B2Gold Corp

B2Gold Corp (NYSE AMERICAN: BTG) is an international, low-cost, senior gold mining company. 

Recommendation Rationale – Sell at USD 4.04

• In Q2 FY 2025, BTG’s consolidated all-in sustaining costs were $1,519 per gold ounce sold. This was higher than expected as lower production costs per gold ounce sold as well as lower sustaining capital expenditures were mitigated by the increased gold royalties resulting from higher-than-expected average realized gold price as well as lower than expected ounces sold.
• BTG is exposed to the risks related to the volatility of metal prices, changes in tax laws, the uncertainty of mineral reserve and resource estimates, etc.
• The company’s share price has surpassed its R1 level recommended on July 29, 2025. Therefore, there can be a possible decline from the specified resistance levels.

Considering the current trading levels, risks associated, and volatile market conditions on the back of higher interest rates, a ‘Sell’ rating is assigned to the ’BTG’ at the current market price of USD 4.04 as of Aug 26, 2025 (11.50 am PDT).

B2Gold Corp (NYSE AMERICAN: BTG) is part of Kalkine’s Global Big Money Report.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 26 August 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.