07:52 AM EST, 11/06/2019 (MT Newswires) -- Canadian precious metals miner B2Gold (BTO.TN) posted better-than-expected results for its third quarter after markets closed on Tuesday as higher average selling prices helped drive up gold revenues for the Vancouver-based company.

Consolidated gold revenue rose to $310.8 million in the three months ended Sept. 30, up from $280 million in the corresponding quarter of the prior year. The result was ahead of the consensus estimate of analysts polled by Capital IQ for $309.0 million and came on the back of sales of 208,900 ounces at an average selling price of $1,488 per ounce.

By contrast, in the prior-year period, B2Gold registered sales of 232,209 ounces at an average price of $1,206 per ounce.

The increase in gold revenue was attributed to a 23% increase in the average realized gold price partially offset by a 10% decrease in the gold ounces sold, which the company said was due to the timing of gold sales.

Including output at El Limon and La Libertad, two mines which the company sold to Calibre Mining in October for aggregate consideration of $100 million, consolidated gold revenue was $382 million on sales of 256,670 ounces at an average realized price of $1,489 per ounce.

Earnings per share came in at $0.05, up from $0.01 a year earlier and in line with the consensus estimate of analysts polled by Capital IQ.

B2Gold also declared in its third-quarter results the company's first dividend of $0.01 per common share and said that it expects to declare future dividends quarterly at the same level, which on an annualized basis would amount to $0.04 per common share.