Post-Earnings Coverage - B2Gold

LONDON, December 8, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings coverage on B2Gold Corp. (NYSE MKT: BTG). On November 14, 2014, the company reported its financial results for Q3 FY14 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on B2Gold Corp. (B2Gold). For Q3 FY14, the company's gold revenue was $114.9 million on 91,282 ounces sold at an average realized price of $1,259 per ounce. At the end of Q3 FY14, B2Gold had a strong cash position of $179 million. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview 

During Q3 FY14, the company's gold revenue was lower than revenue of $128.7 million in Q3 FY13. B2Gold's reported gold revenues fell short of Bloomberg analysts' forecasts of $124.4 million. The decline in gold revenue was primarily attributable to a 9% Y-o-Y decrease in the average realized gold price and timing of gold shipments.  

B2Gold reported a Q3 FY14 net loss of $274.1 million, or $0.39 per basic share, compared to net earnings of $7.9 million, or $0.01 per basic share, in Q3 FY13. Analysts from Bloomberg had expected the company to report net income of $5.0 million. The reported quarter's loss was primarily attributable to the recognition of non-cash impairment charges of $298.4 million, consisting of a $202.1 million non-cash impairment charge for goodwill and a $96.3 million non-cash impairment charge relating to the company's investment in its Gramalote joint venture. On an adjusted basis, the company reported a loss of $4.2 million, or $0.01 per share, compared to adjusted net income of $12.1 million, or $0.02 per share, in Q3 FY13. The company's Q3 FY14 adjusted loss primarily excluded non-cash impairment charges of $298.4 million and a non-cash mark-to-market gain of $31.5 million relating to the overall change in fair value of the company's convertible senior subordinated notes. The decline in adjusted earnings was primarily due to lower gold revenues, as a result of lower realized gold prices and ounces sold, and higher depreciation and depletion charges. The free research on BTG can be downloaded as in PDF format at:

www.Investor-Edge.com/BTGFreeReport

The company is projecting record gold production in FY14 and FY15, but lower than expected production in Q3 FY14 prompted B2Gold to revise its full-year 2014 consolidated production guidance marginally lower than previously guided. Production in FY14 is expected to be in the range of 380,000 to 385,000 ounces of gold with consolidated cash operating costs of $667 to $695 per ounce, compared to the company's previous guidance of 395,000 to 420,000 ounces of gold. With B2Gold's first full year of gold production from the Otjikoto gold project in Namibia scheduled for 2015, the company is expecting FY15 gold production of approximately 500,000 to 540,000 ounces, based on current assumptions. Further, for FY15, the Otjikoto Mine is expected to produce between 140,000 to 150,000 ounces of gold at a cash operating cost in the $500 to $525 per ounce range. Sign up and read the free analyst's notes on BTG at:

www.Investor-Edge.com/BTG-08122014

Stock Performance  

On the day of the earnings release, November 14, 2014, B2Gold's stock rallied 8.23% to end the session at $1.71. Since then, shares of the company have witnessed a mixed momentum. On the last close, Friday, December 05, 2014, the stock finished at $1.71, 2.29% below its previous day's closing price of $1.75, after vacillating between $1.66 and $1.72. A total of 2.12 million shares were traded which was below its three months average volume of 2.86 million shares. Over the last one month, the company's shares have surged 12.50%. However, the stock has witnessed a loss of 7.07% over the previous three trading sessions and 15.35% from the beginning of 2014. Shares in B2Gold's closed below their 50-day and 200-day moving averages of $1.89 and $2.48, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 45.56. Visit Investor-Edge and access the latest research on BTG at:

www.Investor-Edge.com/BTGEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month B2Gold has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on BTG is available at:

www.Investor-Edge.com/BTGInsiderTrading

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