Cadence Wealth Management LLC Makes New Investment in B2Gold Corp $BTG

Cadence Wealth Management LLC bought a new stake in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 323,855 shares of the basic materials company’s stock, valued at approximately $1,211,000. B2Gold accounts for about 0.5% of Cadence Wealth Management LLC’s holdings, making the stock its 20th biggest holding.

Several other hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in shares of B2Gold during the 2nd quarter worth approximately $43,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of B2Gold during the 4th quarter worth approximately $45,000. DGS Capital Management LLC bought a new position in B2Gold in the first quarter valued at approximately $50,000. Ascentis Independent Advisors bought a new position in B2Gold in the first quarter valued at approximately $50,000. Finally, Parkway Wealth Management Group LLC acquired a new position in B2Gold during the first quarter valued at approximately $51,000. 61.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BTG has been the subject of several recent analyst reports. Jefferies Financial Group cut their target price on B2Gold from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Scotiabank raised B2Gold from a “sector perform” rating to a “sector outperform” rating in a report on Monday, August 10th. ATB Cormark Capital Markets upgraded B2Gold from a “hold” rating to a “moderate buy” rating in a research note on Monday, August 10th. TD Securities raised B2Gold from a “hold” rating to a “strong-buy” rating in a 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 objective for the company in a research report on Monday, August 10th. One equities 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $6.17.

B2Gold Price Performance

Shares of NYSEAMERICAN:BTG opened at $5.52 on Friday. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 0.37 and a beta of 0.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.58. The firm has a 50 day simple moving average of $4.22 and a 200 day simple moving average of $4.65. B2Gold Corp has a one year low of $3.57 and a one year high of $6.28.

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

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.