The Manufacturers Life Insurance Company Cuts Stock Position in B2Gold Corp $BTG

The Manufacturers Life Insurance Company cut its holdings in B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) by 80.1% in the 1st quarter, HoldingsChannel reports. The fund owned 1,247,522 shares of the basic materials company’s stock after selling 5,036,227 shares during the period. The Manufacturers Life Insurance Company’s holdings in B2Gold were worth $5,663,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Themes Management Co LLC boosted its position in B2Gold by 1.2% during the 1st quarter. Themes Management Co LLC now owns 230,260 shares of the basic materials company’s stock worth $1,046,000 after acquiring an additional 2,641 shares during the period. Matrix Private Capital Group LLC acquired a new stake in shares of B2Gold in the first quarter valued at $101,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in B2Gold in the first quarter worth about $1,630,000. Renaissance Technologies LLC boosted its position in shares of B2Gold by 5.5% during the 1st quarter. Renaissance Technologies LLC now owns 2,674,658 shares of the basic materials company’s stock valued at $12,116,000 after purchasing an additional 140,400 shares in the last quarter. Finally, Pale Fire Capital SE grew its position in B2Gold by 77.4% in the first quarter. Pale Fire Capital SE now owns 69,740,133 shares of the basic materials company’s stock worth $315,923,000 after buying an additional 30,428,530 shares during the last quarter. Institutional investors and hedge funds own 61.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BTG shares. Jefferies Financial Group cut their target price on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Royal Bank Of Canada reduced their price objective on B2Gold from $5.75 to $5.00 and set a “sector perform” rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, B2Gold has a consensus rating of “Hold” and an average target price of $5.50.

B2Gold Stock Performance

NYSEAMERICAN:BTG opened at $4.10 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.59 and a current ratio of 1.19. The stock has a market capitalization of $5.42 billion, a PE ratio of 11.39, a P/E/G ratio of 0.32 and a beta of 0.66. B2Gold Corp has a fifty-two week low of $3.46 and a fifty-two week high of $6.28. The company has a fifty day moving average of $4.04 and a two-hundred day moving average of $4.65.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last announced its earnings results on Wednesday, May 6th. The basic materials company reported $0.19 earnings per share for the quarter, topping 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $893.41 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 117.7% compared to the same quarter last year. As a group, research analysts forecast that B2Gold Corp will post 0.58 earnings per share for the current fiscal year.

B2Gold Company 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.