B2Gold Corp $BTG Shares Purchased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio nearly doubled its B2Gold stake in the first quarter, acquiring 515,069 additional shares to hold 1.06 million shares valued at approximately $4.8 million.
• B2Gold reported strong quarterly results, with EPS of $0.19 versus the $0.11 consensus estimate and revenue of $1.16 billion, up 117.7% year over year.
• Shares traded at $3.74, down 2.6%, while analysts maintained a consensus “Hold” rating with an average price target of $5.50 after recent target-price reductions.

Public Employees Retirement System of Ohio lifted its stake in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 94.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,059,676 shares of the basic materials company's stock after acquiring an additional 515,069 shares during the period. Public Employees Retirement System of Ohio owned 0.08% of B2Gold worth $4,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BTG. Northwestern Mutual Wealth Management Co. bought a new stake in B2Gold during the fourth quarter worth approximately $45,000. Parkway Wealth Management Group LLC bought a new position in B2Gold during the 1st quarter valued at $51,000. DGS Capital Management LLC acquired a new position in shares of B2Gold during the 1st quarter valued at $50,000. Ascentis Independent Advisors acquired a new position in shares of B2Gold during the 1st quarter valued at $50,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of B2Gold in the 4th quarter worth $55,000. 61.40% of the stock is currently owned by institutional investors.

B2Gold Trading Down 2.6%

NYSEAMERICAN:BTG opened at $3.74 on Thursday. The stock has a fifty day simple moving average of $4.11 and a 200 day simple moving average of $4.68. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 0.31 and a beta of 0.66. B2Gold Corp has a 1-year low of $3.31 and a 1-year high of $6.28. The company has a quick ratio of 0.59, a current ratio of 1.19 and a debt-to-equity ratio of 0.13.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BTG shares. Royal Bank Of Canada decreased their target price on B2Gold from $5.75 to $5.00 and set a "sector perform" rating for the company in a research note on Thursday, July 9th. 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 note 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. According to MarketBeat, B2Gold currently has a consensus rating of "Hold" and an average price target of $5.50.

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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