Metals & mining

B2Gold (BTO)

C$7.41 −0.9% on the day·+5.8% in a year·close Oct 13, 2026

Listed on the Toronto Stock Exchange; prices in Canadian dollars. All 218 TSX stocks.

Your signal

Buy61 / 100

Buy: 61 is at or above your Buy line of 60. Trend (+12% vs 200-day) scores 77 and lifts it; Plays in (49%) scores 49 and holds it back.

Every factor in this score has a tested record: each was checked month by month since 2011 on numbers public at the time.

Factor you weight	BTO	Points	Weight	Adds
Plays in	49%	49	40	19.6
Off the high	−11% from its 1-year high	62	30	18.6
Trend	+12% vs 200-day	77	30	23.1

Email me when it flips

Your signal is the one call Be The Puck makes on a stock, and you set it: weight the plays, analysts, P/E, growth, debt, trend and more, and move the Buy and Sell lines. Every page follows your choice. How the score works

All 18 factors for BTO

Factor	BTO	Points	What it is
Plays in	49%	49	The share of the plays you count that hold it now.
Analysts' upside	+29% · 9 analysts	69	How far analysts' average 12-month target sits above the price (3+ analysts). −20% scores 0, +50% full marks; at most 50 while the price is below its 200-day average, since targets lag a falling price.
Analysts' rating	1.8 · buy	62	The analysts' average recommendation: strong buy scores 100, hold or worse 0.
P/E	9.8×	92	Price over the last four quarters' earnings per share. Lower ranks higher; a loss scores 0. Source: Yahoo Finance.
Forward P/E	5.2×	97	Price over next year's expected earnings. Lower ranks higher; an expected loss scores 0. Source: Yahoo Finance.
PEG	0.89	73	P/E divided by expected earnings growth. Lower ranks higher; around 1 is often read as fair for the growth. Source: Yahoo Finance.
Price to sales	1.8×	73	Market value over the last 12 months' revenue. Lower ranks higher. Source: Yahoo Finance.
Price to book	1.7×	82	Price over book value (assets minus debts) per share. Lower ranks higher. Source: Yahoo Finance.
Dividend yield	1.5%	41	Dividends over the last year as a share of the price. Higher ranks higher; no dividend scores 0. Source: Yahoo Finance.
Earnings growth	+185%	91	Earnings per share over the last four quarters against the four before (the latest quarter on a year earlier where filings aren't available). Higher ranks higher. Source: Yahoo Finance.
Revenue growth	+14%	52	Revenue over the last four quarters against the four before (the latest quarter on a year earlier where filings aren't available). Higher ranks higher. Source: Yahoo Finance.
Profit margin	21%	71	Net profit as a share of revenue. Higher ranks higher. Source: Yahoo Finance.
Return on equity	23%	73	Profit as a share of shareholders' equity. Higher ranks higher. Source: Yahoo Finance.
Debt to equity	0.11×	81	Debt against shareholders' equity. Lower ranks higher; negative equity scores 0. Source: Yahoo Finance.
Off the high	−11% from its 1-year high	62	How far the price sits below its highest close of the last year: 100 points at the high, none at 30% or more below. The exit rule: a stock that keeps falling loses points whatever else it has going for it.
Trend	+12% vs 200-day	77	How far the price sits above its 200-day average. Higher ranks higher.
1-year momentum	+6%	39	The price change over the last 12 months. Higher ranks higher.
Low crash exposure	3/10 · moderate	70	The storm test: 100 for no exposure, 10 points off per point of exposure.

The read

Test a theory on BTO

49 of the 100 plays hold BTO right now.
The breakout plays mostly say out.
It closed 12% above its 200-day average and 11% below its 52-week high.
Crash exposure reads moderate: it moves about 2.3× its index and fell about 1.2× as far as its index in past crashes.
Analysts' average 12-month target is C$9.53, 29% above the close (9 analysts).

This analysis does not constitute trading advice. Please meet with an advisor or independently review sources before making any decision. New to this? Start with the basics.

Plays in49 / 100Every play Be The Puck tests, in 7 families.

Crash exposureModerate3 of 10 on the storm test Mayer Multiple1.12×Price ÷ its 200-day average (+12%). Higher than on 64% of days since 2008. Above 2.4 is Mayer's overheated zone.

