B2Gold: Earnings Better Than Expected

B2Gold delivered a strong Q1 2026, with all mines exceeding production targets and an adjusted EPS of $0.19 vs. a $0.11 consensus. Q1 all-in sustaining costs were $1,964/oz, well below guidance, and cash flow plus a $325M asset sale boosted cash to ~$700M, supporting buybacks. Despite a $10M fire-related setback at Goose Mine, full-year guidance was maintained, and the long-term ramp to 2027 remains intact.