B2Gold Corp $BTG Shares Sold by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates LLC cut its B2Gold stake by 96.7% in the first quarter, selling 1,338,500 shares and leaving it with 45,800 shares valued at about $207,000.
• B2Gold reported a strong latest quarter, with EPS of $0.19 versus $0.11 expected and revenue of $1.16 billion, up 117.7% year over year.
• Despite the earnings beat, analysts remain cautious: the stock has a Hold consensus rating and an average price target of $5.50, while shares recently traded at $3.79.

Zweig DiMenna Associates LLC trimmed its holdings in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 96.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 45,800 shares of the basic materials company's stock after selling 1,338,500 shares during the period. Zweig DiMenna Associates LLC's holdings in B2Gold were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new position in B2Gold in the 4th quarter valued at about $45,000. DGS Capital Management LLC acquired a new stake in B2Gold during the 1st quarter worth approximately $50,000. Ascentis Independent Advisors acquired a new stake in B2Gold during the 1st quarter worth approximately $50,000. Parkway Wealth Management Group LLC purchased a new position in shares of B2Gold in the 1st quarter valued at approximately $51,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of B2Gold in the 4th quarter valued at approximately $55,000. Institutional investors and hedge funds own 61.40% of the company's stock.

B2Gold Stock Performance

NYSEAMERICAN BTG opened at $3.79 on Wednesday. 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 business's 50 day moving average is $4.38 and its two-hundred day moving average is $4.73. B2Gold Corp has a 12-month low of $3.31 and a 12-month high of $6.28. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.30 and a beta of 0.66.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 21.36% and a net margin of 14.91%.The company's revenue for the quarter was up 117.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. Research analysts expect that B2Gold Corp will post 0.62 EPS for the current year.

Wall Street Analyst Weigh In

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