Raymond James Financial Issues Positive Forecast for B2Gold (NYSEAMERICAN:BTG) Stock Price

by · The Markets Daily

B2Gold (NYSEAMERICAN:BTG – Get Free Report) (TSE:BTO) had its price objective lifted by equities research analysts at Raymond James Financial from $7.25 to $7.50 in a note issued to investors on Friday, BayStreet reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. Raymond James Financial’s target price points to a potential upside of 33.93% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Scotiabank upgraded shares of B2Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, August 10th. Jefferies Financial Group dropped their price target on B2Gold from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, July 6th. ATB Cormark Capital Markets upgraded shares of B2Gold from a “hold” rating to a “moderate buy” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce raised shares of 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. Finally, Royal Bank Of Canada lowered their target price on B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.50.

Check Out Our Latest Analysis on B2Gold

B2Gold Price Performance

NYSEAMERICAN:BTG traded down $0.09 during trading hours on Friday, hitting $5.60. 16,545,934 shares of the stock were exchanged, compared to its average volume of 31,461,441. The firm’s fifty day moving average price is $4.47 and its 200 day moving average price is $4.67. B2Gold has a 52-week low of $3.57 and a 52-week high of $6.28. The company has a market cap of $7.40 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.37 and a beta of 0.73. 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 (NYSEAMERICAN:BTG – Get Free Report) (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 17.05% and a net margin of 21.47%.The firm had revenue of $789.35 million for the quarter, compared to analyst estimates of $836.33 million. During the same period last year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts anticipate that B2Gold will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Deutsche Bank AG acquired a new stake in B2Gold in the second quarter worth about $63,960,000. Alberta Investment Management Corp bought a new stake in B2Gold during the 2nd quarter worth about $1,346,000. Persistent Asset Partners Ltd acquired a new stake in shares of B2Gold in the second quarter valued at about $781,000. Easterly Investment Partners LLC raised its position 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 in the last quarter. Finally, Bank of Nova Scotia grew its holdings in B2Gold by 56.6% during 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 purchasing an additional 544,934 shares during the period. 61.40% of the stock is currently owned by institutional investors and hedge funds.

B2Gold Company Profile

(Get Free Report)

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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