The most accurate play in each family

Each family's play whose calls went the right way most often, tested on 351 stocks since 2005, and what it says about BTO now.

Trend followingHoly GrailOUT42% of 12,813 calls rightOn BTO: right 13 of 24 · Out since Apr 11, 2022 Breakouts & channelsP&F Double TopIN37% of 36,314 calls rightOn BTO: right 71 of 201 · In since Sep 22, 2026 Momentum12-1 MomentumIN44% of 8,156 calls rightOn BTO: right 14 of 29 · In since Sep 30, 2026 Mean reversionBollinger ReversionOUT64% of 53,095 calls rightOn BTO: right 113 of 170 · Out since Jun 15, 2026 Volume & money flowMoney Flow IndexOUT59% of 13,925 calls rightOn BTO: right 28 of 44 · Out since Aug 20, 2026 Candles & chart patternsEngulfing SwitchIN50% of 38,976 calls rightOn BTO: right 62 of 117 · In since Oct 8, 2026 CalendarHalloween IndicatorOUT54% of 12,345 calls rightOn BTO: right 21 of 37 · Out since Apr 30, 2026

A call is right when the stock rose after an in call or fell after an out call. Trend plays are built to take many small losses for a few big wins, so their hit rates run lower; being right often isn't the same as making the most money. How we test a play.

BTO, day by day

How to read candlesticks

Each candle is one trading day: the box spans the open and close, the thin line the day's high and low. Hollow boxes closed up, filled boxes closed down. Toggle the averages to see the trend the plays read. Dots above the candles mark news and company filings: hover or tap one to see the story and how the stock moved from the last close before it, against the market on the same days.

What moved BTO lately

No session in the last 30 moved it twice a normal day against the S&P/TSX; these were its largest, the news read on each, and how reliably that kind of news has moved stocks before. How it's measured

Tue Sep 22+3.5% against the S&P/TSX0.9× a normal day

BTO +4.4%, the S&P/TSX +0.9% that session; +0.8% against the S&P/TSX over five sessions.

No earnings report, rating change, 8-K filing or news story on BTO was found for this session. Be The Puck's headline archive for BTO starts Oct 2, so news stories from that day aren't in it. The S&P/TSX moved +0.9%. The 50 other Metals & mining stocks Be The Puck covers moved +4.5% on average: much of the move was shared with its group.

Thu Sep 17+3.8% against the S&P/TSX1.0× a normal day

BTO +4.9%, the S&P/TSX +1.1% that session; +4.0% against the S&P/TSX over five sessions.

No earnings report, rating change, 8-K filing or news story on BTO was found for this session. Be The Puck's headline archive for BTO starts Oct 2, so news stories from that day aren't in it. The S&P/TSX moved +1.1%. The 50 other Metals & mining stocks Be The Puck covers moved +4.6% on average: much of the move was shared with its group.

Tue Sep 1−3.8% against the S&P/TSX0.9× a normal day

BTO −5.0%, the S&P/TSX −1.2% that session; −0.6% against the S&P/TSX over five sessions.

No earnings report, rating change, 8-K filing or news story on BTO was found for this session. Be The Puck's headline archive for BTO starts Oct 2, so news stories from that day aren't in it. The S&P/TSX moved −1.2%. The 50 other Metals & mining stocks Be The Puck covers moved −4.6% on average: much of the move was shared with its group.

Two years of calls, week by week

InOutShare of plays in

One row per play, grouped by family. When most rows turn green at once, the trend is broad. When they split, the plays disagree and the stock is usually chopping sideways.

Every play on BTO

All 100 plays, by family.

Trend following17 of 30 in Breakouts & channels4 of 15 in Momentum9 of 17 in Mean reversion7 of 15 in Volume & money flow6 of 9 in Candles & chart patterns2 of 3 in Calendar4 of 11 in

Calls right: how often the play's calls on BTO went the right way since 2005. Record columns: play / buy and hold, annual return and worst drawdown since 2008. Click a column to sort.Sort with the menu above the list.

