Bank of Nova Scotia Makes New Investment in B2Gold Corp $BTG

Bank of Nova Scotia bought a new stake in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 610,853 shares of the basic materials company’s stock, valued at approximately $2,291,000.

A number of other institutional investors have also made changes to their positions in the business. Pale Fire Capital SE lifted its position in B2Gold by 77.4% during the 1st quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company’s stock worth $315,923,000 after buying an additional 30,428,530 shares in the last quarter. Vanguard Group Inc. increased its position in B2Gold by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 56,023,406 shares of the basic materials company’s stock valued at $252,273,000 after acquiring an additional 1,018,157 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of B2Gold by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 33,477,302 shares of the basic materials company’s stock worth $151,630,000 after acquiring an additional 1,315,923 shares during the last quarter. Millennium Management LLC raised its stake in shares of B2Gold by 248.2% in the fourth 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 last quarter. Finally, Deutsche Bank AG acquired a new position in shares of B2Gold during the second quarter worth approximately $63,960,000. 61.40% of the stock is owned by institutional investors.

B2Gold Stock Performance

B2Gold stock opened at $5.74 on Thursday. The company has a market cap of $7.58 billion, a PE ratio of 10.44, a PEG ratio of 0.40 and a beta of 0.66. The company has a current ratio of 1.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.11. B2Gold Corp has a 1 year low of $3.57 and a 1 year high of $6.28. The company’s 50-day moving average is $4.29 and its two-hundred day moving average is $4.66.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued 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). The business 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 firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. Equities analysts anticipate that B2Gold Corp will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

BTG has been the topic of several research analyst reports. 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. TD Securities upgraded shares of B2Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Jefferies Financial Group reduced their price objective on B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Royal Bank Of Canada decreased their price objective on B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce raised B2Gold from a “hold” rating to an “outperform” rating and set a $7.50 target price for the company in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, B2Gold 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.