B2Gold (NYSEAMERICAN:BTG) Issues Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• B2Gold reported quarterly EPS of $0.03, missing the $0.07 consensus estimate by $0.04, although revenue increased 14% year over year.
• Shares fell 0.2% to $4.09 following the results. The stock has traded between $3.46 and $6.28 over the past year.
• Analysts maintain a consensus “Hold” rating and reduced the average price target to $5.50, while institutional investors own 61.4% of the company.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO posted its quarterly earnings results on Thursday. The basic materials company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04), Briefing.com reports. B2Gold had a return on equity of 21.36% and a net margin of 14.91%.B2Gold's revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share.

B2Gold Stock Down 0.2%

Shares of B2Gold stock traded down $0.01 during trading on Thursday, reaching $4.09. The company's stock had a trading volume of 31,684,725 shares, compared to its average volume of 18,701,972. B2Gold has a 1-year low of $3.46 and a 1-year high of $6.28. The company has a quick ratio of 0.59, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.33 and a beta of 0.66. The company has a 50-day simple moving average of $4.03 and a two-hundred day simple moving average of $4.65.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price objective 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 cut their price objective on B2Gold from $5.75 to $5.00 and set a "sector perform" rating for the company in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.50.

Hedge Funds Weigh In On B2Gold

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC boosted its position in shares of B2Gold by 248.2% in 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 purchasing an additional 16,639,601 shares during the period. Condire Management LP acquired a new position in B2Gold in the 4th quarter valued at $50,807,000. Marshall Wace LLP increased its stake in shares of B2Gold by 1,124.3% during the fourth quarter. Marshall Wace LLP now owns 8,556,658 shares of the basic materials company's stock worth $38,591,000 after acquiring an additional 7,857,774 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of B2Gold during the 4th quarter worth approximately $32,899,000. Finally, Mackenzie Financial Corp raised its position in B2Gold by 472.1% in the fourth quarter. Mackenzie Financial Corp now owns 8,193,157 shares of the basic materials company's stock worth $37,252,000 after acquiring an additional 6,761,114 shares in the last quarter. Hedge funds and other institutional investors 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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