Play	Call	Since	Next move	Calls right	Annual return	Worst drawdown
Trend following
PB EMABitcoin Playboy · daily	IN	Oct 9, 2026 −0.9%	Exit below C$7.40 (−0.1%)	24% 138/565	−5.0% / +11.1%	−86.2% / −80.0%
Bull Market Support BandBenjamin Cowen · weekly	IN	Aug 7, 2026 +5.8%	Exit below C$6.60 (−11.0%)	23% 23/99	−1.9% / +18.7%	−79.7% / −80.0%
Ripster EMA CloudRipster · daily	IN	Oct 9, 2026 −0.9%	Exit below C$7.17 (−3.2%)	24% 78/329	+0.5% / +13.5%	−74.1% / −80.0%
Trend TemplateMark Minervini · daily	OUT	Mar 12, 2026 +7.5%	Not on one close	15% 24/156	−3.4% / +16.6%	−82.2% / −80.0%
Stage AnalysisStan Weinstein · weekly	IN	Aug 21, 2026 −2.3%	Exit below C$6.57 (−11.3%)	18% 12/67	+4.1% / +19.2%	−64.7% / −80.0%
Stage 2 + Mansfield RSStan Weinstein · weekly	IN	Aug 21, 2026 −2.3%	Exit below C$7.15 (−3.5%)	21% 16/78	+5.5% / +15.1%	−56.7% / −80.0%
10-Month SMAMeb Faber · month-end	IN	Aug 31, 2026 −2.1%	Exit below C$6.58 (−11.2%)	24% 9/37	+4.2% / +19.2%	−74.3% / −80.0%
200-Day RulePaul Tudor Jones · daily	IN	Aug 7, 2026 +5.8%	Exit below C$6.61 (−10.8%)	14% 27/193	+1.8% / +19.3%	−78.7% / −80.0%
Golden CrossMarket tradition · daily	IN	Sep 15, 2026 +2.3%	Not on one close	30% 7/23	+12.0% / +19.3%	−72.0% / −80.0%
Granville 200-DayJoseph E. Granville · daily	IN	Aug 26, 2026 −6.8%	Exit below C$6.61 (−10.8%)	12% 14/115	+1.8% / +18.6%	−77.0% / −80.0%
Hull Moving AverageAlan Hull · weekly	OUT	Oct 9, 2026 −0.9%	Enter above C$8.39 (+13.2%)	38% 46/121	+2.5% / +12.3%	−70.9% / −80.0%
Kaufman Adaptive MAPerry J. Kaufman · daily	OUT	Oct 13, 2026 0.0%	Enter above C$7.48 (+0.9%)	23% 156/686	−3.0% / +11.2%	−87.8% / −80.0%
TEMA CrossoverPatrick G. Mulloy · daily	OUT	Sep 10, 2026 0.0%	Enter above C$10.23 (+38.0%)	40% 85/215	+5.6% / +17.8%	−54.7% / −80.0%
Seykota 15/150Ed Seykota · daily	IN	Aug 12, 2026 +2.6%	Not on one close	23% 8/35	+5.9% / +15.7%	−66.7% / −80.0%
Guppy Multiple MAsDaryl Guppy · daily	IN	Aug 11, 2026 +5.5%	Exit below C$6.67 (−10.0%)	29% 35/121	+0.4% / +15.1%	−75.9% / −80.0%
Ichimoku CloudGoichi Hosoda · daily	IN	Aug 7, 2026 +5.8%	Exit below C$6.57 (−11.4%)	28% 30/107	+0.3% / +11.3%	−71.6% / −80.0%
SupertrendOlivier Seban · daily	IN	Aug 7, 2026 +5.8%	Exit below C$7.08 (−4.5%)	42% 55/130	+4.9% / +8.4%	−69.6% / −83.5%
Williams AlligatorBill Williams · daily	OUT	Oct 6, 2026 +0.3%	Not on one close	38% 90/240	+1.7% / +8.4%	−68.2% / −83.5%
Vortex IndicatorEtienne Botes & Douglas Siepman · daily	OUT	Oct 7, 2026 +4.1%	Enter above C$7.83 (+5.7%)	35% 175/499	+5.1% / +8.2%	−64.7% / −85.0%
AroonTushar S. Chande · daily	OUT	Oct 7, 2026 +4.1%	Enter above C$7.92 (+6.9%)	34% 64/190	−4.6% / +9.5%	−84.2% / −80.9%
Parabolic SARJ. Welles Wilder Jr. · daily	OUT	Oct 1, 2026 +0.8%	Enter above C$7.68 (+3.6%)	38% 149/389	+6.5% / +8.0%	−74.8% / −85.0%
