Man Group plc Acquires New Position in B2Gold Corp $BTG

Key Points

• Man Group acquired 2.47 million B2Gold shares worth approximately $9.25 million in the second quarter, representing about 0.19% of the company. Institutional investors and hedge funds collectively own 61.4% of B2Gold.
• B2Gold’s latest quarterly results missed expectations, with earnings of $0.03 per share versus the $0.07 consensus estimate and revenue of $789.35 million versus $836.33 million expected, although revenue increased 14% year over year.
• Analyst sentiment remains positive: B2Gold has a consensus “Buy” rating and an average price target of $6.17, despite the stock trading down 2.9% and recently opening at $5.66.

Man Group plc purchased a new stake in B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO in the second quarter, according to its most recent filing with the SEC. The fund purchased 2,470,474 shares of the basic materials company's stock, valued at approximately $9,245,000. Man Group plc owned about 0.19% of B2Gold at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in B2Gold in the second quarter worth $37,000. Sanctuary Advisors LLC acquired a new position in B2Gold during the 2nd quarter valued at about $41,000. GSA Capital Partners LLP bought a new position in B2Gold in the 2nd quarter worth approximately $43,000. Ascentis Independent Advisors bought a new stake in shares of B2Gold during the first quarter valued at about $50,000. Finally, DGS Capital Management LLC bought a new stake in shares of B2Gold during the 1st quarter worth about $50,000. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Trading Down 2.9%

NYSEAMERICAN BTG opened at $5.66 on Friday. The firm's 50 day moving average price is $4.35 and its two-hundred day moving average price is $4.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.58 and a current ratio of 1.58. B2Gold Corp has a twelve month low of $3.57 and a twelve month high of $6.28. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 0.40 and a beta of 0.66.

B2Gold (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last issued its earnings results on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). The business had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The business's quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. Equities analysts anticipate that B2Gold Corp will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BTG shares. Jefferies Financial Group lowered their target price on B2Gold from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, July 6th. ATB Cormark Capital Markets upgraded B2Gold from a "hold" rating to a "moderate buy" rating in a report on Monday, August 10th. Scotiabank raised B2Gold from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, August 10th. TD Securities raised B2Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce upgraded B2Gold from a "hold" rating to an "outperform" rating and set a $7.50 price target for the company in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $6.17.

About B2Gold

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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