B2Gold Corp $BTG Shares Sold by Van ECK Associates Corp

Key Points

• VanEck reduced its B2Gold stake by 4.5% in the second quarter, selling 4.25 million shares while retaining 91.1 million shares valued at approximately $340.8 million, or a 6.9% ownership interest.
• B2Gold reported quarterly revenue of $789.35 million, up 14% year over year, but missed earnings and revenue estimates with EPS of $0.03 versus the $0.07 consensus forecast.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $6.17, despite some analysts lowering targets.

Van ECK Associates Corp lessened its holdings in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,117,587 shares of the basic materials company's stock after selling 4,251,647 shares during the quarter. Van ECK Associates Corp owned 6.90% of B2Gold worth $340,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of B2Gold in the 2nd quarter valued at approximately $37,000. Parkway Wealth Management Group LLC purchased a new stake in shares of B2Gold in the first quarter valued at approximately $51,000. Sanctuary Advisors LLC acquired a new position in B2Gold during the second quarter worth $41,000. DGS Capital Management LLC acquired a new position in B2Gold during the first quarter worth $50,000. Finally, Ascentis Independent Advisors purchased a new position in B2Gold in the first quarter worth $50,000. Institutional investors and hedge funds own 61.40% of the company's stock.

B2Gold Stock Performance

NYSEAMERICAN BTG opened at $5.66 on Friday. The business has a 50 day moving average price of $4.35 and a 200 day moving average price of $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. The company has a market capitalization of $7.48 billion, a P/E ratio of 10.29, a PEG ratio of 0.40 and a beta of 0.66. B2Gold Corp has a 1-year low of $3.57 and a 1-year high of $6.28.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last posted its earnings results 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). B2Gold had a net margin of 21.47% and a return on equity of 17.05%. The firm had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. During the same period last year, the company posted $0.12 EPS. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. Sell-side analysts expect that B2Gold Corp will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank Of Canada reduced their target price on B2Gold from $5.75 to $5.00 and set a "sector perform" rating for the company in a report on Thursday, July 9th. Jefferies Financial Group lowered their price target 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. Canadian Imperial Bank of Commerce upgraded shares of B2Gold from a "hold" rating to an "outperform" rating and set a $7.50 price target for the company in a report on Monday, August 10th. Scotiabank upgraded shares of B2Gold from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, August 10th. Finally, TD Securities raised shares of B2Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $6.17.

About B2Gold

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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