Van ECK Associates Corp Reduces Holdings in B2Gold Corp $BTG

Van ECK Associates Corp reduced its stake in shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,117,587 shares of the basic materials company’s stock after selling 4,251,647 shares during the period. Van ECK Associates Corp owned 0.07% of B2Gold worth $340,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in B2Gold during the 2nd quarter valued at $1,524,000. Public Employees Retirement System of Ohio acquired a new position in shares of B2Gold in the second quarter worth $4,728,000. Capstone Investment Advisors LLC acquired a new position in shares of B2Gold in the second quarter worth $731,000. Corient Private Wealth LP purchased a new stake in shares of B2Gold in the second quarter valued at $143,000. Finally, Bank of America Corp DE purchased a new stake in shares of B2Gold in the second quarter valued at $31,985,000. Hedge funds and other institutional investors own 61.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. ATB Cormark Capital Markets upgraded B2Gold from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce upgraded shares of B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 target price on the stock in a report on Monday, August 10th. Jefferies Financial Group decreased 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. Scotiabank raised shares of B2Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, August 10th. Finally, TD Securities raised shares of B2Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, B2Gold presently has a consensus rating of “Buy” and a consensus price target of $6.17.

B2Gold Price Performance

Shares of NYSEAMERICAN:BTG opened at $5.66 on Friday. The company has a market cap of $7.48 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.40 and a beta of 0.66. The company has a quick ratio of 0.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. B2Gold Corp has a 52 week low of $3.57 and a 52 week high of $6.28. The business has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $4.68.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its 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 net margin of 21.47% and a return on equity of 17.05%. The business had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities research analysts forecast that B2Gold Corp will post 0.49 EPS for the current 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.