Pale Fire Capital SE Has $315.92 Million Holdings in B2Gold Corp $BTG

Pale Fire Capital SE grew its holdings in shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) by 77.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,740,133 shares of the basic materials company’s stock after purchasing an additional 30,428,530 shares during the quarter. B2Gold makes up approximately 26.9% of Pale Fire Capital SE’s holdings, making the stock its biggest position. Pale Fire Capital SE owned about 5.23% of B2Gold worth $315,923,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of B2Gold during the 4th quarter worth $75,333,000. Millennium Management LLC increased its stake in shares of B2Gold by 248.2% in the 4th quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company’s stock worth $105,264,000 after purchasing an additional 16,639,601 shares in the last quarter. Condire Management LP bought a new position in B2Gold in the 4th quarter worth $50,807,000. Marshall Wace LLP raised its holdings in B2Gold by 1,124.3% in the 4th quarter. Marshall Wace LLP now owns 8,556,658 shares of the basic materials company’s stock worth $38,591,000 after purchasing an additional 7,857,774 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in B2Gold during the fourth quarter valued at $32,899,000. 61.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on BTG. Royal Bank Of Canada cut their price target on B2Gold from $5.75 to $5.00 and set a “sector perform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group decreased their price objective 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 analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.50.

B2Gold Stock Performance

BTG opened at $3.87 on Friday. The company has a 50 day simple moving average of $4.17 and a two-hundred day simple moving average of $4.69. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.19 and a quick ratio of 0.59. The firm has a market cap of $5.11 billion, a P/E ratio of 10.75, a PEG ratio of 0.31 and a beta of 0.66. B2Gold Corp has a 1-year low of $3.31 and a 1-year high of $6.28.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. B2Gold had a net margin of 14.91% and a return on equity of 21.36%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $893.41 million. During the same period last year, the firm earned $0.09 EPS. The company’s revenue was up 117.7% on a year-over-year basis. Equities analysts forecast that B2Gold Corp will post 0.58 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.