B2Gold (NYSEAMERICAN:BTG) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

• Raymond James raised B2Gold’s price target to $7.50 from $7.25 and maintained an “outperform” rating, implying approximately 33.9% upside from the reported $5.60 share price.
• Analyst sentiment is broadly positive: B2Gold has a consensus “Buy” rating and a $6.50 average price target, with several firms recently upgrading the stock.
• B2Gold’s latest quarterly results missed expectations, reporting $0.03 in EPS versus $0.07 forecast and $789.35 million in revenue versus $836.33 million expected, although revenue increased 14% year over year.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO had its price objective increased by investment analysts at Raymond James Financial from $7.25 to $7.50 in a note issued to investors on Friday, BayStreet reports. The brokerage currently has an "outperform" rating on the basic materials company's stock. Raymond James Financial's price objective suggests a potential upside of 33.93% from the stock's current price.

Several other equities research analysts also recently commented on BTG. Scotiabank upgraded shares of B2Gold from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, August 10th. Jefferies Financial Group lowered their price target on shares of 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 on the stock in a research note on Monday, August 10th. ATB Cormark Capital Markets raised shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 10th. Finally, Royal Bank Of Canada reduced their price target on shares of B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $6.50.

B2Gold Stock Performance

BTG traded down $0.09 on Friday, hitting $5.60. 16,545,934 shares of the stock traded hands, compared to its average volume of 31,461,441. The business has a fifty day moving average price of $4.47 and a two-hundred day moving average price of $4.67. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. B2Gold has a 52 week low of $3.57 and a 52 week high of $6.28. The firm has a market capitalization of $7.40 billion, a PE ratio of 10.18, a P/E/G ratio of 0.37 and a beta of 0.73.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last issued its earnings results on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). The firm had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. B2Gold had a net margin of 21.47% and a return on equity of 17.05%. The business's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, research analysts predict that B2Gold will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On B2Gold

Several institutional investors have recently modified their holdings of the business. Pale Fire Capital SE grew its holdings in shares of B2Gold by 77.4% in the first quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company's stock worth $315,923,000 after acquiring an additional 30,428,530 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in B2Gold in the 2nd quarter worth about $107,805,000. Deutsche Bank AG purchased a new stake in shares of B2Gold in the second quarter worth approximately $63,960,000. Norges Bank bought a new stake in shares of B2Gold during the 4th quarter worth approximately $75,333,000. Finally, Millennium Management LLC boosted its holdings in B2Gold by 248.2% during the 4th quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company's stock valued at $105,264,000 after acquiring an additional 16,639,601 shares during the period. 61.40% of the stock is owned by hedge funds and other 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.

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