B2Gold Corp $BTG Stock Position Increased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its B2Gold position by 56.6% in the first quarter, adding 544,934 shares to hold 1.51 million shares worth approximately $6.85 million. Institutional investors collectively own 61.4% of the company.
• B2Gold reported first-quarter earnings of $0.19 per share, beating estimates of $0.11, while revenue rose 117.7% year over year to $1.16 billion. Analysts expect full-year EPS of $0.58.
• BTG shares opened at $3.87, below their 50-day and 200-day moving averages. Analyst sentiment is generally neutral, with an average “Hold” rating and a consensus price target of $5.50.

Bank of Nova Scotia raised its position in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 56.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,507,589 shares of the basic materials company's stock after purchasing an additional 544,934 shares during the period. Bank of Nova Scotia owned 0.11% of B2Gold worth $6,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BTG. First Trust Advisors LP increased its position in B2Gold by 22.7% in the 1st quarter. First Trust Advisors LP now owns 714,188 shares of the basic materials company's stock valued at $3,244,000 after acquiring an additional 132,263 shares during the period. Cadence Wealth Management LLC grew its stake in shares of B2Gold by 32.1% in the first quarter. Cadence Wealth Management LLC now owns 300,199 shares of the basic materials company's stock worth $1,360,000 after purchasing an additional 72,881 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of B2Gold by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company's stock worth $151,630,000 after purchasing an additional 1,315,923 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of B2Gold during the first quarter valued at $149,000. Finally, Euro Pacific Asset Management LLC raised its stake in shares of B2Gold by 7.3% during the first quarter. Euro Pacific Asset Management LLC now owns 8,141,222 shares of the basic materials company's stock valued at $36,773,000 after purchasing an additional 556,972 shares in the last quarter. Institutional investors own 61.40% of the company's stock.

B2Gold Stock Performance

Shares of BTG opened at $3.87 on Tuesday. The firm's 50 day moving average is $4.15 and its 200-day moving average is $4.68. The stock has a market capitalization of $5.11 billion, a P/E ratio of 10.75, a P/E/G ratio of 0.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 0.59. B2Gold Corp has a 12-month low of $3.31 and a 12-month high of $6.28.

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

Wall Street Analyst Weigh In

BTG has been the topic of several research analyst reports. Royal Bank Of Canada lowered their target price on shares of B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group decreased their price objective on shares of B2Gold from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday, July 6th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus 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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