Alberta Investment Management Corp Acquires New Holdings in B2Gold Corp $BTG

Key Points

• Alberta Investment Management Corp acquired 359,149 B2Gold shares in the second quarter, valued at approximately $1.35 million. Institutional investors collectively own 61.4% of the company.
• B2Gold reported quarterly revenue of $789.35 million, up 14% year over year, but earnings per share of $0.03 fell short of the $0.07 analyst consensus.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $6.17, compared with the stock’s reported opening price of $5.20.

Alberta Investment Management Corp acquired a new position in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 359,149 shares of the basic materials company's stock, valued at approximately $1,346,000.

Other hedge funds also recently bought and sold shares of the company. Intact Investment Management Inc. grew its stake in B2Gold by 5,130.6% in the fourth quarter. Intact Investment Management Inc. now owns 1,642,400 shares of the basic materials company's stock valued at $7,395,000 after purchasing an additional 1,611,000 shares during the last quarter. Ruffer LLP bought a new position in B2Gold in the fourth quarter worth about $2,054,000. Easterly Investment Partners LLC lifted its position in shares of B2Gold by 3.9% during the fourth quarter. Easterly Investment Partners LLC now owns 2,934,687 shares of the basic materials company's stock valued at $13,235,000 after buying an additional 109,076 shares during the last quarter. Euro Pacific Asset Management LLC lifted its position in shares of B2Gold by 7.3% during the first quarter. Euro Pacific Asset Management LLC now owns 8,141,222 shares of the basic materials company's stock valued at $36,773,000 after buying an additional 556,972 shares during the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of B2Gold by 56.6% in the 1st quarter. Bank of Nova Scotia now owns 1,507,589 shares of the basic materials company's stock valued at $6,848,000 after buying an additional 544,934 shares in the last quarter. Hedge funds and other institutional investors own 61.40% of the company's stock.

B2Gold Price Performance

NYSEAMERICAN:BTG opened at $5.20 on Tuesday. B2Gold Corp has a one year low of $3.57 and a one year high of $6.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.58 and a current ratio of 1.58. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.34 and a beta of 0.66. The firm's fifty day moving average is $4.12 and its two-hundred day moving average is $4.65.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last issued its earnings results on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). The company had revenue of $789.35 million during the quarter, compared to analysts' expectations of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The firm's quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.12 EPS. Research analysts expect that B2Gold Corp will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on BTG shares. Jefferies Financial Group reduced their price target on B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. TD Securities raised shares of B2Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Royal Bank Of Canada lowered their price objective on shares of B2Gold from $5.75 to $5.00 and set a "sector perform" rating for the company in a research note on Thursday, July 9th. Scotiabank upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, August 10th. Finally, ATB Cormark Capital Markets raised B2Gold from a "hold" rating to a "moderate buy" rating in a report on Monday, August 10th. One 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. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $6.17.

B2Gold 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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