Connor Clark & Lunn Investment Management Ltd. Makes New $107.81 Million Investment in B2Gold Corp $BTG

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 28,768,407 shares of the basic materials company’s stock, valued at approximately $107,805,000.

Several other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in B2Gold during the second quarter worth about $37,000. Parkway Wealth Management Group LLC acquired a new stake in B2Gold in the first quarter valued at about $51,000. DGS Capital Management LLC purchased a new stake in B2Gold in the 1st quarter valued at approximately $50,000. Ascentis Independent Advisors purchased a new stake in B2Gold in the 1st quarter valued at approximately $50,000. Finally, GSA Capital Partners LLP acquired a new position in B2Gold during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 61.40% of the company’s stock.

B2Gold Stock Performance

Shares of B2Gold stock opened at $5.52 on Monday. The company has a 50-day moving average of $4.22 and a two-hundred day moving average of $4.65. B2Gold Corp has a 12-month low of $3.57 and a 12-month high of $6.28. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. The stock has a market cap of $7.29 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last announced its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). The firm had revenue of $789.35 million for the quarter, compared to analysts’ expectations of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.B2Gold’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. On average, research analysts anticipate that B2Gold Corp will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Scotiabank raised B2Gold from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, August 10th. ATB Cormark Capital Markets raised B2Gold from a “hold” rating to a “moderate buy” rating in a report on Monday, August 10th. Jefferies Financial Group cut their price objective on B2Gold from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Canadian Imperial Bank of Commerce raised B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 target price for the company in a report on Monday, August 10th. Finally, Royal Bank Of Canada decreased their target price on shares of B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $6.17.

About B2Gold

B2Gold Corp. is a Canadian-based intermediate gold producer with a diversified portfolio of operating mines and advanced-stage development projects. Founded in 2007 through the merger of Bema Gold and CGA Mining, the company has grown to become one of the world’s largest new gold producers. Headquartered in Vancouver, British Columbia, B2Gold focuses on efficient, low-cost operations across several continents, combining exploration, development and production within a single strategic framework.

The company’s flagship assets include the Fekola mine in Mali, which commenced production in 2017, the Otjikoto mine in Namibia, and the Masbate mine in the Philippines.