Manitou Investment Management Ltd. reduced its holdings in shares of B2Gold Corp. (NYSEAMERICAN:BTG) (TSE:BTO) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the basic materials company’s stock after selling 11,000 shares during the period. Manitou Investment Management Ltd.’s holdings in B2Gold were worth $36,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its holdings in B2Gold by 373.9% in the second quarter. Invesco Ltd. now owns 15,165,735 shares of the basic materials company’s stock worth $45,952,000 after buying an additional 11,965,434 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of B2Gold by 32.2% during the second quarter. Renaissance Technologies LLC now owns 23,432,515 shares of the basic materials company’s stock valued at $71,015,000 after purchasing an additional 5,707,720 shares during the last quarter. Morgan Stanley raised its holdings in shares of B2Gold by 47.7% during the second quarter. Morgan Stanley now owns 16,077,399 shares of the basic materials company’s stock valued at $48,715,000 after purchasing an additional 5,190,812 shares during the last quarter. Alberta Investment Management Corp raised its holdings in shares of B2Gold by 292.1% during the third quarter. Alberta Investment Management Corp now owns 3,738,600 shares of the basic materials company’s stock valued at $12,170,000 after purchasing an additional 2,785,000 shares during the last quarter. Finally, Ruffer LLP purchased a new position in shares of B2Gold during the second quarter valued at approximately $8,261,000.
Shares of BTG remained flat at $$3.44 during mid-day trading on Friday. 6,548,276 shares of the stock traded hands, compared to its average volume of 5,724,797. B2Gold Corp. has a 1 year low of $2.40 and a 1 year high of $4.02.
B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $310.78 million for the quarter.
Several research analysts have recently weighed in on the stock. Scotiabank set a $5.30 price objective on shares of B2Gold and gave the company a “buy” rating in a report on Wednesday, September 18th. TheStreet raised shares of B2Gold from a “c” rating to a “b-” rating in a report on Friday, August 16th. Canaccord Genuity reissued a “buy” rating on shares of B2Gold in a report on Friday, July 19th. Finally, Raymond James reissued a “buy” rating and set a $6.25 price objective on shares of B2Gold in a report on Friday. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $4.68.
B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, Finland, and Namibia. It primarily explores for gold and silver deposits. The company primarily holds 80% interest in Fekola mine, an open pit gold mine located in Mali; 90% interest in Otjikoto gold mine located north of Windhoek, Namibia; Masbate gold project located in the south-east of Manila, the Philippines; and 95% interest in El Limon mine, an underground gold mine located in northwestern Nicaragua.
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