ADX TrendJ. Welles Wilder Jr. · daily	OUT	Sep 14, 2026 +1.9%	Not on one close	35% 45/128	+0.3% / +9.8%	−74.9% / −80.2%
MACD Zero LineGerald Appel · daily	IN	Aug 7, 2026 +5.8%	Exit below C$7.23 (−2.4%)	30% 50/169	+1.3% / +11.5%	−70.2% / −80.0%
Zweig 4% ModelMartin Zweig · weekly	OUT	Sep 11, 2026 −0.7%	Enter above C$7.71 (+4.0%)	36% 101/280	+5.3% / +8.8%	−58.4% / −83.1%
MAMA/FAMA CrossJohn F. Ehlers · daily	OUT	Oct 5, 2026 +1.2%	Enter above C$9.85 (+32.9%)	37% 70/190	+4.8% / +11.5%	−73.1% / −80.0%
Schaff Trend CycleDoug Schaff · daily	IN	Jul 22, 2026 +33.8%	Not on one close	35% 67/193	+2.7% / +17.8%	−65.5% / −80.0%
Zero Lag EC CrossJohn F. Ehlers & Ric Way · daily	IN	Aug 7, 2026 +5.8%	Exit below C$7.06 (−4.8%)	28% 46/165	+1.7% / +13.5%	−67.8% / −80.0%
DP Trend ModelCarl Swenlin & Erin Swenlin · daily	IN	Aug 11, 2026 +5.5%	Exit below C$3.35 (−54.8%)	29% 27/93	+2.4% / +13.5%	−72.5% / −80.0%
Elder Triple ScreenAlexander Elder · daily	OUT	Sep 11, 2026 −0.7%	Not on one close	37% 66/178	+7.1% / +20.0%	−44.5% / −80.0%
Holy GrailLinda Bradford Raschke & Larry Connors · daily	OUT	Apr 11, 2022 +48.3%	Not on one close	54% 13/24	+4.5% / +11.5%	−17.1% / −80.0%
Breakouts & channels
Four-Week RuleRichard Donchian · daily	IN	Aug 7, 2026 +5.8%	Exit below C$7.08 (−4.5%)	32% 35/109	−1.6% / +8.4%	−84.4% / −83.5%
Turtle System 1Richard Dennis & William Eckhardt · daily	OUT	Oct 7, 2026 +4.1%	Enter above C$8.13 (+9.7%)	32% 41/130	−2.8% / +11.4%	−55.7% / −80.0%
Turtle System 2Richard Dennis & William Eckhardt · daily	IN	Aug 7, 2026 +5.8%	Exit below C$7.08 (−4.5%)	32% 26/81	−0.9% / +11.4%	−65.8% / −80.0%
Clenow TrendAndreas F. Clenow · daily	OUT	Sep 1, 2026 +3.0%	Enter above C$8.09 (+9.2%)	32% 24/74	+3.1% / +13.5%	−51.5% / −80.0%
Darvas BoxNicolas Darvas · daily	OUT	Jun 5, 2026 +28.2%	Not on one close	29% 30/102	−4.7% / +8.4%	−77.5% / −83.5%
Keltner ChannelChester W. Keltner & Linda Bradford Raschke · daily	OUT	Sep 14, 2026 +1.9%	Enter above C$8.07 (+8.9%)	33% 44/134	−2.2% / +11.2%	−81.1% / −80.0%
Bollinger BreakoutJohn Bollinger · daily	OUT	Sep 1, 2026 +3.0%	Enter above C$7.86 (+6.1%)	33% 64/196	−2.8% / +8.5%	−81.9% / −84.6%
Chandelier ExitChuck LeBeau · daily	OUT	Sep 1, 2026 +3.0%	Enter above C$7.85 (+5.9%)	38% 65/170	+3.2% / +8.9%	−72.8% / −81.9%
Wilder Volatility SystemJ. Welles Wilder Jr. · daily	OUT	Sep 16, 2026 +2.9%	Enter above C$7.87 (+6.3%)	41% 63/154	+3.1% / +8.4%	−71.5% / −83.5%
P&F Double TopA.W. Cohen & Thomas J. Dorsey · daily	IN	Sep 22, 2026 −5.6%	Exit below C$6.96 (−6.0%)	35% 71/201	+4.0% / +8.8%	−80.3% / −85.0%
Chande Kroll StopTushar S. Chande & Stanley Kroll · daily	OUT	Oct 7, 2026 +4.1%	Enter above C$7.75 (+4.7%)	29% 82/284	+2.0% / +9.9%	−79.7% / −80.2%
