Legal & General Group Plc Invests $26.50 Million in B2Gold Corp $BTG

Legal & General Group Plc acquired a new stake in shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,067,390 shares of the basic materials company’s stock, valued at approximately $26,501,000.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in B2Gold in the 2nd quarter worth approximately $37,000. Parkway Wealth Management Group LLC acquired a new position in B2Gold during the first quarter worth approximately $51,000. Sanctuary Advisors LLC purchased a new position in B2Gold during the second quarter worth approximately $41,000. DGS Capital Management LLC acquired a new position in shares of B2Gold in the 1st quarter valued at $50,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of B2Gold during the 1st quarter valued at $50,000. Institutional investors and hedge funds own 61.40% of the company’s stock.

B2Gold Stock Down 2.9%

Shares of B2Gold stock opened at $5.66 on Friday. The business has a 50-day moving average of $4.35 and a 200-day moving average of $4.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.58. The company has a market capitalization of $7.48 billion, a PE ratio of 10.29, a P/E/G ratio of 0.39 and a beta of 0.66. B2Gold Corp has a 1-year low of $3.57 and a 1-year high of $6.28.

B2Gold (NYSEAMERICAN:BTG) (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 business had revenue of $789.35 million during the quarter, compared to analyst estimates of $836.33 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. As a group, equities analysts forecast that B2Gold Corp will post 0.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BTG shares. Royal Bank Of Canada lowered their price target on B2Gold from $5.75 to $5.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. ATB Cormark Capital Markets upgraded B2Gold from a “hold” rating to a “moderate buy” 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. Canadian Imperial Bank of Commerce upgraded shares of B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 price objective for the company in a research note on Monday, August 10th. Finally, 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 note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.17.

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.