BlackRock Inc. Makes New $5.27 Million Investment in B2Gold Corp $BTG

Key Points

• BlackRock acquired 1.41 million B2Gold shares worth approximately $5.27 million during the second quarter, giving it a 0.11% stake. Institutional investors collectively own 61.4% of the company.
• Analysts remain broadly positive, with B2Gold holding a consensus “Buy” rating and an average price target of $6.50, despite some target reductions and a range of updated recommendations.
• B2Gold’s latest quarter missed expectations, reporting $0.03 in earnings per share versus the $0.07 consensus and revenue of $789.35 million versus estimates of $836.33 million; however, revenue increased 14% year over year.

BlackRock Inc. purchased a new position in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,408,302 shares of the basic materials company's stock, valued at approximately $5,267,000. BlackRock Inc. owned about 0.11% of B2Gold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of BTG. Deutsche Bank AG acquired a new stake in B2Gold in the 2nd quarter worth approximately $63,960,000. Persistent Asset Partners Ltd acquired a new position in B2Gold during the 2nd quarter valued at approximately $781,000. Alberta Investment Management Corp purchased a new position in shares of B2Gold in the second quarter worth $1,346,000. Bank of New York Mellon Corp purchased a new position in shares of B2Gold in the second quarter worth $1,239,000. Finally, Centric Wealth Management purchased a new position in shares of B2Gold in the second quarter worth $86,000. Institutional investors and hedge funds own 61.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BTG shares. Royal Bank Of Canada dropped their price objective on shares of B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a report on Thursday, July 9th. Scotiabank upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, August 10th. ATB Cormark Capital Markets raised B2Gold from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 10th. Jefferies Financial Group dropped their price target on B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Finally, Raymond James Financial boosted their price target on B2Gold from $7.25 to $7.50 and gave the company an "outperform" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, B2Gold presently has a consensus rating of "Buy" and an average price target of $6.50.

B2Gold Stock Performance

BTG opened at $5.61 on Friday. 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 12-month low of $3.57 and a 12-month high of $6.28. The firm has a 50 day moving average of $4.50 and a two-hundred day moving average of $4.68. The firm has a market capitalization of $7.41 billion, a PE ratio of 10.20, a P/E/G ratio of 0.38 and a beta of 0.73.

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 for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The business had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. During the same quarter in the previous year, the company earned $0.12 EPS. The firm's revenue was up 14.0% compared to the same quarter last year. On average, analysts anticipate that B2Gold Corp will post 0.49 EPS for the current 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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