B2Gold Corp. Stock Falls Despite Higher Gold Prices

Shares Dip 10% After Second-Quarter Results

Revenue Up 4.6%

Shares of B2Gold Corp. (BTG) have dipped 10% since reporting second-quarter 2024 results on August 8. The company reported revenue of $492.57 million, up 4.6% over the same period last year. This increase was primarily driven by higher gold prices, which averaged $1,830 per ounce during the quarter.

For the quarter, B2Gold reported earnings per share of $0.06, which was in line with analyst estimates. The company's all-in sustaining costs (AISC) were $994 per ounce, up from $886 per ounce in the second quarter of 2023.

Despite the higher costs, B2Gold's earnings were boosted by higher gold prices. The company's average realized gold price was $1,851 per ounce, up from $1,694 per ounce in the second quarter of 2023. This increase in gold prices helped to offset the higher costs, resulting in a modest increase in earnings.

Looking ahead, B2Gold is expected to continue to benefit from higher gold prices. The company is forecasting gold prices to average $1,800 per ounce for the rest of the year. This would be a significant increase from the $1,694 per ounce average in 2023.

The company's strong earnings performance and positive outlook for gold prices should support the stock price in the coming months. Investors should consider buying B2Gold shares on the dip for potential upside.