Groupe la Francaise Acquires 650,000 Shares of B2Gold Corp $BTG

Key Points

• Groupe la Francaise increased its B2Gold position by 56.5% in the first quarter, purchasing 650,000 shares to hold 1.8 million shares valued at approximately $8.15 million.
• Institutional investors own 61.4% of B2Gold, while analysts maintain a consensus “Hold” rating and have reduced the average price target to $5.50.
• B2Gold shares opened at $3.75, down 2.6%, despite the company reporting quarterly EPS of $0.19 versus the $0.11 estimate and revenue growth of 117.7% year over year.

Groupe la Francaise boosted its holdings in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO by 56.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,800,000 shares of the basic materials company's stock after buying an additional 650,000 shares during the period. Groupe la Francaise owned approximately 0.13% of B2Gold worth $8,151,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BTG. Northwestern Mutual Wealth Management Co. purchased a new stake in B2Gold in the 4th quarter valued at $45,000. DGS Capital Management LLC purchased a new position in B2Gold during the 1st quarter worth $50,000. Ascentis Independent Advisors bought a new stake in shares of B2Gold in the 1st quarter worth $50,000. Parkway Wealth Management Group LLC bought a new stake in shares of B2Gold in the 1st quarter worth $51,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of B2Gold in the 4th quarter worth $55,000. 61.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on BTG shares. Jefferies Financial Group dropped their price target on shares of B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada dropped their target price on shares of B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, B2Gold currently has a consensus rating of "Hold" and an average target price of $5.50.

B2Gold Stock Down 2.6%

B2Gold stock opened at $3.75 on Friday. The firm has a 50 day simple moving average of $4.08 and a 200 day simple moving average of $4.66. The company has a current ratio of 1.19, a quick ratio of 0.59 and a debt-to-equity ratio of 0.13. B2Gold Corp has a 1-year low of $3.35 and a 1-year high of $6.28. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.31 and a beta of 0.66.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. B2Gold had a return on equity of 21.36% and a net margin of 14.91%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $893.41 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The business's quarterly revenue was up 117.7% on a year-over-year basis. On average, analysts predict that B2Gold Corp will post 0.58 earnings per share for the current year.

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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