B2GOLD Corp (BTG)
At December 31, 2025 it held $380.4M in cash against $598.3M of debt. Its latest periodic report to the SEC is the annual report (Canadian issuer) (40-F) filed on March 11, 2026.
Key facts about B2GOLD Corp
- Net worth
- B2GOLD Corp has a market value (market cap) of $7B at the latest share price, and shareholders' equity of $3.6B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Cash flow
- In fiscal 2025 operations brought in $895.8M of cash.
- Latest report
- The latest periodic report (annual report (Canadian issuer), 40-F) was filed with the SEC on March 11, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What B2GOLD Corp does
B2GOLD Corp is registered with the SEC under industry code SIC 1040 (Gold and Silver Ores). Its shares trade on NYSE under the ticker BTG.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | n/a | $401.9M | $0.28 | n/a |
| 2024 | n/a | -$629.9M | -$0.48 | n/a |
| 2023 | n/a | $10.1M | $0.01 | n/a |
| 2022 | n/a | $252.9M | $0.24 | n/a |
| 2021 | n/a | $420.1M | $0.40 | n/a |
| 2020 | n/a | $628.1M | $0.59 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Dividends
It paid out $103.4M in cash dividends, 26% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | n/a | $103.4M | 26% |
| 2024 | n/a | $184.6M | n/a |
| 2023 | n/a | $186.7M | 1,849% |
| 2022 | n/a | $170.6M | 67% |
| 2021 | n/a | $168.4M | 40% |
| 2020 | n/a | $115.3M | 18% |
Latest SEC filings
What B2GOLD Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026
- November 4, 2026
- October 15, 2026
- September 28, 2026
- August 31, 2026
- August 7, 2026
- August 7, 2026
- August 7, 2026
- August 5, 2026
- July 13, 2026
Insider trades
What the people running B2GOLD Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns BTG
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Van Eck Associates Corp13G, passive | 7.13% | May 15, 2026 |
| Pale Fire Capital SICAV a.s.13G, passive with 4 related filers | 5.2% | February 12, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 303 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Van Eck Associates Corp | 91,117,587 | -4,251,647 |
| Pale Fire Capital SE | 64,560,777 | -5,179,356 |
| L1 Capital Pty Ltd | 48,837,914 | new |
| American Century Companies Inc | 39,292,636 | +4,315,060 |
| Vanguard Capital Management LLC | 36,883,452 | -72,919 |
| Two Sigma Investments, LP | 36,461,952 | -6,601,948 |
| Dimensional Fund Advisors LP | 35,304,688 | +1,827,386 |
| Connor, Clark & Lunn Investment Management Ltd. | 28,768,407 | +12,896,283 |
| Millennium Management LLC | 24,801,181 | +1,855,110 |
| First Eagle Investment Management, LLC | 19,405,368 | +9,702,684 |
| D. E. Shaw & Co., Inc. | 19,115,687 | -9,124,326 |
| Goldman Sachs Group Inc | 18,546,048 | -4,156,938 |
| Deutsche Bank AG\ | 17,101,670 | +5,556 |
| Morgan Stanley | 16,339,149 | +4,277,349 |
| Norges Bank | 14,673,503 | new |
| Condire Management, LP | 11,571,607 | 0 |
| Vanguard Fiduciary Trust Co | 11,168,147 | -84,495 |
| TD Asset Management Inc | 10,728,623 | +5,317,455 |
| Mackenzie Financial Corp | 7,187,954 | +34,533 |
| FIL Ltd | 10,163,503 | +86,418 |
Insiders
Questions about BTG
What does B2GOLD Corp do?
B2GOLD Corp is a company in the Basic materials sector, listed on NYSE as BTG. Its shares trade on NYSE under the ticker BTG.
What is B2GOLD Corp's net worth?
B2GOLD Corp has a market value (market cap) of $7B at the latest share price, and shareholders' equity of $3.6B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is B2GOLD Corp profitable?
Yes. In fiscal 2025 it reported net income of $401.9M.
When did B2GOLD Corp last report?
Its most recent periodic report is the annual report (Canadian issuer) (40-F) filed on March 11, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from November 5, 2026.
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Where the numbers come from
Financial figures are the values B2GOLD Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.