Cibc World Market Inc. Acquires New Shares in B2Gold Corp $BTG

Cibc World Market Inc. acquired a new position in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,589,399 shares of the basic materials company’s stock, valued at approximately $9,705,000. Cibc World Market Inc. owned approximately 0.20% of B2Gold as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Intact Investment Management Inc. raised its holdings in shares of B2Gold by 5,130.6% during the fourth quarter. Intact Investment Management Inc. now owns 1,642,400 shares of the basic materials company’s stock valued at $7,395,000 after purchasing an additional 1,611,000 shares during the last quarter. Deutsche Bank AG bought a new stake in B2Gold in the 2nd quarter worth approximately $63,960,000. Alberta Investment Management Corp bought a new stake in B2Gold in the 2nd quarter worth approximately $1,346,000. Persistent Asset Partners Ltd purchased a new stake in B2Gold during the 2nd quarter valued at $781,000. Finally, Easterly Investment Partners LLC raised its stake in B2Gold by 3.9% during the 4th quarter. Easterly Investment Partners LLC now owns 2,934,687 shares of the basic materials company’s stock valued at $13,235,000 after buying an additional 109,076 shares during the last quarter. Hedge funds and other institutional investors own 61.40% of the company’s stock.

B2Gold Price Performance

Shares of B2Gold stock opened at $5.72 on Tuesday. B2Gold Corp has a one year low of $3.57 and a one year high of $6.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.58 and a current ratio of 1.58. The stock has a market cap of $7.56 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.38 and a beta of 0.66. The stock’s fifty day moving average is $4.24 and its 200 day moving average is $4.65.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its quarterly earnings results on Thursday, August 6th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The business had revenue of $789.35 million during the quarter, compared to analysts’ expectations of $836.33 million. B2Gold had a return on equity of 17.05% and a net margin of 21.47%.The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. Sell-side analysts anticipate that B2Gold Corp will post 0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

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