Cormark Comments on B2Gold Corp.’s Q3 2019 Earnings (TSE:BTO)
B2Gold Corp. (TSE:BTO) (NYSE:BTG) – Equities researchers at Cormark lifted their Q3 2019 earnings per share estimates for shares of B2Gold in a note issued to investors on Thursday, August 8th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.09 for the quarter, up from their previous forecast of $0.07. Cormark also issued estimates for B2Gold’s Q4 2019 earnings at $0.09 EPS, FY2019 earnings at $0.32 EPS, Q1 2020 earnings at $0.15 EPS, Q2 2020 earnings at $0.15 EPS, Q3 2020 earnings at $0.15 EPS and Q4 2020 earnings at $0.15 EPS.
Several other research firms have also recently weighed in on BTO. BMO Capital Markets boosted their price target on B2Gold from C$5.50 to C$6.00 in a report on Thursday, August 8th. Raymond James restated an “outperform” rating and set a C$4.50 price target on shares of B2Gold in a report on Wednesday, July 3rd. Canaccord Genuity boosted their price target on B2Gold from C$6.25 to C$6.50 in a report on Friday, July 19th. Eight Capital boosted their price target on B2Gold from C$5.15 to C$6.50 in a report on Thursday, August 8th. Finally, National Bank Financial upped their target price on B2Gold from C$6.75 to C$7.00 and gave the company an “outperform” rating in a report on Friday, June 28th. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of C$5.83.
In related news, Director Robert Gayton sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of C$3.98, for a total value of C$159,200.00. Following the sale, the director now directly owns 279,000 shares in the company, valued at C$1,110,420. Also, Senior Officer Hugh Mackinnon sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of C$4.03, for a total value of C$60,450.00. Following the completion of the sale, the insider now owns 322,654 shares in the company, valued at C$1,300,295.62. Insiders sold 159,449 shares of company stock worth $723,707 over the last quarter.
B2Gold Corp., together with its subsidiaries, engages in the exploration and development of mineral properties for gold deposits in Nicaragua, the Philippines, Mali, Colombia, Burkina Faso, and Namibia. The company primarily holds 80% interest in the Fekola mine, an open pit gold mine located in Mali; 90% interest in the Otjikoto gold mine located north of Windhoek, Namibia; the Masbate gold project located in the south-east of Manila, the Philippines; and 100% interest in the El Limon mine, an underground gold mine located in northwestern Nicaragua.
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