B2Gold Corp $BTG Shares Sold by Amundi

Key Points

• Amundi reduced its B2Gold stake by 29.8% in the second quarter, selling 2.25 million shares and retaining 5.29 million shares worth approximately $19.8 million. Institutional investors and hedge funds collectively own 61.4% of the company.
• B2Gold reported quarterly earnings of $0.03 per share, below the $0.07 consensus estimate, while revenue of $789.35 million also missed expectations but increased 14% year over year.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and a $6.50 target price; shares recently opened at $5.38.

Amundi trimmed its holdings in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 29.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,289,451 shares of the basic materials company's stock after selling 2,247,334 shares during the period. Amundi owned 0.40% of B2Gold worth $19,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in BTG. Two Sigma Securities LLC boosted its position in shares of B2Gold by 341.9% in the second quarter. Two Sigma Securities LLC now owns 236,275 shares of the basic materials company's stock worth $884,000 after buying an additional 182,811 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in B2Gold by 6.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 288,790 shares of the basic materials company's stock worth $1,080,000 after acquiring an additional 18,536 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in B2Gold in the 2nd quarter worth approximately $1,524,000. Public Employees Retirement System of Ohio purchased a new stake in shares of B2Gold during the second quarter valued at approximately $4,728,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of B2Gold during the second quarter worth $731,000. 61.40% of the stock is currently owned by institutional investors and hedge funds.

B2Gold Stock Performance

Shares of BTG opened at $5.38 on Friday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.37 and a beta of 0.73. B2Gold Corp has a 12-month low of $3.57 and a 12-month high of $6.28. The firm's 50 day moving average is $4.66 and its 200-day moving average is $4.68. 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 (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last released its quarterly earnings data on Thursday, August 6th. The basic materials company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). The company had revenue of $789.35 million for the quarter, compared to the consensus estimate of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The business's revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. Equities research analysts anticipate that B2Gold Corp will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BTG shares. Raymond James Financial lifted their price target on shares of B2Gold from $7.25 to $7.50 and gave the stock an "outperform" rating in a research note on Friday, September 4th. Jefferies Financial Group cut their price target on B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Canadian Imperial Bank of Commerce upgraded B2Gold from a "hold" rating to an "outperform" rating and set a $7.50 price objective for the company in a research note on Monday, August 10th. ATB Cormark Capital Markets raised shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 10th. Finally, Scotiabank upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $6.50.

B2Gold Company Profile

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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