Scotiabank Upgrades B2Gold (TSE:BTO) to Strong-Buy

Key Points

• Scotiabank upgraded B2Gold to “strong buy”, while TD, Scotia and ATB Cormark also raised their ratings and price targets. Analysts have a consensus “Buy” rating and an average price target of C$9.33.
• B2Gold shares opened at C$7.04, compared with a 52-week range of C$4.81 to C$8.60, giving the stock potential upside toward analysts’ targets.
• The company reported C$1.12 billion in quarterly revenue, C$0.04 in earnings per share, a 21.20% net margin and a 21.87% return on equity. Insiders have sold 227,252 shares worth approximately C$1.4 million over the past 90 days.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG was upgraded by stock analysts at Scotiabank from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other research firms have also weighed in on BTO. TD upgraded B2Gold from a "hold" rating to a "buy" rating and lifted their target price for the stock from C$6.00 to C$8.50 in a report on Monday. Scotia upgraded B2Gold from a "sector perform" rating to a "sector outperform" rating and set a C$10.00 price objective on the stock in a report on Monday. ATB Cormark Capital Markets raised B2Gold from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from C$6.50 to C$11.00 in a research note on Monday. Finally, National Bank Financial dropped their target price on shares of B2Gold from C$10.70 to C$9.75 and set an "outperform" rating on the stock in a report on Tuesday, July 14th. Two equities research analysts have 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, B2Gold presently has a consensus rating of "Buy" and a consensus price target of C$9.33.

B2Gold Stock Up 0.1%

Shares of TSE:BTO opened at C$7.04 on Monday. B2Gold has a 52 week low of C$4.81 and a 52 week high of C$8.60. The company has a debt-to-equity ratio of 11.48, a quick ratio of 3.33 and a current ratio of 1.58. The company has a market capitalization of C$9.30 billion, a PE ratio of 18.53, a PEG ratio of -0.27 and a beta of 1.74. The company has a 50 day moving average price of C$5.69 and a two-hundred day moving average price of C$6.43.

B2Gold (TSE:BTO - Get Free Report) NYSE: BTG last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.04 earnings per share for the quarter. B2Gold had a net margin of 21.20% and a return on equity of 21.87%. The company had revenue of C$1.12 billion for the quarter. Analysts forecast that B2Gold will post 0.5596659 earnings per share for the current year.

Insider Activity at B2Gold

In other news, insider Randall Chatwin sold 67,857 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$6.33, for a total value of C$429,534.81. Following the sale, the insider owned 130,043 shares of the company's stock, valued at C$823,172.19. The trade was a 34.29% decrease in their ownership of the stock. Also, insider William Lytle sold 14,089 shares of the stock in a transaction on Friday, July 3rd. The stock was sold at an average price of C$5.88, for a total transaction of C$82,843.32. Following the transaction, the insider owned 218,475 shares of the company's stock, valued at C$1,284,633. The trade was a 6.06% decrease in their position. Over the last ninety days, insiders sold 227,252 shares of company stock worth $1,401,375. 0.66% of the stock is currently owned by corporate insiders.

B2Gold Company Profile

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and numerous development and exploration projects in various countries.

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