B2Gold (NYSEAMERICAN:BTG – Get Free Report) (TSE:BTO) was upgraded by ATB Cormark Capital Markets from a “hold” rating to a “moderate buy” rating in a report issued on Monday,Zacks.com reports.
Several other equities analysts have also weighed in on the company. Scotiabank upgraded B2Gold from a “sector perform” rating to a “sector outperform” rating in a research note on Monday. Jefferies Financial Group lowered their price target on B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada dropped their price objective on B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce upgraded B2Gold from a “neutral” rating to an “outperform” rating and set a $7.50 price objective for the company in a research report on Monday. One equities research 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 has an average rating of “Buy” and an average target price of $6.17.
View Our Latest Stock Report on B2Gold
B2Gold Stock Up 0.6%
B2Gold (NYSEAMERICAN:BTG – Get Free Report) (TSE:BTO) last issued its quarterly earnings data on Thursday, August 6th. The basic materials company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). B2Gold had a return on equity of 17.56% and a net margin of 21.47%.The firm had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. During the same quarter last year, the company posted $0.12 EPS. The company’s revenue was up 14.0% on a year-over-year basis. On average, research analysts forecast that B2Gold will post 0.58 EPS for the current year.
Hedge Funds Weigh In On B2Gold
Hedge funds have recently made changes to their positions in the company. E Fund Management Co. Ltd. purchased a new position in shares of B2Gold in the second quarter valued at approximately $142,000. Oxbow Advisors LLC purchased a new stake in shares of B2Gold during the second quarter worth approximately $286,000. Wealthfront Advisers LLC purchased a new stake in shares of B2Gold during the second quarter worth approximately $143,000. BlackRock Inc. acquired a new position in B2Gold in the 2nd quarter valued at $5,267,000. Finally, Deutsche Bank AG acquired a new position in B2Gold in the 2nd quarter valued at $63,960,000. Institutional investors and hedge funds own 61.40% of the company’s stock.
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.
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