Cibc World Market Inc. Invests $9.71 Million in B2Gold Corp $BTG

Cibc World Market Inc. acquired a new stake in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,589,399 shares of the basic materials company’s stock, valued at approximately $9,705,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of B2Gold in the second quarter valued at approximately $37,000. Sanctuary Advisors LLC purchased a new position in B2Gold during the 2nd quarter worth $41,000. GSA Capital Partners LLP purchased a new position in B2Gold during the 2nd quarter worth $43,000. DGS Capital Management LLC bought a new stake in B2Gold during the 1st quarter valued at $50,000. Finally, Ascentis Independent Advisors bought a new stake in B2Gold during the 1st quarter valued at $50,000. Institutional investors own 61.40% of the company’s stock.

B2Gold Trading Up 3.6%

Shares of NYSEAMERICAN BTG opened at $5.72 on Tuesday. B2Gold Corp has a 1-year low of $3.57 and a 1-year high of $6.28. The business has a fifty day moving average price of $4.24 and a 200 day moving average price of $4.65. The stock has a market capitalization of $7.56 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.38 and a beta of 0.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.58.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last announced its earnings results on Thursday, August 6th. The basic materials company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $789.35 million during 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 business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Equities research analysts expect that B2Gold Corp will post 0.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BTG. Royal Bank Of Canada dropped their price target on B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Canadian Imperial Bank of Commerce upgraded B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Monday, August 10th. ATB Cormark Capital Markets raised shares of B2Gold from a “hold” rating to a “moderate buy” rating in a research note on Monday, August 10th. Jefferies Financial Group cut their target price on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, Scotiabank raised shares of B2Gold from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock 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.