B2Gold (NYSEAMERICAN:BTG) Rating Increased to Strong-Buy at TD Securities

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) was upgraded by equities researchers at TD Securities from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of B2Gold from $5.75 to $5.00 and set a “sector perform” rating for the company in a research note on Thursday, July 9th. 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 note on Monday, July 6th. ATB Cormark Capital Markets raised B2Gold from a “hold” rating to a “moderate buy” rating in a report on Monday. Canadian Imperial Bank of Commerce upgraded B2Gold from a “neutral” rating to an “outperform” rating and set a $7.50 price objective for the company in a research report on Monday. Finally, Scotiabank raised B2Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, B2Gold currently has a consensus rating of “Buy” and an average target price of $6.17.

B2Gold Stock Performance

BTG stock opened at $5.06 on Monday. B2Gold has a 1 year low of $3.48 and a 1 year high of $6.28. The stock has a market capitalization of $6.68 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.41 and a beta of 0.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.59 and a current ratio of 1.19. The stock’s fifty day moving average is $4.05 and its two-hundred day moving average is $4.65.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its quarterly 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). B2Gold had a return on equity of 17.56% and a net margin of 21.47%.The firm had revenue of $789.35 million for the quarter, compared to the consensus estimate of $836.33 million. During the same quarter in the prior year, the company posted $0.12 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. On average, research analysts predict that B2Gold will post 0.58 EPS for the current year.

Institutional Trading of B2Gold

A number of institutional investors have recently made changes to their positions in the stock. Intact Investment Management Inc. lifted its holdings in shares of B2Gold by 5,130.6% in the fourth quarter. Intact Investment Management Inc. now owns 1,642,400 shares of the basic materials company’s stock valued at $7,395,000 after buying an additional 1,611,000 shares during the period. Ruffer LLP acquired a new position in B2Gold during the fourth quarter worth about $2,054,000. Easterly Investment Partners LLC grew its holdings in B2Gold by 3.9% during the fourth quarter. Easterly Investment Partners LLC now owns 2,934,687 shares of the basic materials company’s stock worth $13,235,000 after acquiring an additional 109,076 shares during the period. Euro Pacific Asset Management LLC raised its position in B2Gold by 7.3% in the first quarter. Euro Pacific Asset Management LLC now owns 8,141,222 shares of the basic materials company’s stock worth $36,773,000 after acquiring an additional 556,972 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in B2Gold by 56.6% in the first quarter. Bank of Nova Scotia now owns 1,507,589 shares of the basic materials company’s stock worth $6,848,000 after acquiring an additional 544,934 shares in the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

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.