NYSE$BTG
B2Gold Corp · Q2 2025 earnings
Q2 2025 earnings · · After market close · Investor relations
Briefing
B2Gold Q2 2025: $692M gold revenue on 229,454 oz produced, net income $161M as Goose Mine pours first gold
B2Gold Corp. reported Q2 2025 results for the quarter ended June 30, 2025, with consolidated gold revenue of $692 million on sales of 210,384 ounces at an average realized price of $3,290 per ounce, up 41% from Q2 2024 on higher gold prices. Consolidated gold production was 229,454 ounces, 12% higher than Q2 2024 and 5% above budget, including inaugural pre-commercial production from the Goose Mine in Canada. Net income was $161 million ($0.10 diluted EPS attributable) versus a $35 million loss in Q2 2024. Operating income was $330 million and gross profit $351 million. Cash operating costs were $745 per ounce produced, 8% lower than Q2 2024. Fekola, Masbate, and Otjikoto all exceeded budget. Goose Mine is expected to reach commercial production in September 2025.
- Gold revenue $692M on 210,384 oz sold at $3,290/oz (+41% YoY); production 229,454 oz (+12% YoY, +5% vs budget)
- Net income $161M ($0.10 diluted EPS) vs net loss of $35M in Q2 2024; operating income $330M
- Cash operating costs $745/oz produced, 8% lower YoY; all operating mines beat production budget
- Goose Mine achieved inaugural gold pour; commercial production expected September 2025
- First-half gold revenue $1.22B on 394,382 oz sold at $3,104/oz average price
Headline financials
Revenue & EPS history
B2Gold · Revenue · Quarterly
$692M
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2025
-0.1%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-1.7%
Avg return
30 days after
44%
24 / 55 earnings
Positive
+12.2%
Q2 2019
Best reaction
-13.6%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +10.5% | +20.1% | -6.9% | |
| Q4 2025 | -4.7% | +13.2% | -27.1% | |
| Q3 2025 | -5.7% | +2.0% | +13.2% | |
| Q2 2025 | -2.3% | -4.5% | +18.8% | |
| Q4 2024 | +6.8% | +8.4% | +18.6% | |
| Q3 2024 | -7.0% | -14.3% | -20.4% | |
| Q1 2024 | +3.1% | +9.1% | +9.4% | |
| Q4 2023 | -2.8% | -3.6% | -1.2% | |
| Q3 2023 | -6.5% | -8.9% | -4.3% | |
| Q2 2023 | -5.0% | -7.4% | -8.6% | |
| Q1 2023 | +3.9% | +0.7% | -5.9% | |
| Q4 2022 | -0.9% | +3.7% | +15.9% | |
| Q3 2022 | -4.6% | +2.9% | +16.0% | |
| Q2 2022 | -0.3% | +2.0% | -9.0% | |
| Q1 2022 | +6.4% | +2.4% | +1.9% | |
| Q4 2021 | +1.5% | -0.7% | +12.2% | |
| Q3 2021 | +0.7% | +4.0% | -11.2% | |
| Q2 2021 | -6.0% | -9.4% | -4.3% | |
| Q1 2021 | -2.2% | +2.6% | -2.4% | |
| Q4 2020 | -3.6% | -13.8% | -11.4% | |
| Q3 2020 | -2.4% | +5.9% | -13.6% | |
| Q2 2020 | +0.8% | -3.9% | -10.5% | |
| Q1 2020 | +3.2% | +4.6% | -0.8% | |
| Q4 2019 | -13.6% | -7.1% | -28.8% | |
| Q3 2019 | +4.6% | -0.3% | +8.1% | |
| Q2 2019 | +12.2% | +6.4% | +0.9% | |
| Q1 2019 | +0.0% | +1.1% | +10.7% | |
| Q4 2018 | -2.9% | -2.9% | -10.4% | |
| Q3 2018 | -0.8% | -3.9% | +3.9% | |
| Q2 2018 | +2.1% | -4.1% | -6.6% | |
| Q1 2018 | +1.4% | -0.4% | -5.6% | |
| Q4 2017 | +1.7% | -5.2% | -0.3% | |
| Q3 2017 | +5.5% | +3.5% | +2.3% | |
| Q2 2017 | +4.5% | -1.6% | +11.7% | |
| Q1 2017 | -10.0% | -5.8% | +4.6% | |
| Q4 2016 | -2.9% | +0.6% | -6.5% | |
| Q3 2016 | +0.7% | -7.0% | -13.9% | |
| Q3 2014 | -5.4% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q4 2013 | +0.0% | — | — | |
| Q3 2013 | -2.6% | — | — | |
| Q2 2013 | -5.3% | — | — | |
| Q1 2013 | +1.6% | — | — | |
| Q4 2012 | +9.3% | — | — | |
| Q3 2012 | +2.2% | — | — | |
| Q2 2012 | -2.3% | — | — | |
| Q1 2012 | +7.9% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2011 | +4.7% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q1 2011 | +3.4% | — | — | |
| Q4 2010 | -0.4% | — | — | |
| Q3 2010 | -1.0% | — | — | |
| Q2 2010 | -3.2% | — | — | |
| Q1 2010 | -2.3% | — | — |
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