Renaissance Technologies LLC Raises Position in B2Gold Corp $BTG

Renaissance Technologies LLC raised its position in shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) by 5.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,674,658 shares of the basic materials company’s stock after acquiring an additional 140,400 shares during the quarter. Renaissance Technologies LLC’s holdings in B2Gold were worth $12,116,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of B2Gold in the 4th quarter worth approximately $45,000. DGS Capital Management LLC bought a new stake in shares of B2Gold during the first quarter valued at approximately $50,000. Ascentis Independent Advisors bought a new stake in shares of B2Gold during the first quarter valued at approximately $50,000. Parkway Wealth Management Group LLC purchased a new stake in B2Gold in the first quarter worth $51,000. Finally, Jefferies Financial Group Inc. purchased a new stake in B2Gold in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 61.40% of the company’s stock.

B2Gold Price Performance

Shares of NYSEAMERICAN BTG opened at $3.75 on Friday. The company has a 50 day simple moving average of $4.08 and a two-hundred day simple moving average of $4.66. B2Gold Corp has a fifty-two week low of $3.35 and a fifty-two week high of $6.28. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 0.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.59 and a current ratio of 1.19.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last issued its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.08. B2Gold had a return on equity of 21.36% and a net margin of 14.91%.The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $893.41 million. During the same period in the previous year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 117.7% compared to the same quarter last year. Analysts expect that B2Gold Corp will post 0.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group decreased their price objective on B2Gold from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, July 6th. Royal Bank Of Canada dropped their target price on shares of B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.50.

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.