B2Gold Corp
TSX:BTO

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B2Gold Corp
TSX:BTO
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Price: 3.68 CAD -1.6% Market Closed
Market Cap: 4.8B CAD
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Relative Value

The Relative Value of one BTO stock under the Base Case scenario is 5.73 CAD. Compared to the current market price of 3.68 CAD, B2Gold Corp is Undervalued by 36%.

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
5.73 CAD
Undervaluation 36%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

1.8
P/S
P/S
Price to Sales
1.8
vs History
85
vs Industry
49
Median 3Y
2
Median 5Y
2.2
Industry
1.8
Forward
1.7
More Details
Negative
P/E
P/E
Price to Earnings
N/A
vs History
vs Industry
0
Median 3Y
9.5
Median 5Y
9.5
Industry
15.8
Forward
11.5
More Details
3.5
P/OCF
P/OCF
Price to OCF
3.5
vs History
88
vs Industry
28
Median 3Y
5.4
Median 5Y
5.7
Industry
9.4
More Details
16.9
P/FCFE
P/FCFE
Price to FCFE
16.9
vs History
47
vs Industry
15
Median 3Y
18.9
Median 5Y
17.5
Industry
15.4
More Details
1.1
P/B
P/B
Price to Book Value
1.1
vs History
71
vs Industry
52
Median 3Y
1.2
Median 5Y
1.4
Industry
1.5
More Details
1.7
EV/S
EV/S
Enterprise Value to Sales
1.7
vs History
73
vs Industry
53
Median 3Y
1.8
Median 5Y
1.9
Industry
2.2
Forward
1.6
More Details
4.3
EV/GP
EV/GP
Enterprise Value to Gross Profit
4.3
vs History
61
vs Industry
50
Median 3Y
4.6
Median 5Y
4.7
Industry
7.4
More Details
3.2
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
3.2
vs History
50
vs Industry
25
Median 3Y
3.3
Median 5Y
3.4
Industry
10.4
Forward
3.1
More Details
5.3
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
5.3
vs History
49
vs Industry
17
Median 3Y
5.3
Median 5Y
5.5
Industry
13.1
Forward
13.2
More Details
3.3
EV/OCF
EV/OCF
Enterprise Value to OCF
3.3
vs History
87
vs Industry
31
Median 3Y
4.8
Median 5Y
5.1
Industry
10.6
More Details
156
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
156
vs History
3
vs Industry
14
Median 3Y
14
Median 5Y
12.3
Industry
13.5
More Details
0.8
EV/IC
EV/IC
Enterprise Value to IC
0.8
vs History
87
vs Industry
57
Median 3Y
1
Median 5Y
1.2
Industry
1.3
More Details

Multiples Across Competitors

BTO Competitors Multiples
B2Gold Corp Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
B2Gold Corp
TSX:BTO
4.8B CAD 1.8 -4.6 3.2 5.3
RU
Polyus PJSC
LSE:PLZL
70.4T USD 15 191.9 47 280.3 26 083.2 29 932.1
ZA
Gold Fields Ltd
JSE:GFI
232.3B Zac 0 0 0 0
ZA
Harmony Gold Mining Company Ltd
JSE:HAR
100.9B Zac 0 0 0 0
CN
Zijin Mining Group Co Ltd
SSE:601899
410.9B CNY 1.4 14 12.2 12.2
US
Newmont Corporation
NYSE:NEM
45.9B USD 2.7 -37.8 9.1 16.7
CA
Agnico Eagle Mines Ltd
TSX:AEM
59.1B CAD 5.3 41.2 9.9 15.5
CA
Barrick Gold Corp
TSX:ABX
40.7B CAD 2.3 17.6 5.3 8.3
CA
Wheaton Precious Metals Corp
TSX:WPM
38.8B CAD 22.4 44.7 29.2 40.1
CA
Franco-Nevada Corp
TSX:FNV
32.7B CAD 21 -37.9 23.5 31.5
RU
Polyus PAO
MOEX:PLZL
1.8T RUB 3.4 7.2 6.2 7
P/S Multiple
Revenue Growth P/S to Growth
CA
B2Gold Corp
TSX:BTO
Average P/S: 1 694.7
1.8
33%
0.1
RU
P
Polyus PJSC
LSE:PLZL
15 191.9
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
53%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
17%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
1.4
30%
0
US
Newmont Corporation
NYSE:NEM
2.7
67%
0
CA
Agnico Eagle Mines Ltd
TSX:AEM
5.3
40%
0.1
CA
Barrick Gold Corp
TSX:ABX
2.3
42%
0.1
CA
Wheaton Precious Metals Corp
TSX:WPM
22.4
58%
0.4
CA
Franco-Nevada Corp
TSX:FNV
21
32%
0.7
RU
Polyus PAO
MOEX:PLZL
3.4
N/A N/A
P/E Multiple
Earnings Growth P/E to Growth
CA
B2Gold Corp
TSX:BTO
Average P/E: 7 900.8
Negative Multiple: -4.6
5 305%
N/A
RU
P
Polyus PJSC
LSE:PLZL
47 280.3
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
192%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
99%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
14
102%
0.1
US
Newmont Corporation
NYSE:NEM
Negative Multiple: -37.8 N/A N/A
CA
Agnico Eagle Mines Ltd
TSX:AEM
41.2
12%
3.5
CA
Barrick Gold Corp
TSX:ABX
17.6
163%
0.1
CA
Wheaton Precious Metals Corp
TSX:WPM
44.7
54%
0.8
CA
Franco-Nevada Corp
TSX:FNV
Negative Multiple: -37.9 N/A N/A
RU
Polyus PAO
MOEX:PLZL
7.2
N/A N/A
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
B2Gold Corp
TSX:BTO
Average EV/EBITDA: 2 909.1
3.2
10%
0.3
RU
P
Polyus PJSC
LSE:PLZL
26 083.2
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
63%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
49%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
12.2
140%
0.1
US
Newmont Corporation
NYSE:NEM
9.1
247%
0
CA
Agnico Eagle Mines Ltd
TSX:AEM
9.9
54%
0.2
CA
Barrick Gold Corp
TSX:ABX
5.3
70%
0.1
CA
Wheaton Precious Metals Corp
TSX:WPM
29.2
76%
0.4
CA
Franco-Nevada Corp
TSX:FNV
23.5
31%
0.8
RU
Polyus PAO
MOEX:PLZL
6.2
N/A N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
CA
B2Gold Corp
TSX:BTO
Average EV/EBIT: 3 341
5.3
30%
0.2
RU
P
Polyus PJSC
LSE:PLZL
29 932.1
N/A N/A
ZA
G
Gold Fields Ltd
JSE:GFI
Not Available
93%
N/A
ZA
H
Harmony Gold Mining Company Ltd
JSE:HAR
Not Available
46%
N/A
CN
Zijin Mining Group Co Ltd
SSE:601899
12.2
95%
0.1
US
Newmont Corporation
NYSE:NEM
16.7
912%
0
CA
Agnico Eagle Mines Ltd
TSX:AEM
15.5
62%
0.3
CA
Barrick Gold Corp
TSX:ABX
8.3
106%
0.1
CA
Wheaton Precious Metals Corp
TSX:WPM
40.1
84%
0.5
CA
Franco-Nevada Corp
TSX:FNV
31.5
14%
2.3
RU
Polyus PAO
MOEX:PLZL
7
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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