10:35 AM EDT, 05/10/2023 (MT Newswires) -- RBC Capital Markets said Tuesday that B2Gold Corp. (BTO.TO)'s first-quarter adjusted EPS of US$0.10 came in above RBC's estimate of US$0.09 and consensus forecast of US$0.07, driven by lower capital spending.
Gold production totaled 251,000 ounces, below RBC's forecast of 255,000 ounces but above consensus forecast of 239,000 ounces.
B2Gold reiterated that it remains on track to meet its 2023 production guidance of 940,000 to 1.0 million ounces.
RBC gave B2Gold a sector perform rating with a US$4.25 price target.
Meanwhile, B2Gold's adjusted EPS beat National Bank of Canada's forecast of US$0.07.
The bank ascribed a positive bias to B2Gold's headline beat and better-than-expected costs.
National Bank gave B2Gold an outperform rating with a $7.25 price target.
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