B2Gold (NYSEAMERICAN:BTG) Upgraded to Moderate Buy at ATB Cormark Capital Markets

ATB Cormark Capital Markets upgraded shares of B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) from a hold rating to a moderate buy rating in a research note published on Monday,Zacks.com reports.

Several other research firms have also weighed in on BTG. Scotiabank raised B2Gold from a “sector perform” rating to a “sector outperform” rating in a research note on Monday. Royal Bank Of Canada lowered their target price on B2Gold from $5.75 to $5.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce raised shares of B2Gold from a “neutral” rating to an “outperform” rating and set a $7.50 target price for the company in a report on Monday. Finally, Jefferies Financial Group reduced their price target on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.17.

B2Gold Stock Up 0.6%

NYSEAMERICAN BTG opened at $5.06 on Monday. The business has a fifty day moving average price of $4.05 and a two-hundred day moving average price of $4.65. The stock has a market capitalization of $6.68 billion, a PE ratio of 9.20, a PEG ratio of 0.41 and a beta of 0.66. B2Gold has a fifty-two week low of $3.48 and a fifty-two week high of $6.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 0.59.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). B2Gold had a net margin of 21.47% and a return on equity of 17.56%. The business had revenue of $789.35 million during the quarter, compared to the consensus estimate of $836.33 million. During the same quarter in the previous year, the business posted $0.12 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities analysts expect that B2Gold will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On B2Gold

Institutional investors have recently added to or reduced their stakes in the business. StoneX Group Inc. raised its stake in shares of B2Gold by 2.1% during the fourth quarter. StoneX Group Inc. now owns 118,518 shares of the basic materials company’s stock valued at $535,000 after acquiring an additional 2,490 shares during the last quarter. Themes Management Co LLC grew its stake in shares of B2Gold by 1.2% in the first quarter. Themes Management Co LLC now owns 230,260 shares of the basic materials company’s stock worth $1,046,000 after purchasing an additional 2,641 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in B2Gold by 17.5% in the fourth quarter. Concurrent Investment Advisors LLC now owns 26,079 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 3,888 shares during the period. SBI Securities Co. Ltd. increased its holdings in B2Gold by 17.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 28,432 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 4,236 shares during the period. Finally, Advyzon Investment Management LLC raised its position in B2Gold by 12.6% during the 4th quarter. Advyzon Investment Management LLC now owns 52,209 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 5,842 shares during the last quarter. 61.40% of the stock is owned by institutional investors.

B2Gold Company Profile

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.