Acceleration BandsPrice Headley · daily	OUT	Aug 31, 2026 −2.1%	Not on one close	21% 36/170	−5.3% / +8.4%	−79.5% / −83.5%
TTM SqueezeJohn F. Carter · daily	OUT	Aug 28, 2026 −5.3%	Enter above C$8.12 (+9.6%)	38% 42/110	+5.7% / +11.2%	−49.1% / −80.0%
NR7 BreakoutToby Crabel · daily	IN	Oct 9, 2026 −0.9%	Exit below C$7.38 (−0.4%)	33% 200/603	−2.2% / +7.6%	−85.3% / −86.7%
Bollinger SqueezeJohn Bollinger · daily	OUT	Sep 1, 2026 +3.0%	Not on one close	29% 10/34	+1.7% / +17.0%	−43.4% / −80.0%
Momentum
12-Month MomentumMoskowitz, Ooi & Pedersen · month-end	IN	Feb 28, 2025 +98.2%	Exit below C$6.26 (−15.5%)	35% 13/37	+13.3% / +16.9%	−63.3% / −80.0%
12-1 MomentumNarasimhan Jegadeesh & Sheridan Titman · month-end	IN	Sep 30, 2026 −0.3%	Not on one close	48% 14/29	+12.0% / +16.9%	−67.4% / −80.0%
Dual MomentumGary Antonacci · month-end	OUT	Sep 30, 2026 −0.3%	Enter above C$6.96 (−6.1%)	42% 11/26	+14.6% / +16.9%	−50.4% / −80.0%
Stocks on the MoveAndreas F. Clenow · daily	OUT	Apr 27, 2026 +20.6%	Not on one close	18% 28/152	−2.5% / +13.2%	−76.5% / −80.0%
52-Week HighThomas J. George & Chuan-Yang Hwang · month-end	OUT	Mar 31, 2026 +18.3%	Enter above C$7.95 (+7.2%)	38% 10/26	+3.0% / +15.6%	−51.8% / −80.0%
Levy Relative StrengthRobert A. Levy · weekly	IN	Aug 7, 2026 +5.8%	Exit below C$6.86 (−7.5%)	27% 26/95	−2.4% / +17.1%	−79.4% / −80.0%
MACD Signal CrossGerald Appel · daily	OUT	Sep 1, 2026 +3.0%	Enter above C$7.88 (+6.3%)	32% 122/379	+0.4% / +11.5%	−75.4% / −80.0%
Elder ImpulseAlexander Elder · daily	IN	Oct 9, 2026 −0.9%	Exit below C$7.30 (−1.5%)	28% 194/703	−5.2% / +11.5%	−85.1% / −80.0%
Know Sure ThingMartin J. Pring · daily	OUT	Sep 3, 2026 −5.0%	Enter above C$10.64 (+43.6%)	39% 109/281	+0.4% / +11.1%	−68.2% / −80.0%
Coppock CurveEdwin S. C. Coppock · month-end	IN	Jul 31, 2024 +90.7%	Not on one close	40% 6/15	+7.3% / +12.5%	−64.2% / −80.0%
CCI +100Donald R. Lambert · daily	OUT	Aug 28, 2026 −5.3%	Enter above C$7.75 (+4.7%)	29% 141/478	+0.0% / +8.4%	−64.8% / −83.5%
TRIX Signal CrossJack K. Hutson · daily	OUT	Sep 8, 2026 −1.1%	Enter above C$12.48 (+68.5%)	37% 86/230	+1.3% / +13.5%	−55.6% / −80.0%
TSI Zero LineWilliam Blau · daily	IN	Aug 7, 2026 +5.8%	Exit below C$7.23 (−2.5%)	28% 46/165	+2.0% / +13.5%	−69.5% / −80.0%
13612W MomentumWouter J. Keller & Jan Willem Keuning · month-end	IN	Aug 31, 2026 −2.1%	Exit below C$6.61 (−10.8%)	37% 26/71	+8.4% / +16.9%	−66.1% / −80.0%
Market-State MomentumMichael J. Cooper, Roberto C. Gutierrez Jr. & Allaudeen Hameed · month-end	IN	Sep 30, 2026 −0.3%	Not on one close	50% 14/28	+4.0% / +8.2%	−67.4% / −80.0%
Frog in the PanZhi Da, Umit G. Gurun & Mitch Warachka · daily	IN	Sep 30, 2026 −0.3%	Not on one close	48% 13/27	+9.0% / +16.9%	−54.4% / −80.0%
