Man Group plc Takes Position in B2Gold Corp $BTG

Man Group plc purchased a new position in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) during the second quarter, Holdings Channel.com reports. The firm purchased 2,470,474 shares of the basic materials company’s stock, valued at approximately $9,245,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BTG. Pale Fire Capital SE increased its position in 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 worth $315,923,000 after purchasing an additional 30,428,530 shares during the last quarter. Vanguard Group Inc. raised its position in B2Gold by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 56,023,406 shares of the basic materials company’s stock valued at $252,273,000 after acquiring an additional 1,018,157 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake 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. acquired a new stake in B2Gold in the second quarter valued at approximately $107,805,000. Finally, Millennium Management LLC increased its stake in shares of B2Gold by 248.2% during the 4th quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company’s stock worth $105,264,000 after purchasing an additional 16,639,601 shares during the last quarter. Hedge funds and other institutional investors own 61.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Canadian Imperial Bank of Commerce upgraded B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 price target on the stock in a report on Monday, August 10th. Scotiabank raised shares of B2Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, August 10th. TD Securities upgraded shares of B2Gold from a “hold” rating to a “strong-buy” rating in a 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 for the company in a research report on Thursday, July 9th. Finally, Jefferies Financial Group decreased their price target on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.17.

B2Gold Stock Performance

NYSEAMERICAN:BTG opened at $5.66 on Friday. The firm has a 50 day moving average of $4.35 and a 200-day moving average of $4.68. The stock has a market capitalization of $7.48 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.40 and a beta of 0.66. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. B2Gold Corp has a 1 year low of $3.57 and a 1 year high of $6.28.

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

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.