B2Gold Corp is an international, low-cost, senior gold mining company. It has three operating open-pit gold mines in Mali, Namibia, and the Philippines and numerous exploration projects across four continents. Other significant assets include the Gramalote and Kiaka gold projects. The company focuses on acquiring and developing interests in mineral properties with a primary focus on gold deposits as gold production forms all its revenue. There is no dependence on a particular purchaser because the gold is sold into a global market. The company's reportable operating segments include its mining operations and development projects, namely Fekola; Masbate; Otjikoto; the Goose Project, and other mineral properties; and corporate and other.

Financial Strength

8/10

Name	Current	Vs Industry
Cash-To-Debt	1.6
Equity-to-Asset	0.78
Debt-to-Equity	0.05
Debt-to-EBITDA	0.3
Interest Coverage	48.22
Piotroski F-Score	5/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	3	Distress Grey Safe
Beneish M-Score	-2.63	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

6/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	-1.1
	3-Year EBITDA Growth Rate	-21.3
	3-Year EPS without NRI Growth Rate	-26.2
	3-Year Book Growth Rate	7.8
	Future 3-5Y Total Revenue Growth Rate	2.22

Momentum Rank

2/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	52.09
	9-Day RSI	47.5
	14-Day RSI	47.89
	6-1 Month Momentum %	-20.06
	12-1 Month Momentum %	-36.93

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	2.27
	Quick Ratio	1.16
	Cash Ratio	0.98
	Days Inventory	108.44
	Days Sales Outstanding	5.91
	Days Payable	45.63

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	6.11
	Dividend Payout Ratio	0.83
	3-Year Dividend Growth Rate	15.1
	Forward Dividend Yield %	6.11
	5-Year Yield-on-Cost %	6.1
	3-Year Average Share Buyback Ratio	-7.4
	Shareholder Yield %	5.31

Profitability Rank

7/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	40.34
	Operating Margin %	34.69
	Net Margin %	0.55
	FCF Margin %	-4.77
	ROE %	0.3
	ROA %	0.24
	ROIC %	2.4
	ROC (Joel Greenblatt) %	10.63
	ROCE %	8.11
	Years of Profitability over Past 10-Year	8

GF Value Rank

9/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	132.59
	Forward PE Ratio	9.88
	PE Ratio without NRI	13.77
	Shiller PE Ratio	36.61
	PEG Ratio	4.75
	PS Ratio	1.69
	PB Ratio	0.91
	Price-to-Tangible-Book	0.91
	Price-to-Operating-Cash-Flow	4.54
	EV-to-EBIT	9.98
	EV-to-EBITDA	5.24
	EV-to-Forward-EBITDA	4.89
	EV-to-Revenue	1.73
	EV-to-Forward-Revenue	1.81
	EV-to-FCF	-36.71
	Price-to-Projected-FCF	0.56
	Price-to-Median-PS-Value	0.58
	Price-to-Peter-Lynch-Fair-Value	2.1
	Price-to-Graham-Number	0.75
	Earnings Yield (Greenblatt) %	10.02
	FCF Yield %	-2.63
	Forward Rate of Return (Yacktman) %	16.07

GF Value: $3.42

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