3,946,100 Shares in B2Gold Corp $BTG Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,946,100 shares of the basic materials company’s stock, valued at approximately $14,787,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BTG. 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 worth $7,395,000 after acquiring an additional 1,611,000 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of B2Gold during the 2nd quarter valued at approximately $63,960,000. Alberta Investment Management Corp acquired a new position in B2Gold during the 2nd quarter worth approximately $1,346,000. Persistent Asset Partners Ltd acquired a new position in B2Gold during the 2nd quarter worth approximately $781,000. Finally, Easterly Investment Partners LLC lifted its stake in B2Gold by 3.9% in the 4th quarter. Easterly Investment Partners LLC now owns 2,934,687 shares of the basic materials company’s stock valued at $13,235,000 after purchasing an additional 109,076 shares during the last quarter. 61.40% of the stock is owned by hedge funds and other institutional investors.

B2Gold Stock Performance

Shares of B2Gold stock opened at $5.66 on Friday. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 0.40 and a beta of 0.66. B2Gold Corp has a twelve month low of $3.57 and a twelve month high of $6.28. The company’s fifty day moving average is $4.35 and its 200 day moving average is $4.68. 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 (NYSEAMERICAN:BTG) (TSE:BTO) last announced its 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 company had revenue of $789.35 million for the quarter, compared to the consensus estimate of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 earnings per share. Sell-side analysts forecast that B2Gold Corp will post 0.49 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on BTG. ATB Cormark Capital Markets upgraded shares of B2Gold from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 10th. Canadian Imperial Bank of Commerce upgraded B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 price target for the company in a research note on Monday, August 10th. Scotiabank upgraded B2Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, August 10th. TD Securities raised B2Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada cut their price target on B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, B2Gold presently has a consensus rating of “Buy” and a consensus target price of $6.17.

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.