Cormark Comments on B2Gold’s FY2024 Earnings (NYSE:BTG)

B2Gold Corp. (NYSE:BTG) – Investment analysts at Cormark dropped their FY2024 earnings per share estimates for shares of B2Gold in a research note issued to investors on Monday, November 11th. Cormark analyst R. Gray now forecasts that the company will post earnings of $0.19 per share for the year, down from their previous forecast of $0.21. Cormark currently has a “Hold” rating on the stock. The consensus estimate for B2Gold’s current full-year earnings is $0.24 per share. Cormark also issued estimates for B2Gold’s Q4 2024 earnings at $0.04 EPS and FY2026 earnings at $0.37 EPS.

A number of other analysts have also commented on the company. StockNews.com lowered B2Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. CIBC lifted their price target on shares of B2Gold from $3.30 to $3.60 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Jefferies Financial Group boosted their price objective on shares of B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and set a $3.75 target price on shares of B2Gold in a research report on Tuesday, September 17th. Finally, Scotiabank downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.12.

B2Gold Stock Performance

B2Gold stock opened at $2.68 on Wednesday. B2Gold has a fifty-two week low of $2.34 and a fifty-two week high of $3.50. The stock has a market capitalization of $3.52 billion, a P/E ratio of -4.79, a price-to-earnings-growth ratio of 2.32 and a beta of 1.13. The business’s fifty day moving average is $3.16. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07.

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

Institutional Investors Weigh In On B2Gold

A number of institutional investors have recently added to or reduced their stakes in BTG. BNP Paribas Financial Markets lifted its stake in shares of B2Gold by 62.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 95,482 shares of the company’s stock valued at $294,000 after purchasing an additional 36,555 shares in the last quarter. FMR LLC lifted its position in B2Gold by 0.7% during the third quarter. FMR LLC now owns 59,489,129 shares of the company’s stock valued at $183,862,000 after buying an additional 438,399 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in B2Gold by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 7,701,328 shares of the company’s stock valued at $23,819,000 after buying an additional 251,045 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in B2Gold by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,957,155 shares of the company’s stock worth $12,243,000 after buying an additional 143,663 shares during the period. Finally, Moors & Cabot Inc. increased its position in shares of B2Gold by 35.0% in the third quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock worth $42,000 after acquiring an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 61.40% of the company’s stock.

B2Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.16 annualized dividend and a dividend yield of 5.97%. B2Gold’s dividend payout ratio is presently -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.