10 Best Mining Penny Stocks to Buy Now

3. B2Gold Corp. (NYSE:BTG)

Number of Hedge Fund Holders: 19

Share Price as of the close of March 7: $2.68

B2Gold Corp. (NYSE:BTG) is a gold production company based in Vancouver, and its operations are run in the Philippines, Mali, and Namibia. The company is assessing possible developments in Mali, Colombia, and Finland and is also progressing well with its Goose Project in northern Canada.

Backed by robust performance from the Masbate and Otjikoto mines, B2Gold Corp. (NYSE:BTG) generated 186,001 ounces of gold in Q4 ended December 31, 2024. Unfortunately, full-year output dropped to 804,778 ounces, which represents the lower end of the company’s forecasted production range. This is due to lower-than-expected output at Fekola, which was attributed to delays in reaching higher-grade ore.

Subsequently, B2Gold Corp. (NYSE:BTG) recorded adjusted net earnings of $0.01 per share and operating cash flow of $145 million in Q4 ended December 31, 2024. The company closed its year with $337 million in cash, fully repaying its $400 million revolving credit facility following a $460 million convertible note issuance in early 2025.

Fueled by increasing output from Fekola and the startup of the Goose Project in Q2 2025, which is forecasted to contribute over 300,000 ounces annually, B2Gold Corp. (NYSE:BTG) anticipates strong production growth in 2025. In addition to this, the Gramalote Project in Colombia could contribute 234,000 ounces per year, subject to a positive feasibility study by mid-2025. The company strengthened its resource base by discovering 327,000 additional ounces at Otjikoto’s Antelope deposit.

Moving forward, backed by growing mining rates at Fekola and the Goose Project ramp-up, B2Gold Corp. (NYSE:BTG) predicts overall business growth in 2025. Therefore, BTG remains one of the best penny stocks to buy now due to its significant developments in progress.