Public Employees Retirement System of Ohio Acquires Shares of 1,260,851 B2Gold Corp $BTG

Key Points

• Public Employees Retirement System of Ohio acquired 1,260,851 B2Gold shares worth approximately $4.7 million, giving it a 0.10% stake. Institutional investors collectively own 61.40% of the company.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $6.17, despite some target-price reductions and several recent upgrades.
• B2Gold reported quarterly EPS of $0.03, below the $0.07 consensus estimate, while revenue rose 14% year over year to $789.35 million, missing expectations of $836.33 million.

Public Employees Retirement System of Ohio bought a new position in shares of B2Gold Corp (NYSEAMERICAN:BTG - Free Report) TSE: BTO in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,260,851 shares of the basic materials company's stock, valued at approximately $4,728,000. Public Employees Retirement System of Ohio owned approximately 0.10% of B2Gold at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pale Fire Capital SE boosted its holdings 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 in the last quarter. Vanguard Group Inc. raised its stake in B2Gold by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 56,023,406 shares of the basic materials company's stock worth $252,273,000 after acquiring an additional 1,018,157 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in B2Gold by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company's stock valued at $151,630,000 after acquiring an additional 1,315,923 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in B2Gold in the second quarter valued at $107,805,000. Finally, 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. Hedge funds and other institutional investors own 61.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BTG shares. Jefferies Financial Group decreased their target price on B2Gold from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, July 6th. Scotiabank raised B2Gold from a "sector perform" rating to a "sector outperform" rating in a report on Monday, August 10th. ATB Cormark Capital Markets upgraded shares of B2Gold from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 10th. Royal Bank Of Canada cut their target price on shares of B2Gold from $5.75 to $5.00 and set a "sector perform" rating on the stock in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce upgraded shares of 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 equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $6.17.

B2Gold Price Performance

B2Gold stock opened at $5.41 on Thursday. The company has a market cap of $7.15 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.36 and a beta of 0.73. B2Gold Corp has a one year low of $3.57 and a one year high of $6.28. The business has a fifty day moving average of $4.43 and a two-hundred day moving average of $4.67. 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 (NYSEAMERICAN:BTG - Get Free Report) TSE: BTO last announced its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). B2Gold had a net margin of 21.47% and a return on equity of 17.05%. The firm had revenue of $789.35 million during the quarter, compared to analysts' expectations of $836.33 million. During the same quarter in the prior year, the business earned $0.12 EPS. The company's quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts predict that B2Gold Corp will post 0.49 earnings per share for the current fiscal 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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