Bank of Nova Scotia Takes $2.29 Million Position in B2Gold Corp $BTG

Key Points

• Bank of Nova Scotia acquired 610,853 B2Gold shares during the second quarter, valued at approximately $2.29 million. Institutional investors now own 61.4% of the company.
• Analyst sentiment is broadly positive: B2Gold has a consensus “Buy” rating and an average price target of $6.17, although several analysts recently lowered their targets.
• B2Gold’s latest quarterly results missed expectations, with EPS of $0.03 versus $0.07 expected and revenue of $789.35 million versus $836.33 million projected; revenue nevertheless rose 14% year over year.

Bank of Nova Scotia bought a new stake in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 610,853 shares of the basic materials company's stock, valued at approximately $2,291,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BTG. Northwestern Mutual Wealth Management Co. bought a new stake in B2Gold in the 2nd quarter valued at $37,000. Parkway Wealth Management Group LLC bought a new position in shares of B2Gold during the 1st quarter worth about $51,000. DGS Capital Management LLC acquired a new stake in shares of B2Gold during the 1st quarter valued at about $50,000. Ascentis Independent Advisors acquired a new stake in shares of B2Gold during the 1st quarter valued at about $50,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of B2Gold during the 2nd quarter valued at about $43,000. 61.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on BTG shares. ATB Cormark Capital Markets raised shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 10th. Jefferies Financial Group decreased their price objective on B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Canadian Imperial Bank of Commerce upgraded B2Gold from a "hold" rating to an "outperform" rating and set a $7.50 price objective on the stock in a research note on Monday, August 10th. Royal Bank Of Canada dropped 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. Finally, Scotiabank upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $6.17.

B2Gold Stock Down 2.2%

BTG opened at $5.74 on Thursday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.40 and a beta of 0.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.58 and a current ratio of 1.58. The firm's 50-day simple moving average is $4.29 and its 200-day simple moving average is $4.66. B2Gold Corp has a twelve month low of $3.57 and a twelve month high of $6.28.

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

B2Gold 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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