Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 358,816 B2Gold Corp $BTG

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 358,816 B2Gold shares worth approximately $1.63 million, while institutional investors overall own 61.4% of the company.
• Analyst sentiment remains cautious: Jefferies and RBC lowered their price targets, and the stock carries an average “Hold” rating with a $5.50 target.
• B2Gold shares recently traded at $3.75, down 2.6%; the company exceeded first-quarter earnings and revenue expectations, reporting $0.19 EPS and $1.16 billion in revenue, up 117.7% year over year.

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 358,816 shares of the basic materials company's stock, valued at approximately $1,630,000.

Several other institutional investors and hedge funds have also modified their holdings of BTG. StoneX Group Inc. grew its position in B2Gold by 2.1% in the fourth quarter. StoneX Group Inc. now owns 118,518 shares of the basic materials company's stock valued at $535,000 after acquiring an additional 2,490 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in B2Gold by 17.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 26,079 shares of the basic materials company's stock worth $118,000 after purchasing an additional 3,888 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in B2Gold by 17.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 28,432 shares of the basic materials company's stock valued at $128,000 after purchasing an additional 4,236 shares during the last quarter. Advyzon Investment Management LLC grew its stake in shares of B2Gold by 12.6% during the fourth quarter. Advyzon Investment Management LLC now owns 52,209 shares of the basic materials company's stock worth $235,000 after buying an additional 5,842 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its stake in shares of B2Gold by 16.1% during the first quarter. Wealthfront Advisers LLC now owns 42,352 shares of the basic materials company's stock worth $192,000 after buying an additional 5,876 shares during the last quarter. 61.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BTG. Jefferies Financial Group dropped their price target on B2Gold from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada reduced their price objective 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. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $5.50.

B2Gold Trading Down 2.6%

BTG opened at $3.75 on Friday. B2Gold Corp has a fifty-two week low of $3.35 and a fifty-two week high of $6.28. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 0.59. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 0.31 and a beta of 0.66. The company's 50 day moving average price is $4.08 and its two-hundred day moving average price is $4.66.

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