Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in B2Gold Corp. (NYSE:BTG)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in B2Gold Corp. by 62.8%, owning 7,499,738 shares after acquiring an additional 2,891,950 shares in the first quarter.
• B2Gold's recent quarterly earnings report showed an earnings per share of $0.12, which missed the consensus estimate by $0.01, despite a remarkable 40.5% increase in quarterly revenue compared to the previous year.
• Research analysts generally maintain a "Hold" rating on B2Gold, with an average target price of $4.31, though several recent upgrades have been made, including a "moderate buy" rating from Raymond James Financial.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in B2Gold Corp. (NYSE:BTG - Free Report) by 62.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,499,738 shares of the company's stock after buying an additional 2,891,950 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.57% of B2Gold worth $21,319,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Cantor Fitzgerald L. P. acquired a new stake in B2Gold in the 4th quarter worth about $25,000. Independent Wealth Network Inc. purchased a new position in shares of B2Gold in the first quarter valued at approximately $28,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of B2Gold in the fourth quarter worth approximately $30,000. Kercheville Advisors LLC acquired a new stake in shares of B2Gold in the first quarter worth approximately $31,000. Finally, Walker Asset Management LLC purchased a new stake in shares of B2Gold during the first quarter worth approximately $32,000. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Stock Performance

Shares of B2Gold stock opened at $3.58 on Friday. B2Gold Corp. has a one year low of $2.20 and a one year high of $3.84. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -7.46, a PEG ratio of 0.33 and a beta of 0.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.08 and a current ratio of 1.83. The business's 50 day moving average price is $3.58 and its 200 day moving average price is $3.14.

B2Gold (NYSE:BTG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). B2Gold had a negative net margin of 33.12% and a positive return on equity of 5.65%. The business's quarterly revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. On average, research analysts predict that B2Gold Corp. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. CIBC restated a "neutral" rating and issued a $4.00 price objective (up previously from $3.60) on shares of B2Gold in a report on Tuesday, July 15th. Raymond James Financial upgraded shares of B2Gold to a "moderate buy" rating and set a $4.50 price target on the stock in a research report on Monday, June 30th. Cormark raised shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, April 22nd. National Bankshares reiterated an "outperform" rating on shares of B2Gold in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded B2Gold from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $4.31.

About B2Gold

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.

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