Cormark Has Positive Outlook of B2Gold FY2024 Earnings

B2Gold Corp. (NYSE:BTGFree Report) – Analysts at Cormark increased their FY2024 EPS estimates for shares of B2Gold in a report issued on Wednesday, January 15th. Cormark analyst R. Gray now anticipates that the company will post earnings of $0.20 per share for the year, up from their previous estimate of $0.19. The consensus estimate for B2Gold’s current full-year earnings is $0.23 per share. Cormark also issued estimates for B2Gold’s Q4 2024 earnings at $0.05 EPS and FY2025 earnings at $0.43 EPS.

B2Gold (NYSE:BTGGet Free Report) last posted its quarterly earnings results 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 negative net margin of 38.42% and a positive return on equity of 7.53%. The company 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 earned $0.05 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year.

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

Read Our Latest Stock Report on B2Gold

B2Gold Price Performance

Shares of BTG opened at $2.39 on Monday. 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 company’s fifty day simple moving average is $2.63 and its 200 day simple moving average is $2.88. B2Gold has a 1-year low of $2.32 and a 1-year high of $3.50. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -4.27, a PEG ratio of 0.26 and a beta of 1.09.

B2Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.16 annualized dividend and a dividend yield of 6.69%. B2Gold’s dividend payout ratio is presently -28.57%.

Hedge Funds Weigh In On B2Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. E&G Advisors LP bought a new position in B2Gold in the third quarter valued at approximately $31,000. Private Advisor Group LLC bought a new position in shares of B2Gold in the 3rd quarter valued at $33,000. Flow Traders U.S. LLC bought a new position in shares of B2Gold in the 3rd quarter valued at $35,000. HighTower Advisors LLC bought a new stake in shares of B2Gold during the 3rd quarter worth $36,000. Finally, Blue Trust Inc. lifted its position in shares of B2Gold by 72.1% during the 3rd quarter. Blue Trust Inc. now owns 13,755 shares of the company’s stock worth $42,000 after buying an additional 5,764 shares during the last quarter. 61.40% of the stock is owned by institutional investors and hedge funds.

About B2Gold

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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.

Further Reading

Earnings History and Estimates for B2Gold (NYSE:BTG)

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