Bank of America Corp DE Buys Shares of 8,552,263 B2Gold Corp $BTG

Key Points

• Bank of America acquired 8.55 million B2Gold shares worth approximately $32.0 million, giving it a 0.65% stake. Institutional investors collectively own 61.4% of the company.
• B2Gold’s shares opened at $5.58, within a 12-month range of $3.57 to $6.28. The company recently missed quarterly earnings and revenue estimates, despite reporting 14% year-over-year revenue growth.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $6.81 price target; recent price targets range from $6.00 to $7.50.

Bank of America Corp DE acquired a new position in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,552,263 shares of the basic materials company's stock, valued at approximately $31,985,000. Bank of America Corp DE owned 0.65% of B2Gold at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Pale Fire Capital SE boosted its stake in B2Gold by 77.4% during the first quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company's stock valued at $315,923,000 after buying an additional 30,428,530 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of B2Gold by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company's stock valued at $151,630,000 after acquiring an additional 1,315,923 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of B2Gold in the second quarter valued at $107,805,000. Norges Bank purchased a new stake in B2Gold in the 4th quarter worth about $75,333,000. Finally, Deutsche Bank AG purchased a new stake in shares of B2Gold in the second quarter worth approximately $63,960,000. Institutional investors and hedge funds own 61.40% of the company's stock.

B2Gold Stock Performance

Shares of BTG opened at $5.58 on Wednesday. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 10.15, a PEG 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 has a fifty day simple moving average of $4.86 and a 200 day simple moving average of $4.65. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). The business had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. B2Gold had a net margin of 21.47% and a return on equity of 17.05%. The business's quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. Research analysts forecast that B2Gold Corp will post 0.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. ATB Cormark Capital Markets upgraded B2Gold from a "hold" rating to a "moderate buy" rating in a report on Monday, August 10th. 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. Royal Bank Of Canada lifted their price objective on B2Gold from $5.00 to $6.25 and gave the stock a "sector perform" rating in a report on Wednesday, September 16th. Canadian Imperial Bank of Commerce raised shares of B2Gold from a "hold" rating to an "outperform" rating and set a $7.50 target price on the stock in a research note on Monday, August 10th. Finally, Raymond James Financial upped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $6.81.

About B2Gold

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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