B2Gold (BTG) To Report Q3 Earnings: What's In The Offing?

B2Gold Corp (NYSE:BTG) is slated to report third-quarter 2019 earnings results on Nov 5, after the closing bell.

The company has a mixed earnings track record. B2Gold delivered a positive surprise in one of the trailing four quarters, came in-line in one and lagged in one quarter, the average being 4.17%.

B2Gold Corp Price and EPS Surprise

B2Gold Corp price-eps-surprise | B2Gold Corp Quote

Which Way are Q3 Estimates Headed?

The Zacks Consensus Estimate for the third-quarter earnings is currently pegged at 8 cents per share, indicating a 60% growth from the prior-year quarter. The figure has also moved up 14% over the past 30 days.

Shares of B2Gold have surged 32.6% so far this year compared with the industry’s growth of 53.4%.

A Sneak Peek at Q2

B2Gold Corp reported second-quarter 2019 adjusted earnings per share of 5 cents, surpassing the Zacks Consensus Estimate of 3 cents. The reported figure was flat with the year-ago quarter.

Let’s see, how things are shaping up for this announcement.

Factors to Consider

In the first half of 2019, B2Gold produced 476,879 ounces of gold, 7% above budget. This was driven by solid performances from Fekola, Otjikoto and the Masbate mines, a trend that is likely to have continued in the third quarter as well.

Moreover, gold prices have gained in the July-September period backed by uncertainty in the U.S-China trade front, geopolitical concerns between the United States and the Middle East put together with the Brexit mayhem. Higher production and rising gold prices is expected to get reflected in B2Gold’s top line in the third quarter of 2019.

Consolidated cash operating costs were below budget by $43 per ounce (9%) Consolidated cash costs were low in the third quarter, particularly at Fekola, which is likely to have contributed to the company’s margins and consequently the bottom line.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for B2Gold this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of a positive surprise. But this is not the case here. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.

Earnings ESP: B2Gold has an Earnings ESP of 0.00% as both the Zacks Consensus Estimate and the Most Accurate Estimate are pegged at 8 cents per share.

Zacks Rank: B2Gold carries a Zacks Rank #2.

Stocks That Warrant a Look

Here are a few Basic Materials stocks which you may consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:

Franco-Nevada Corporation (TSX:FNV) has an Earnings ESP of +0.34% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Kinross Gold Corporation (NYSE:KGC) has a Zacks Rank #1 and an Earnings ESP of +2.50%.

WestRock Company (NYSE:WRK) , a Zacks Ranked #3 stock, has an Earnings ESP of +0.06%.

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