PMO Signal CrossCarl Swenlin · daily	OUT	Sep 8, 2026 −1.1%	Enter above C$8.85 (+19.4%)	31% 96/311	−1.4% / +17.8%	−71.1% / −80.0%
Mean reversion
RSI 30/70J. Welles Wilder Jr. · daily	OUT	Aug 18, 2026 +7.2%	Not on one close	76% 29/38	+13.0% / +8.5%	−78.0% / −85.0%
RSI(2) PullbackLarry Connors & Cesar Alvarez · daily	OUT	Sep 17, 2026 −1.9%	Not on one close	60% 135/226	+5.5% / +19.3%	−41.3% / −80.0%
Double 7sLarry Connors & Cesar Alvarez · daily	OUT	Oct 9, 2026 −0.9%	Buy C$6.61–C$7.12 (−3.9%)	61% 173/282	+8.9% / +19.3%	−50.3% / −80.0%
Bollinger ReversionJohn Bollinger · daily	OUT	Jun 15, 2026 +18.8%	Buy below C$7.07 (−4.6%)	66% 113/170	+11.6% / +8.5%	−62.2% / −84.6%
Stochastic 20/80George C. Lane · daily	IN	Sep 17, 2026 −1.9%	Not on one close	69% 98/143	+12.1% / +8.2%	−84.6% / −84.6%
Williams %RLarry Williams · daily	IN	Oct 8, 2026 +1.6%	Not on one close	57% 140/245	+2.1% / +8.2%	−81.7% / −85.0%
DeMark 9-CountTom DeMark · daily	OUT	Aug 14, 2026 +4.6%	Not on one close	69% 48/70	+9.2% / +8.0%	−80.3% / −86.7%
Mayer MultipleTrace Mayer · daily	IN	Nov 27, 2008 +2,267.7%	Sell above C$15.97 (+115.6%)	–	+19.3% / +19.3%	−80.0% / −80.0%
ConnorsRSI PullbackLarry Connors & Cesar Alvarez & Matt Radtke · daily	OUT	Sep 3, 2026 −5.0%	Not on one close	71% 17/24	+4.9% / +17.8%	−18.7% / −80.0%
Laguerre RSIJohn F. Ehlers · daily	IN	Oct 9, 2026 −0.9%	Not on one close	47% 139/295	+2.5% / +11.2%	−80.5% / −80.0%
StochRSI 20/80Tushar S. Chande & Stanley Kroll · daily	IN	Sep 29, 2026 −2.2%	Not on one close	53% 181/339	+1.6% / +11.2%	−79.8% / −80.0%
IBS ReversionAlexander S. Pagonidis · daily	OUT	Oct 2, 2026 0.0%	Buy below C$7.41 (0.0%)	56% 979/1740	+13.8% / +8.0%	−62.9% / −86.7%
Connors %bLarry Connors & Cesar Alvarez · daily	OUT	Apr 10, 2026 +9.6%	Not on one close	57% 42/74	+9.8% / +19.3%	−35.9% / −80.0%
Fisher TransformJohn F. Ehlers · daily	IN	Oct 9, 2026 −0.9%	Exit below C$6.96 (−6.1%)	34% 310/918	−2.4% / +11.5%	−80.7% / −80.0%
1-Month ReversalNarasimhan Jegadeesh & Bruce N. Lehmann · month-end	IN	Sep 30, 2026 −0.3%	Sell above C$7.58 (+2.3%)	60% 64/106	+7.0% / +10.2%	−79.4% / −80.0%
Volume & money flow
On-Balance VolumeJoseph E. Granville · daily	IN	Oct 8, 2026 +1.6%	Exit below C$7.41 (0.0%)	27% 156/576	−1.3% / +8.5%	−88.7% / −84.6%
Chaikin Money FlowMarc Chaikin · daily	IN	Aug 7, 2026 +5.8%	Not on one close	39% 66/171	−1.2% / +8.4%	−88.8% / −83.5%
Money Flow IndexGene Quong & Avrum Soudack · daily	OUT	Aug 20, 2026 +0.1%	Not on one close	64% 28/44	+2.1% / +8.5%	−84.2% / −85.0%
Negative Volume IndexNorman Fosback & Paul Dysart · daily	IN	Jul 24, 2026 +36.7%	Not on one close	33% 22/67	+3.5% / +14.7%	−60.1% / −80.0%
