1 Top TSX Stock to Buy Before the Next Market Shock

Market shocks rarely send polite invitations. They just show up. So the best stocks to buy before one arrives often share a few traits. They sell something the world still wants when confidence drops, hold real assets, and generate cash. Furthermore, they don’t need a perfect economy to make their case. Gold miners can fit that setup, especially when investors start looking for protection from inflation, rate surprises, political risk, or another stock market wobble.

BTO

B2Gold (TSX:BTO) is one TSX stock worth watching before the next shock. The Vancouver-based gold producer runs mines in Mali, Namibia, the Philippines, and Canada. That gives it broad exposure to gold, plus a major new Canadian growth engine through its Goose Mine in Nunavut. Over the last year, the big story was simple. B2Gold stock moved from being a steady mid-tier producer to one with a fresh production base and a much stronger gold-price tailwind.

Recent news also gave investors a lot to chew on. Goose reached commercial production in October 2025, then started contributing real ounces. B2Gold stock also agreed to work with Agnico Eagle in Nunavut to share knowledge around Arctic mining, logistics, safety, and operations. That could help the company improve execution in a tough region. There are still bumps, including a fire-related issue at Goose’s crushing circuit and permit timing at Fekola Regional in Mali. However, B2Gold stock enters this period with momentum, not panic.

Into earnings

The latest earnings looked strong. In the first quarter of 2026, B2Gold stock produced 237,763 ounces of gold, ahead of expectations. It sold 276,346 ounces at an average realized gold price of US$4,193 per ounce. That helped gold revenue reach about US$1.2 billion. Net income attributable to shareholders came in near US$200 million, or US$0.15 per share. Adjusted net income was even stronger at US$259.9 million, or US$0.19 per share.

Cash flow stood out even more. B2Gold generated US$539.5 million in operating cash flow and US$361.8 million in free cash flow during the quarter. That’s exactly the kind of number investors want to see from a gold miner when gold prices run hot. The stock also doesn’t look wildly priced. Around recent levels, B2Gold stock carried a market value near $7.8 billion and traded around 15 times trailing earnings, and 5.4 times forward earnings. That suggests investors still haven’t priced it like a perfect story.

Looking ahead

The outlook also gives B2Gold stock a clear reason to fit this market-shock theme. The company expects 2026 production between 820,000 and 970,000 ounces of gold. Goose should produce between 170,000 and 230,000 ounces this year, then potentially average about 300,000 ounces annually over the medium term. That could make Canada a much bigger part of the story and reduce reliance on older assets over time.

Still, this isn’t a risk-free safe haven. Gold prices can swing hard, and mining costs can rise. Goose still needs smoother execution, Fekola Regional depends on permitting, and Mali adds political risk. B2Gold stock also faces higher royalties when gold prices surge, which can eat into some of the upside. But those risks come with a business already producing meaningful cash in a strong gold environment.

Bottom line

For investors worried about the next market shock, B2Gold stock offers a useful mix. It gives exposure to gold, real production, a growing Canadian asset, and strong recent cash flow. It won’t move like a sleepy utility, and it shouldn’t play that role. But if markets get nervous and gold stays in demand, B2Gold could look like one of those stocks investors wish they had bought before the alarm bells started ringing.

The post 1 Top TSX Stock to Buy Before the Next Market Shock appeared first on The Motley Fool Canada.

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More reading

• TSX Today: What to Watch for in Stocks on Friday, May 8
• 3 Canadian Stocks That Look Like Smart Long-Term Buys Today

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends B2Gold. The Motley Fool has a disclosure policy.