B2Gold (TSE:BTO) Upgraded by Scotia to "Sector Outperform" Rating

Key Points

• Scotia upgraded B2Gold from “sector perform” to “sector outperform” and set a C$10.00 price target, implying 41.84% upside from the current price. TD also upgraded the stock to “buy,” while analysts’ consensus rating is “Moderate Buy” with a C$9.33 target.
• B2Gold shares rose 0.3% to C$7.05, with the company reporting quarterly revenue of C$1.12 billion, EPS of C$0.04, a 14.78% net margin and a 15.70% return on equity.
• Insiders have been selling shares: company insiders sold 227,252 shares worth approximately C$1.4 million over the past three months, while insiders retain a 0.66% ownership stake.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG was upgraded by investment analysts at Scotia from a "sector perform" rating to a "sector outperform" rating in a note issued to investors on Monday,BayStreet.CA reports. The firm currently has a C$10.00 target price on the stock. Scotia's price objective would indicate a potential upside of 41.84% from the company's current price.

Several other equities analysts have also recently weighed in on the company. TD upgraded B2Gold from a "hold" rating to a "buy" rating and raised their price objective for the company from C$6.00 to C$8.50 in a report on Monday. National Bank Financial dropped their target price on B2Gold from C$10.70 to C$9.75 and set an "outperform" rating on the stock in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, B2Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of C$9.33.

B2Gold Stock Up 0.3%

BTO traded up C$0.02 during trading hours on Monday, hitting C$7.05. 3,504,408 shares of the company's stock were exchanged, compared to its average volume of 6,164,595. B2Gold has a 1-year low of C$4.81 and a 1-year high of C$8.60. The stock's 50-day moving average is C$5.68 and its two-hundred day moving average is C$6.43. The stock has a market cap of C$9.31 billion, a price-to-earnings ratio of 18.55, a PEG ratio of -0.27 and a beta of 1.74. The company has a quick ratio of 3.33, a current ratio of 1.19 and a debt-to-equity ratio of 14.16.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.04 earnings per share (EPS) for the quarter. B2Gold had a net margin of 14.78% and a return on equity of 15.70%. The firm had revenue of C$1.12 billion for the quarter. Sell-side analysts predict that B2Gold will post 0.5596659 earnings per share for the current fiscal year.

Insider Buying and Selling at B2Gold

In other B2Gold news, insider Randall Chatwin sold 67,857 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$6.33, for a total transaction of C$429,534.81. Following the transaction, the insider owned 130,043 shares of the company's stock, valued at C$823,172.19. The trade was a 34.29% decrease in their ownership of the stock. Also, insider Peter Dominic Montano sold 61,254 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of C$6.51, for a total value of C$398,763.54. Following the completion of the sale, the insider owned 456 shares in the company, valued at C$2,968.56. This represents a 99.26% decrease in their position. Insiders have sold a total of 227,252 shares of company stock valued at $1,401,375 in the last three months. Corporate insiders own 0.66% of the company's stock.

B2Gold Company Profile

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and numerous development and exploration projects in various countries.

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