Force IndexAlexander Elder · daily	IN	Oct 9, 2026 −0.9%	Exit below C$7.38 (−0.4%)	24% 152/628	−7.3% / +9.6%	−97.0% / −80.4%
Buff AveragesBuff Dormeier · daily	OUT	Oct 1, 2026 +0.8%	Enter above C$8.14 (+9.9%)	31% 103/330	+1.6% / +8.5%	−66.7% / −84.6%
Chaikin OscillatorMarc Chaikin · daily	IN	Oct 9, 2026 −0.9%	Exit below C$7.41 (0.0%)	36% 172/475	−0.8% / +8.4%	−85.7% / −83.5%
Volume Flow IndicatorMarkos Katsanos · daily	IN	Sep 18, 2026 −3.1%	Not on one close	36% 37/102	+8.3% / +16.3%	−81.1% / −80.0%
Klinger OscillatorStephen J. Klinger · daily	OUT	Sep 23, 2026 −1.7%	Buy C$7.40–C$7.66 (−0.1%)	33% 255/768	+4.9% / +15.4%	−65.7% / −80.0%
Candles & chart patterns
Engulfing SwitchSteve Nison & Thomas N. Bulkowski · daily	IN	Oct 8, 2026 +1.6%	Not on one close	53% 62/117	+7.4% / +8.1%	−62.4% / −86.7%
HikkakeDaniel L. Chesler · daily	IN	Oct 9, 2026 −0.9%	Exit below C$7.08 (−4.5%)	39% 28/71	+3.4% / +8.1%	−70.3% / −86.7%
Turtle Soup Plus OneLinda Bradford Raschke & Larry Connors · daily	OUT	Feb 3, 2025 +117.9%	Not on one close	65% 34/52	+4.8% / +8.8%	−19.4% / −83.1%
Calendar
Halloween IndicatorSven Bouman & Ben Jacobsen & Yale Hirsch & Jeffrey Hirsch · daily	OUT	Apr 30, 2026 +21.7%	Buys Oct 30	57% 21/37	+11.2% / +8.0%	−60.7% / −86.7%
Best Six + MACDYale Hirsch & Jeffrey Hirsch · daily	OUT	Apr 21, 2026 +15.7%	Enter above C$7.44 (+0.4%)	61% 22/36	+15.9% / +11.5%	−60.5% / −80.0%
Seasonal TimingSy Harding · daily	OUT	Apr 27, 2026 +20.6%	Window opens Oct 16	58% 21/36	+11.1% / +11.5%	−74.0% / −80.0%
Santa Claus RallyYale Hirsch & Jeffrey Hirsch · daily	OUT	Jan 5, 2026 +19.5%	Buys Dec 23	53% 19/36	+5.6% / +8.0%	−15.7% / −86.7%
Turn of the MonthJosef Lakonishok & Seymour Smidt & Robert A. Ariel · daily	OUT	Oct 5, 2026 +1.2%	Buys Oct 29	50% 224/448	+8.4% / +8.0%	−50.8% / −86.7%
Presidential Sweet SpotYale Hirsch & Jeffrey Hirsch · daily	IN	Sep 30, 2026 −0.3%	Sells Jun 30	44% 4/9	+5.2% / +8.0%	−34.3% / −86.7%
Pre-HolidayRobert A. Ariel & Josef Lakonishok & Seymour Smidt · daily	OUT	Sep 4, 2026 −4.2%	Buys Nov 24	50% 164/330	+6.1% / +8.0%	−20.7% / −86.7%
January BarometerYale Hirsch & Jeffrey Hirsch · month-end	IN	Dec 30, 2022 +77.3%	Not on one close	44% 7/16	+8.8% / +18.1%	−56.7% / −80.0%
Weekend EffectKenneth French & Josef Lakonishok & Seymour Smidt · daily	IN	Oct 13, 2026 0.0%	Sells Oct 16	49% 947/1947	+5.3% / +8.0%	−91.3% / −86.7%
Pre-FOMC DriftDavid Lucca & Emanuel Moench · daily	OUT	Sep 16, 2026 +2.9%	Buys Oct 27	48% 143/296	+3.5% / +8.0%	−21.4% / −86.7%
Lunar CycleKathy Yuan, Lu Zheng & Qiaoqiao Zhu · daily	IN	Oct 2, 2026 0.0%	Sells Oct 16	50% 230/461	+1.2% / +8.0%	−80.4% / −86.7%
Benchmark
Buy & HoldJohn C. Bogle · benchmark	IN	Feb 13, 2008	Always in	–	+9.0%	−86.7%

