B2Gold (NYSEAMERICAN:BTG) Shares Up 16.3% After Better-Than-Expected Earnings

B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO)’s stock price rose 16.3% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $5.28 and last traded at $5.21. Approximately 14,922,562 shares changed hands during trading, a decline of 60% from the average daily volume of 37,337,367 shares. The stock had previously closed at $4.48.

The basic materials company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.11 by $0.08. B2Gold had a return on equity of 18.12% and a net margin of 13.13%.The business’s revenue for the quarter was up 117.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS.

Analyst Ratings Changes

BTG has been the topic of several analyst reports. Scotiabank reiterated a “sector perform” rating on shares of B2Gold in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of B2Gold in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BTG. Norges Bank purchased a new position in shares of B2Gold during the 4th quarter worth approximately $75,333,000. Millennium Management LLC grew its holdings in shares of B2Gold by 248.2% during the 4th quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company’s stock worth $105,264,000 after acquiring an additional 16,639,601 shares during the period. Condire Management LP purchased a new position in shares of B2Gold during the 4th quarter worth approximately $50,807,000. Marshall Wace LLP grew its holdings in shares of B2Gold by 1,124.3% during the 4th quarter. Marshall Wace LLP now owns 8,556,658 shares of the basic materials company’s stock worth $38,591,000 after acquiring an additional 7,857,774 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of B2Gold during the 4th quarter worth approximately $32,899,000. Hedge funds and other institutional investors own 61.40% of the company’s stock.

B2Gold Price Performance

The business has a fifty day simple moving average of $4.88 and a two-hundred day simple moving average of $4.78. The company has a current ratio of 1.06, a quick ratio of 0.47 and a debt-to-equity ratio of 0.16. The stock has a market cap of $6.98 billion, a PE ratio of 20.12, a P/E/G ratio of 0.41 and a beta of 0.60.

About B2Gold

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.