The Manufacturers Life Insurance Company Takes $4.62 Million Position in B2Gold Corp $BTG

The Manufacturers Life Insurance Company bought a new position in shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,234,412 shares of the basic materials company’s stock, valued at approximately $4,621,000. The Manufacturers Life Insurance Company owned about 0.09% of B2Gold at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BTG. Pale Fire Capital SE raised its position in B2Gold by 77.4% in the 1st quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company’s stock valued at $315,923,000 after purchasing an additional 30,428,530 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in B2Gold during the 2nd quarter worth $107,805,000. Deutsche Bank AG acquired a new position in B2Gold in the second quarter valued at $63,960,000. Norges Bank acquired a new position in B2Gold in the fourth quarter valued at $75,333,000. Finally, Millennium Management LLC increased its stake in B2Gold by 248.2% in the fourth quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company’s stock valued at $105,264,000 after purchasing an additional 16,639,601 shares during the period. 61.40% of the stock is owned by institutional investors and hedge funds.

B2Gold Stock Down 3.2%

B2Gold stock opened at $5.48 on Tuesday. The stock’s 50 day moving average price is $4.38 and its 200 day moving average price is $4.67. B2Gold Corp has a 1-year low of $3.57 and a 1-year high of $6.28. The company has a market cap of $7.24 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.39 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.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Securities upgraded shares of B2Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Royal Bank Of Canada dropped their price target 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. Scotiabank raised B2Gold from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce raised 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. Finally, Jefferies Financial Group lowered their target price on B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. One investment 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 has a consensus rating of “Buy” and an average target price of $6.17.

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.