If the market cracks: the storm test

How the storm test works

ExposureModerate3 of 10 points

Market swings2/3
Past crashes1/2
Debt0/3
Run-up0/2

It moves about 2.3× its index.
It fell about 1.2× as far as its index in past crashes.

Past crashes, peak to low

COVID crash Feb 2020 to Mar 2020 · back to its old high Apr 2020

BTO−36%

TSX−37%

2022 bear market Jan 2022 to Sep 2022 · back to its old high Dec 2022

BTO−21%

TSX−14%

Beta2.26Moves about 2.3× as much as the TSX week to week.
Downside capture123%In months the TSX fell, this fell 123% as much on average.
Two-year change+77%Run-ups of 100%+ crashed 40% or more within two years about half the time (Greenwood, Shleifer & You).
From 52-week high−11%
Debt to equity0.13×
Net debt / EBITDA0.1×Years of operating cash earnings it would take to pay off its debt.
Interest cover26.9×

A crash marks every stock down; debt decides which companies come through. The storm test scores both halves: how hard the stock swings with the market, and how much debt it carries into a downturn. It describes fragility; it does not predict a crash.

The business behind the price

How to judge these numbers

Gold · B2Gold Corp. operates as a gold producer company in Canada. The company operates the Fekola Mine in Mali; the Masbate Mine in the Philippines; the Otjikoto Mine in Namibia; the Goose Mine in Canada. It also owns 100% interest in the Gramalote gold project in Colombia. In addition, the company has a portfolio of other evaluation and exploration assets in Mali, Canada and Finland. The company was incorporated in 2006 and is headquartered in Vancouver, Canada.

Size and valuation
Market cap	C$9.8B	What the whole company is worth at today's price: share price × shares outstanding.
Revenue (last 12 months)	$3.8B	Total sales.
P/E ratio	9.8×	Buyers pay C$10 for each C$1 of the last year's profit.
Forward P/E	5.2×	Price against analysts' estimate of next year's profit. Lower than the P/E means profit is expected to grow.
Price to book	1.7×	Price against the company's net assets (its equity) per share.

Profit and growth
Profit margin	21.3%	Keeps 21¢ of each dollar of sales as profit.
Revenue growth	+14.0%	Last quarter's sales against the same quarter a year earlier.
Earnings growth	+185.4%	Same comparison for profit.
Return on equity	22.6%	Yearly profit as a share of shareholders' money in the business.
Free cash flow	$298M	Cash left after running and investing in the business.

Balance sheet
Total equity	$3.6B	What it owns minus what it owes.
Total debt	$456M	Loans and bonds it has to pay back, with interest.
Cash	$290M	Cash and short-term investments on hand.
Debt to equity	0.13×	Comfortable.
Interest cover	26.9×	Interest is easily paid from profit.

Wall Street
Average analyst target	C$9.53	29% above the close, from 9 analysts (range C$5.22 to C$11.05).
Consensus rating	Buy	Analysts' average recommendation. Ratings lean positive: sell ratings are rare.
Dividend yield	1.50%	Yearly dividends as a share of the price.

Company figures from Yahoo Finance, fetched Oct 14, 2026. Analyst targets are opinions, not forecasts Be The Puck checks.

Reports for Be The Puck Members.

BTO: the briefWhat the plays, the levels and the business say, in plain English. Rebuilt nightly.Members Metals & mining: what the plays sayEvery covered name in the sector, side by side.Members Debt decides who survives a crashThe storm test on every covered stock.Members Is this a bubble?The gauges in October 2026, and what history says about timing.Members

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