Arrowstreet Capital Limited Partnership Sells 8,788,029 Shares of B2Gold Corp $BTG

Key Points

• Arrowstreet Capital sharply reduced its B2Gold stake by selling 8.79 million shares, an 84.3% position cut that left it with 1.64 million shares worth approximately $7.45 million.
• B2Gold reported a strong quarter, with earnings of $0.19 per share versus the $0.11 consensus estimate and revenue of $1.16 billion, up 117.7% year over year.
• BTG shares opened at $3.75, well below their 52-week high of $6.28. Analysts maintain a consensus “Hold” rating, with an average price target of $5.50.

Arrowstreet Capital Limited Partnership cut its position in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 84.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,640,517 shares of the basic materials company's stock after selling 8,788,029 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.12% of B2Gold worth $7,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of BTG. StoneX Group Inc. raised its stake in B2Gold by 2.1% in the fourth quarter. StoneX Group Inc. now owns 118,518 shares of the basic materials company's stock valued at $535,000 after purchasing an additional 2,490 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in B2Gold by 17.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 26,079 shares of the basic materials company's stock worth $118,000 after buying an additional 3,888 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in B2Gold by 17.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 28,432 shares of the basic materials company's stock worth $128,000 after buying an additional 4,236 shares in the last quarter. Advyzon Investment Management LLC increased its holdings in shares of B2Gold by 12.6% in the 4th quarter. Advyzon Investment Management LLC now owns 52,209 shares of the basic materials company's stock worth $235,000 after buying an additional 5,842 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its holdings in shares of B2Gold by 16.1% in the 1st quarter. Wealthfront Advisers LLC now owns 42,352 shares of the basic materials company's stock worth $192,000 after buying an additional 5,876 shares during the last quarter. 61.40% of the stock is owned by institutional investors.

B2Gold Price Performance

BTG stock opened at $3.75 on Friday. The firm has a market cap of $4.95 billion, a P/E ratio of 10.42, a P/E/G ratio of 0.31 and a beta of 0.66. The firm's fifty day moving average is $4.08 and its 200 day moving average is $4.66. B2Gold Corp has a 52 week low of $3.35 and a 52 week high of $6.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.59 and a current ratio of 1.19.

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

Analyst Upgrades and Downgrades

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

B2Gold Company 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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