B2Gold Corp (NYSEAMERICAN:BTG) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• B2Gold has a consensus “Buy” rating from seven analysts: five buys, one strong buy, and one hold. The average 12-month price target is $6.81.
• Institutional ownership stands at 61.4%, with several major investors increasing or initiating positions, including Pale Fire Capital, Dimensional Fund Advisors, Deutsche Bank, and Norges Bank.
• The stock recently traded at $5.34, up 1.1%, while quarterly results fell short of expectations: EPS was $0.03 versus a $0.07 consensus estimate and revenue was $789.35 million versus $836.33 million expected.

B2Gold Corp (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO has earned an average recommendation of "Buy" from the seven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $6.81.

A number of brokerages have issued reports on BTG. Jefferies Financial Group decreased their target price on shares of B2Gold from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Scotiabank upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating in a report on Monday, August 10th. TD Securities raised B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce upgraded 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. Finally, ATB Cormark Capital Markets upgraded B2Gold from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 10th.

Institutional Trading of B2Gold

Institutional investors have recently added to or reduced their stakes in the business. Pale Fire Capital SE increased its stake in shares of B2Gold by 77.4% during the 1st quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company's stock worth $315,923,000 after purchasing an additional 30,428,530 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of B2Gold by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company's stock worth $151,630,000 after buying an additional 1,315,923 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of B2Gold in the second quarter worth about $107,805,000. Deutsche Bank AG bought a new stake in shares of B2Gold during the 2nd quarter worth about $63,960,000. Finally, Norges Bank acquired a new position in shares of B2Gold during the 4th quarter valued at about $75,333,000. 61.40% of the stock is currently owned by institutional investors and hedge funds.

B2Gold Trading Up 1.1%

NYSEAMERICAN:BTG opened at $5.34 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.58. B2Gold has a fifty-two week low of $3.57 and a fifty-two week high of $6.28. The stock's 50-day moving average is $5.03 and its two-hundred day moving average is $4.65. The stock has a market cap of $7.05 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.36 and a beta of 0.73.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last posted 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 17.05% and a net margin of 21.47%.The company had revenue of $789.35 million during the quarter, compared to analysts' expectations of $836.33 million. During the same period last year, the company earned $0.12 earnings per share. B2Gold's revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that B2Gold will post 0.49 earnings per share for the current fiscal year.

About B2Gold

B2Gold Corp. is a Canadian-based gold producer engaged in the exploration, development, and operation of gold mines. The company produces gold doré and sells its output to refiners and other customers. Its portfolio includes the Fekola complex in Mali, the Masbate mine in the Philippines, and the Otjikoto mine in Namibia.

Founded in 2007 by former executives of Bema Gold Corporation, B2Gold has grown from an exploration and development company into an international gold producer. In addition to operating mines, the company conducts exploration and evaluates development opportunities intended to expand and sustain its production base.

B2Gold is headquartered in Vancouver, British Columbia, and has operations and projects across Africa, Asia, and other regions.

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