B2Gold Corp. (TSX: BTO) announced Wednesday its quarterly financial performance for Q2 2021, highlighting gold revenue of US$363.0 million. The report also included the previously announced production results for the quarter that saw gold production of 211,612 ounces.
The company’s quarterly revenue came from 200,071 gold ounces sold at an average realized price of $1,814 per ounce. This is a decline from Q2 2020’s gold revenue of US$442.0 million from selling 257,100 ounces at US$1,719 per ounce.
Further down the line, the firm’s profit margin for the quarter came in at 35.3%, down from last year’s 53.9%. B2Gold’s net income for Q2 2021 also declined to US$74.0 million from Q2 2020’s US$138.0 million. The quarterly net income translates to US$0.06 earnings per diluted share.
The mining firm ended the quarter with US$382.1 million in cash and cash equivalents compared to its beginning quarter balance of US$512.6 million. The decrease is largely impacted by expenditure recorded in changes to non-cash working capital worth US$146.1 million.
With a gold production of 432,256 ounces for the first half of the year, the Vancouver-based gold producer reiterated that it is on track to meet the previously announced full-year 2021 production guidance of 970,000-1,030,000 gold ounces.
The company is also currently working on its 2021 development projects, including earmarking US$69 million for a feasibility study and a resource estimate on its 50%-owned Gramalote project, and budgeting US$5.4 million to develop the Kiaka project.
B2Gold Corp. last traded at $5.13 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
