Amundi Reduces Holdings in B2Gold Corp $BTG

Key Points

• Amundi cut its B2Gold stake by 18.5% in the first quarter, selling 1.71 million shares and retaining 7.54 million shares worth approximately $34.1 million. Institutional investors and hedge funds collectively own 61.4% of the company.
• Analyst sentiment is mixed but leans neutral: Royal Bank of Canada and Jefferies lowered their price targets to $5.00 and $6.00, respectively. B2Gold has a consensus “Hold” rating and an average target price of $5.50.
• B2Gold reported strong quarterly results, with earnings of $0.19 per share versus expectations of $0.11 and revenue of $1.16 billion, up 117.7% year over year. Shares opened at $3.85, near the lower end of their 52-week range of $3.46 to $6.28.

Amundi lessened its stake in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 18.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,536,785 shares of the basic materials company's stock after selling 1,712,226 shares during the quarter. Amundi owned about 0.57% of B2Gold worth $34,142,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Intact Investment Management Inc. grew its position in shares of 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 period. Ruffer LLP acquired a new stake in B2Gold in the 4th quarter worth about $2,054,000. Easterly Investment Partners LLC grew its holdings in B2Gold by 3.9% in the 4th 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 period. Euro Pacific Asset Management LLC increased its stake in shares of B2Gold by 7.3% during the 1st 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 acquiring an additional 556,972 shares during the last quarter. Finally, Bank of Nova Scotia increased its stake in shares of B2Gold by 56.6% during 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 acquiring an additional 544,934 shares during the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a report on Thursday, July 9th. Jefferies Financial Group dropped their price target on shares of B2Gold from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, B2Gold has a consensus rating of "Hold" and an average target price of $5.50.

B2Gold Stock Performance

Shares of BTG stock opened at $3.85 on Tuesday. The company's fifty day simple moving average is $4.07 and its 200-day simple moving average is $4.66. B2Gold Corp has a 52 week low of $3.46 and a 52 week high of $6.28. The company has a current ratio of 1.19, a quick ratio of 0.59 and a debt-to-equity ratio of 0.13. The company has a market cap of $5.09 billion, a PE ratio of 10.69, a P/E/G ratio of 0.31 and a beta of 0.66.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.08. B2Gold had a net margin of 14.91% and a return on equity of 21.36%. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $893.41 million. During the same period in the prior year, the company earned $0.09 EPS. The firm's revenue was up 117.7% on a year-over-year basis. As a group, equities research analysts anticipate that B2Gold Corp will post 0.58 EPS for the current year.

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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