Connor Clark & Lunn Investment Management Ltd. acquired 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 Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,768,407 shares of the basic materials company's stock, valued at approximately $107,805,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 2.18% of B2Gold at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Pale Fire Capital SE grew its position in shares of B2Gold by 77.4% in the 1st 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 during the last quarter. Deutsche Bank AG purchased a new stake in B2Gold in the second quarter valued at $63,960,000. Norges Bank purchased a new stake in B2Gold in the fourth quarter valued at $75,333,000. Millennium Management LLC boosted its stake in B2Gold by 248.2% in the fourth quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company's stock valued at $105,264,000 after acquiring an additional 16,639,601 shares in the last quarter. Finally, Condire Management LP acquired a new position in B2Gold in the fourth quarter valued at $50,807,000. Hedge funds and other institutional investors own 61.40% of the company's stock.
B2Gold Stock Performance
NYSEAMERICAN BTG opened at $5.52 on Monday. The firm's fifty day moving average is $4.22 and its two-hundred day moving average is $4.65. B2Gold Corp has a one year low of $3.57 and a one year high of $6.28. 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 has a market cap of $7.29 billion, a PE ratio of 10.04, a P/E/G ratio of 0.38 and a beta of 0.66.
B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last announced its earnings results on Thursday, August 6th. The basic materials company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $836.33 million. During the same quarter last year, the company posted $0.12 EPS. B2Gold's quarterly revenue was up 14.0% on a year-over-year basis. Analysts expect that B2Gold Corp will post 0.49 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on BTG. Royal Bank Of Canada cut their target price on B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce raised B2Gold from a "hold" rating to an "outperform" rating and set a $7.50 target price for the company in a research report on Monday, August 10th. Scotiabank upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, August 10th. TD Securities raised B2Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Finally, ATB Cormark Capital Markets upgraded B2Gold from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 10th. One research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $6.17.
Get Our Latest Stock Report on B2Gold
About B2Gold
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO.
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