Legal & General Group Plc Acquires New Stake in B2Gold Corp $BTG

Legal & General Group Plc acquired a new stake in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,067,390 shares of the basic materials company’s stock, valued at approximately $26,501,000. Legal & General Group Plc owned 0.53% of B2Gold as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of BTG. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of B2Gold in the second quarter valued at about $37,000. Sanctuary Advisors LLC purchased a new position in B2Gold during the second quarter worth about $41,000. GSA Capital Partners LLP acquired a new stake in B2Gold in the second quarter valued at about $43,000. DGS Capital Management LLC purchased a new stake in B2Gold in the 1st quarter valued at approximately $50,000. Finally, Ascentis Independent Advisors purchased a new stake in B2Gold in the 1st quarter valued at approximately $50,000. Hedge funds and other institutional investors own 61.40% of the company’s stock.

Analysts Set New Price Targets

BTG has been the subject of several recent analyst reports. Royal Bank Of Canada reduced their price target on B2Gold from $5.75 to $5.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. 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 reduced their price objective on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, July 6th. TD Securities raised shares of B2Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Canadian Imperial Bank of Commerce raised B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 price target on the stock in a research note on Monday, August 10th. One research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $6.17.

B2Gold Stock Down 2.9%

BTG stock opened at $5.66 on Friday. The company’s 50 day simple moving average is $4.35 and its 200-day simple moving average is $4.68. The firm 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 12 month low of $3.57 and a 12 month high of $6.28. 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 issued its quarterly earnings data 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 analyst estimates of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Equities analysts expect that B2Gold Corp will post 0.49 earnings per share for the current fiscal 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.