Bank of New York Mellon Corp Buys New Shares in B2Gold Corp $BTG

Key Points

• Bank of New York Mellon purchased 331,411 B2Gold shares worth approximately $1.24 million during the second quarter. Institutional investors collectively own 61.4% of the company.
• B2Gold shares opened at $5.54, with a 52-week range of $3.57 to $6.28 and a market capitalization of approximately $7.32 billion.
• The company missed quarterly earnings and revenue estimates, reporting $0.03 in EPS and $789.35 million in revenue, but analysts maintain a generally positive outlook with an average “Buy” rating and a $6.50 price target.

Bank of New York Mellon Corp purchased a new stake in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 331,411 shares of the basic materials company's stock, valued at approximately $1,239,000.

A number of other hedge funds also recently modified their holdings of the company. Pale Fire Capital SE increased its position in shares of 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 purchasing an additional 30,428,530 shares during the period. Norges Bank bought a new stake in B2Gold in the 4th quarter valued at $75,333,000. Millennium Management LLC raised its stake in shares of B2Gold by 248.2% in the 4th quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company's stock valued at $105,264,000 after buying an additional 16,639,601 shares in the last quarter. Condire Management LP bought a new position in shares of B2Gold during the 4th quarter worth about $50,807,000. Finally, Marshall Wace LLP boosted its position in shares of B2Gold by 1,124.3% during the 4th quarter. Marshall Wace LLP now owns 8,556,658 shares of the basic materials company's stock valued at $38,591,000 after acquiring an additional 7,857,774 shares in the last quarter. Institutional investors own 61.40% of the company's stock.

B2Gold Stock Performance

Shares of NYSEAMERICAN:BTG opened at $5.54 on Thursday. 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 Corp has a 1-year low of $3.57 and a 1-year high of $6.28. The stock has a market capitalization of $7.32 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.37 and a beta of 0.73. The business has a 50-day moving average price of $4.60 and a two-hundred day moving average price of $4.68.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). The business had revenue of $789.35 million for the quarter, compared to analyst estimates of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The firm's quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. Equities analysts predict that B2Gold Corp will post 0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

BTG has been the subject of several recent research reports. Jefferies Financial Group dropped their price target on shares of B2Gold from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada cut their target price on B2Gold from $5.75 to $5.00 and set a "sector perform" rating for the company in a research report on Thursday, July 9th. TD Securities upgraded B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Scotiabank raised B2Gold from a "sector perform" rating to a "sector outperform" rating in a report on Monday, August 10th. Finally, ATB Cormark Capital Markets upgraded shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $6.50.

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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