B2Gold (BTG) Q3 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure · Editorial policy
Key numbers
- Adjusted EPS
- $0.14
- Estimate
- $0.12
- Surprise
- +17.2%
- Revenue (period 2026-09-30)
- $836.5M
- Score at report (before → after)
- 6.7 → 6.7/10
Revenue source: yfinance_provisional (provisional — SEC XBRL not yet filed for this period).
How the report landed
B2Gold (BTG) beat the $0.12 estimate with adjusted EPS of $0.14 — a large 17.2% upside surprise. TrendMatrix's engine moved from Buy (Wait) (6.7/10) to Hold at 6.7/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates BTG Hold at 6.2/10.
2 of the last 4 quarters beat the estimate; this quarter's +17.2% surprise compares with a -3.3% four-quarter average. Next scheduled report: 2027-02-17.
What supports the rating
- V7 flight-to-quality bonus: +0.5 (Q=8.3 in RISK_OFF)
- High-quality business
What argues against it
- Analyst target reached - limited upside remaining
- Sector modifier (Basic Materials): -0.1
- Consecutive earnings misses (2)
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $5.40
- Price target
- $5.52
- Stop
- $5.02
- Upside to target
- +2.2%
- Reward-to-risk
- 0.1:1
At 6.6× trailing and 6.3× forward earnings, consensus estimates imply little change in earnings power.
Model outputs from TrendMatrix’s engine as of 2026-11-07 — shown for context, not personalized investment advice.
BTG at TrendMatrix's latest read
Materials producers report against the commodity cycle — realized-price capture and volume, not the EPS line, are the tells in a quarter like this.
- Industry
- Gold
- Market cap
- $7.11B
- P/E (fwd)
- 6.3
- P/E (ttm)
- 6.6
- 52-week range
- $3.57–$6.29
- Off 52-week high
- 14.1%
- RSI (14)
- 54
- Volume vs avg
- 1.22×
- Score today
- 6.2/10