B2Gold (NYSE:BTG) Given New $6.50 Price Target at CIBC

Key Points

• Investment analysts at CIBC have raised their price target for B2Gold (NYSE:BTG) from $4.50 to $6.50, indicating a potential upside of 28.33% from the stock's previous close.
• B2Gold's stock has experienced mixed ratings, with one analyst giving it a Strong Buy, others rating it as Buy or Hold, leading to a current consensus rating of Hold and an average target price of $6.25.
• The company recently reported earnings of $0.12 per share for the last quarter, missing estimates by $0.01 and showing a 40.5% year-over-year revenue increase.

B2Gold (NYSE:BTG - Get Free Report) had its target price boosted by investment analysts at CIBC from $4.50 to $6.50 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. CIBC's target price would indicate a potential upside of 28.33% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Raymond James Financial set a $6.00 target price on B2Gold and gave the stock an "outperform" rating in a research report on Friday. Zacks Research downgraded shares of B2Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of B2Gold in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $6.25.

B2Gold Stock Performance

BTG stock traded down $0.01 during midday trading on Friday, hitting $5.07. 19,019,549 shares of the company traded hands, compared to its average volume of 43,187,281. B2Gold has a twelve month low of $2.20 and a twelve month high of $5.40. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The business has a 50 day simple moving average of $4.30 and a 200-day simple moving average of $3.66. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of -10.53, a price-to-earnings-growth ratio of 0.33 and a beta of 0.45.

B2Gold (NYSE:BTG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). B2Gold had a negative net margin of 33.12% and a positive return on equity of 5.65%. The firm's revenue for the quarter was up 40.5% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. As a group, equities research analysts predict that B2Gold will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On B2Gold

Several institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of B2Gold in the 1st quarter valued at $278,000. Euro Pacific Asset Management LLC increased its position in shares of B2Gold by 19.3% in the second quarter. Euro Pacific Asset Management LLC now owns 6,953,735 shares of the company's stock valued at $25,105,000 after acquiring an additional 1,124,681 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in B2Gold by 58.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 188,530 shares of the company's stock worth $536,000 after buying an additional 69,177 shares during the last quarter. Amundi increased its holdings in shares of B2Gold by 33.3% in the first quarter. Amundi now owns 10,849,897 shares of the company's stock valued at $31,682,000 after purchasing an additional 2,710,857 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of B2Gold in the first quarter valued at approximately $2,342,000. Institutional investors and hedge funds own 61.40% of the company's stock.

B2Gold Company Profile

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.

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