Cadence Wealth Management LLC Takes Position in B2Gold Corp $BTG

Cadence Wealth Management LLC bought a new position in B2Gold Corp (NYSEAMERICAN:BTG – Free Report) (TSE:BTO) during the second quarter, according to its most recent filing with the SEC. The firm bought 323,855 shares of the basic materials company’s stock, valued at approximately $1,211,000. B2Gold makes up 0.5% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding.

Several other hedge funds have also bought and sold shares of the business. Intact Investment Management Inc. raised its holdings in B2Gold by 5,130.6% during the fourth quarter. Intact Investment Management Inc. now owns 1,642,400 shares of the basic materials company’s stock worth $7,395,000 after buying an additional 1,611,000 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of B2Gold during the second quarter valued at about $1,346,000. Deutsche Bank AG acquired a new position in shares of B2Gold during the second quarter valued at about $63,960,000. Persistent Asset Partners Ltd bought a new stake in shares of B2Gold during the second quarter worth about $781,000. Finally, Easterly Investment Partners LLC increased its position in shares of B2Gold by 3.9% during the fourth quarter. Easterly Investment Partners LLC now owns 2,934,687 shares of the basic materials company’s stock worth $13,235,000 after acquiring an additional 109,076 shares in the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

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B2Gold Stock Performance

NYSEAMERICAN BTG opened at $5.52 on Friday. B2Gold Corp has a 1 year low of $3.57 and a 1 year high of $6.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.58. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.37 and a beta of 0.66. The company has a fifty day moving average price of $4.22 and a 200-day moving average price of $4.65.

B2Gold (NYSEAMERICAN:BTG – Get Free Report) (TSE:BTO) last announced its 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). B2Gold had a net margin of 21.47% and a return on equity of 17.05%. The firm had revenue of $789.35 million during the quarter, compared to analysts’ expectations of $836.33 million. During the same quarter in the prior year, the company earned $0.12 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities research analysts predict that B2Gold Corp will post 0.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Jefferies Financial Group dropped their price target on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. ATB Cormark Capital Markets raised B2Gold from a “hold” rating to a “moderate buy” rating in a report on Monday, August 10th. Royal Bank Of Canada lowered their price objective 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. Scotiabank upgraded B2Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, August 10th. Finally, TD Securities raised B2Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $6.17.

Read Our Latest Stock Report on BTG

B2Gold Profile

(Free Report)

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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