Cormark Has Strong Estimate for B2Gold FY2024 Earnings

B2Gold Corp. (NYSE:BTG) – Investment analysts at Cormark raised their FY2024 earnings estimates for shares of B2Gold in a report released on Wednesday, January 15th. Cormark analyst R. Gray now anticipates that the company will earn $0.20 per share for the year, up from their prior forecast of $0.19. The consensus estimate for B2Gold’s current full-year earnings is $0.22 per share. Cormark also issued estimates for B2Gold’s Q4 2024 earnings at $0.05 EPS and FY2025 earnings at $0.43 EPS.

Several other analysts also recently weighed in on BTG. StockNews.com downgraded B2Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. CIBC reduced their price target on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Bank of America cut B2Gold from a “buy” rating to an “underperform” rating in a research report on Tuesday, January 14th. Cibc World Mkts cut B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group increased their price objective on B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, B2Gold currently has a consensus rating of “Hold” and an average price target of $4.02.

B2Gold Price Performance

BTG opened at $2.42 on Monday. B2Gold has a 12-month low of $2.32 and a 12-month high of $3.50. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -4.32, a price-to-earnings-growth ratio of 0.26 and a beta of 1.09. The company has a current ratio of 1.83, a quick ratio of 1.08 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $2.88.

B2Gold (NYSE:BTG) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. The business had revenue of $448.23 million during the quarter, compared to the consensus estimate of $449.28 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. B2Gold’s quarterly revenue was down 6.2% compared to the same quarter last year.

Institutional Trading of B2Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTG. Van ECK Associates Corp boosted its stake in B2Gold by 40.6% in the 3rd quarter. Van ECK Associates Corp now owns 166,079,133 shares of the company’s stock worth $566,312,000 after purchasing an additional 47,967,010 shares during the period. FMR LLC boosted its position in shares of B2Gold by 0.7% during the third quarter. FMR LLC now owns 59,489,129 shares of the company’s stock worth $183,862,000 after acquiring an additional 438,399 shares during the last quarter. Two Sigma Advisers LP increased its holdings in B2Gold by 66.9% in the 3rd quarter. Two Sigma Advisers LP now owns 17,875,880 shares of the company’s stock valued at $55,058,000 after acquiring an additional 7,165,600 shares during the last quarter. Bank of Montreal Can lifted its stake in B2Gold by 2.2% in the 2nd quarter. Bank of Montreal Can now owns 13,158,780 shares of the company’s stock worth $34,824,000 after purchasing an additional 282,070 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in B2Gold by 69.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,596,488 shares of the company’s stock worth $35,837,000 after purchasing an additional 4,754,500 shares in the last quarter. Institutional investors own 61.40% of the company’s stock.

B2Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date was Monday, December 2nd. B2Gold’s dividend payout ratio (DPR) is -28.57%.

B2Gold Company Profile

B2Gold Corp. operates as a gold producer company. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 100% interest in the Gramalote gold project in Colombia; 24% interest in the Calibre Mining Corp.; and approximately 19% interest in BeMetals Corp.