B2Gold Corp. (TSX: BTO) announced Tuesday evening its quarterly financial performance for Q3 2021, highlighting gold revenue of US$510.9 million. The report also included the previously announced production results for the quarter that saw gold production of 310,261 ounces.
The company’s quarterly revenue came from the previously reported gold sales of 286,650 ounces at an average realized price of US$1,782 per ounce. This is an increase from Q2 2021’s gold revenue of US$363.0 million from selling 200,071 ounces at US$$1,814 per ounce, and from Q3 2020’s revenue of US$487.2 million.
Further down the line, the firm’s profit margin for the quarter came in at 46.0%, up from last quarter’s 35.3% but down from last year’s 55.8%. The quarterly net income increased to US$134.9 million from Q2 2021’s US$74.0 million but declined from Q3 2020’s US$277.0 million. The quarterly net income translates to US$0.12 earnings per diluted share.
The mining firm ended the quarter with US$546.5 million in cash and cash equivalents compared to its beginning quarter balance of US$382.1 million. This puts the balance of current assets at US$975.5 million while current liabilities came in at US$199.5 million.
The Vancouver-based gold producer has previously announced that it is increasing the full-year 2021 production guidance to 1,015,000 – 1,055,000 gold ounces. For the first nine months of the year, the firm has already produced a total of 310,261 gold ounces.
B2Gold Corp. last traded at $5.15 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.
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