B2Gold (NYSEAMERICAN:BTG) Rating Increased to Moderate Buy at ATB Cormark Capital Markets

Key Points

• ATB Cormark upgraded B2Gold from “hold” to “moderate buy,” while the broader analyst consensus remains “Buy” with an average price target of $6.17.
• B2Gold reported quarterly EPS of $0.03, below the $0.07 consensus estimate, and revenue of $789.35 million versus expectations of $836.33 million; however, revenue increased 14% year over year.
• Shares opened at $5.06, with a 12-month range of $3.48 to $6.28. Institutional investors and hedge funds own approximately 61.4% of the company.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO was upgraded by stock analysts at ATB Cormark Capital Markets from a "hold" rating to a "moderate buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on BTG. Royal Bank Of Canada dropped their target price on B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 9th. Canadian Imperial Bank of Commerce upgraded B2Gold from a "neutral" rating to an "outperform" rating and set a $7.50 price target for the company in a research note on Monday. Scotiabank raised B2Gold from a "sector perform" rating to a "sector outperform" rating in a report on Monday. Finally, Jefferies Financial Group dropped their price target on B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $6.17.

B2Gold Price Performance

Shares of BTG opened at $5.06 on Monday. The company has a 50 day moving average of $4.05 and a two-hundred day moving average of $4.65. The company has a quick ratio of 0.59, a current ratio of 1.19 and a debt-to-equity ratio of 0.13. B2Gold has a twelve month low of $3.48 and a twelve month high of $6.28. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.41 and a beta of 0.66.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 earnings per share (EPS) 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 business had revenue of $789.35 million for the quarter, compared to analyst estimates of $836.33 million. During the same period in the previous year, the company posted $0.12 earnings per share. The business's revenue for the quarter was up 14.0% on a year-over-year basis. As a group, analysts predict that B2Gold will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On B2Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of B2Gold by 11.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 387,839 shares of the basic materials company's stock valued at $1,749,000 after buying an additional 38,598 shares during the period. TD Waterhouse Canada Inc. grew its holdings in B2Gold by 22.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 422,008 shares of the basic materials company's stock worth $1,900,000 after acquiring an additional 76,384 shares during the period. Ruffer LLP purchased a new position in B2Gold during the fourth quarter valued at approximately $2,054,000. Kingswood Wealth Advisors LLC purchased a new position in B2Gold during the fourth quarter valued at approximately $65,000. Finally, Concurrent Investment Advisors LLC raised its position in B2Gold by 17.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 26,079 shares of the basic materials company's stock valued at $118,000 after acquiring an additional 3,888 shares in the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

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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