Relative Value
Valuation Multiples
Multiples Across Competitors
See Also

Relative Value

The Relative Value of one BTO stock under the Base Case scenario is 6.46 CAD. Compared to the current market price of 4.99 CAD, B2Gold Corp is Undervalued by 23%.

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
6.46 CAD
Undervaluation 23%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

2.4
P/S
P/S
Price to Sales
2.4
vs History
20
vs Industry
49
Median 3Y
2
Median 5Y
2.1
Industry
1.8
Forward
1.6
More Details
Negative
P/E
P/E
Price to Earnings
N/A
vs History
vs Industry
0
Median 3Y
9.2
Median 5Y
8.6
Industry
16
Forward
8.3
More Details
13.9
P/OCF
P/OCF
Price to OCF
13.9
vs History
0
vs Industry
26
Median 3Y
5.3
Median 5Y
5.7
Industry
9.4
More Details
Negative
P/FCFE
P/FCFE
Price to FCFE
N/A
vs History
vs Industry
12
Median 3Y
18.9
Median 5Y
16
Industry
15.8
More Details
1.5
P/B
P/B
Price to Book Value
1.5
vs History
23
vs Industry
42
Median 3Y
1.2
Median 5Y
1.3
Industry
1.6
More Details
2.5
EV/S
EV/S
Enterprise Value to Sales
2.5
vs History
15
vs Industry
48
Median 3Y
1.8
Median 5Y
1.9
Industry
2.1
Forward
1.6
More Details
6.4
EV/GP
EV/GP
Enterprise Value to Gross Profit
6.4
vs History
11
vs Industry
42
Median 3Y
4.8
Median 5Y
4.7
Industry
7.2
More Details
4.8
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
4.8
vs History
12
vs Industry
26
Median 3Y
3.4
Median 5Y
3.4
Industry
10.4
Forward
3
More Details
7.5
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
7.5
vs History
11
vs Industry
22
Median 3Y
5.7
Median 5Y
5.5
Industry
13.3
Forward
5.1
More Details
14
EV/OCF
EV/OCF
Enterprise Value to OCF
14
vs History
0
vs Industry
27
Median 3Y
4.8
Median 5Y
5
Industry
10.8
More Details
Negative
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
N/A
vs History
vs Industry
14
Median 3Y
13.8
Median 5Y
10.4
Industry
14.4
More Details
1.1
EV/IC
EV/IC
Enterprise Value to IC
1.1
vs History
50
vs Industry
48
Median 3Y
0.9
Median 5Y
1.1
Industry
1.4
More Details

Multiples Across Competitors

BTO Competitors Multiples
B2Gold Corp Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
B2Gold Corp
TSX:BTO
6.6B CAD 2.4 -7.8 4.8 7.5
RU
Polyus PJSC
LSE:PLZL
70.4T USD 11 511.1 35 824.8 19 763.5 22 679.9
ZA
Gold Fields Ltd
JSE:GFI
393.2B Zac 0 0 0 0
ZA
Harmony Gold Mining Company Ltd
JSE:HAR
157.7B Zac 0 0 0 0
CN
Zijin Mining Group Co Ltd
SSE:601899
489.3B CNY 1.6 13.6 11.5 11.5
US
Newmont Corporation
NYSE:NEM
65.2B USD 3.3 12.9 7.2 9.9
CA
Agnico Eagle Mines Ltd
TSX:AEM
83.6B CAD 6.8 25.8 11.4 16.2
CA
Wheaton Precious Metals Corp
TSX:WPM
55.7B CAD 27.8 65.5 38.9 52.4
CA
Barrick Gold Corp
TSX:ABX
49.5B CAD 2.7 15.5 5.4 7.5
CA
Franco-Nevada Corp
TSX:FNV
44B CAD 26.1 51.8 29.6 38.2
RU
Polyus PAO
MOEX:PLZL
2.4T RUB 3.4 7.8 6 6.6
P/S Multiple
Revenue Growth P/S to Growth
CA
B2Gold Corp
TSX:BTO
Average P/S: 1 287.3
2.4
17%
0.1
RU
P
Polyus PJSC
LSE:PLZL
11 511.1
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
13%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
13%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
1.6
9%
0.2
US
Newmont Corporation
NYSE:NEM
3.3
1%
3.3
CA
Agnico Eagle Mines Ltd
TSX:AEM
6.8
7%
1
CA
Wheaton Precious Metals Corp
TSX:WPM
27.8
15%
1.9
CA
Barrick Gold Corp
TSX:ABX
2.7
10%
0.3
CA
Franco-Nevada Corp
TSX:FNV
26.1
7%
3.7
RU
Polyus PAO
MOEX:PLZL
3.4
N/A N/A
P/E Multiple
Earnings Growth PEG
CA
B2Gold Corp
TSX:BTO
Average P/E: 4 502.2
Negative Multiple: -7.8 		N/A N/A
RU
P
Polyus PJSC
LSE:PLZL
35 824.8
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
24%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
43%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
13.6
17%
0.8
US
Newmont Corporation
NYSE:NEM
12.9
15%
0.9
CA
Agnico Eagle Mines Ltd
TSX:AEM
25.8
9%
2.9
CA
Wheaton Precious Metals Corp
TSX:WPM
65.5
20%
3.3
CA
Barrick Gold Corp
TSX:ABX
15.5
15%
1
CA
Franco-Nevada Corp
TSX:FNV
51.8
21%
2.5
RU
Polyus PAO
MOEX:PLZL
7.8
N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
B2Gold Corp
TSX:BTO
Average EV/EBITDA: 2 208.7
4.8
20%
0.2
RU
P
Polyus PJSC
LSE:PLZL
19 763.5
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
17%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
27%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
11.5
26%
0.4
US
Newmont Corporation
NYSE:NEM
7.2
6%
1.2
CA
Agnico Eagle Mines Ltd
TSX:AEM
11.4
9%
1.3
CA
Wheaton Precious Metals Corp
TSX:WPM
38.9
18%
2.2
CA
Barrick Gold Corp
TSX:ABX
5.4
16%
0.3
CA
Franco-Nevada Corp
TSX:FNV
29.6
17%
1.7
RU
Polyus PAO
MOEX:PLZL
6
N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
B2Gold Corp
TSX:BTO
Average EV/EBIT: 2 536.6
7.5
11%
0.7
RU
P
Polyus PJSC
LSE:PLZL
22 679.9
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
18%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
34%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
11.5
19%
0.6
US
Newmont Corporation
NYSE:NEM
9.9
7%
1.4
CA
Agnico Eagle Mines Ltd
TSX:AEM
16.2
12%
1.3
CA
Wheaton Precious Metals Corp
TSX:WPM
52.4
16%
3.3
CA
Barrick Gold Corp
TSX:ABX
7.5
14%
0.5
CA
Franco-Nevada Corp
TSX:FNV
38.2
14%
2.7
RU
Polyus PAO
MOEX:PLZL
6.6
N/A N/A

See Also

Summary
BTO intrinsic value, competitors valuation, and company profile.
DCF Valuation
BTO stock valuation using Discount Cash Flow valuation method.
Relative Valuation
BTO stock valuation using valuation multiples.
Wall Street Estimates
BTO price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
BTO stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
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