11 Best Canadian Gold Stocks to Buy According to Hedge Funds

6. B2Gold Corp. (NYSE:BTG)

Number of Hedge Fund Holders: 23

Year-To-Date Returns: 52.05%

B2Gold Corp. (NYSE:BTG) is one of the best Canadian gold stocks to buy according to hedge funds. On July 30, the company announced that Mali’s government had granted it approval to commence underground mining at the Fekola Mine. The decision followed meetings between B2Gold executives and senior Malian government officials earlier in July, which the company termed “productive”.

B2Gold has already developed more than 9,300 meters of underground workings and installed all necessary mining infrastructure at the site in anticipation of approval. Following the green light, the company has commenced stope ore production, and previously stockpiled underground ore is now being processed through the Fekola mill.

The Fekola Complex comprises the Fekola Mine (Medinandi permit), which includes the Fekola and Cardinal open pits, and the Fekola underground mine. B2Gold owns 80% of the mine, while the State holds the rest. The other element of the Fekola Complex is the Fekola Regional (Anaconda Area/Menankoto permit and Dandoko permit), 65% owned by B2Gold and 35% by the State.

The company expects Fekola underground to contribute up to 35,000 ounces of gold production in 2025, with further ramp-up in 2026 and subsequent years. Additionally, B2Gold reaffirmed its full-year 2025 gold production guidance for the entire Fekola Complex at 515,000–550,000 ounces.

B2Gold Corp. (NYSE:BTG) is a Canadian gold mining company. It acquires, develops, and operates gold properties, primarily through the Fekola mine in Mali, the Masbate mine in the Philippines, and the Otjikoto mine in Namibia. Its main product is gold bullion, produced from open-pit mining operations across its global portfolio.