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National Bank of Canada Lifts B2Gold's Price Target to C$10.70 from C$10

BY MT Newswires | ECONOMIC | 12:02 PM EDT

12:02 PM EDT, 05/12/2026 (MT Newswires) -- National Bank of Canada on Monday maintained its outperform rating on the shares of B2Gold (BTG) while raising its price target to C$10.70 from $10.00 following the miner's first-quarter results.

The higher price target reflects a 2.7% increase in the bank's net asset value per share to $11.70 from $11.39.

B2Gold's (BTG) first-quarter results included a financial beat as the Fekola, Goose, Masbate and Otjikoto mines all delivered better-than-expected production and costs, National Bank said.

This drove the company's free cash flow higher quarter over quarter, the bank said.

B2Gold (BTG) is trading at P/NAV of 0.65x (EDV 0.87x) and P/CF26 of 5.2x (EDV 5.4x), according to National Bank.

Price: 7.22, Change: -0.14, Percent Change: -1.90

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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