Renaissance Technologies LLC Buys 140,400 Shares of B2Gold Corp $BTG

Renaissance Technologies LLC grew its stake in shares of B2Gold Corp (NYSEAMERICAN:BTG) (TSE:BTO) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,674,658 shares of the basic materials company’s stock after purchasing an additional 140,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of B2Gold worth $12,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Pale Fire Capital SE increased its stake in shares of 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 period. Norges Bank purchased a new stake in B2Gold during the 4th quarter valued at $75,333,000. Millennium Management LLC boosted its position in B2Gold by 248.2% during the 4th quarter. Millennium Management LLC now owns 23,342,850 shares of the basic materials company’s stock valued at $105,264,000 after buying an additional 16,639,601 shares during the period. Condire Management LP bought a new stake in B2Gold in the 4th quarter worth $50,807,000. Finally, Marshall Wace LLP grew 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 acquiring an additional 7,857,774 shares during the last quarter. Institutional investors own 61.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BTG. Jefferies Financial Group lowered their price objective on shares of B2Gold from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada cut their target price on B2Gold from $5.75 to $5.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.50.

B2Gold Price Performance

Shares of B2Gold stock opened at $3.75 on Friday. The business has a 50 day moving average of $4.08 and a 200 day moving average of $4.66. B2Gold Corp has a 52 week low of $3.35 and a 52 week high of $6.28. The company has a market cap of $4.95 billion, a PE ratio of 10.42, a P/E/G ratio of 0.31 and a beta of 0.66. The company has a quick ratio of 0.59, a current ratio of 1.19 and a debt-to-equity ratio of 0.13.

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.08. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $893.41 million. B2Gold had a net margin of 14.91% and a return on equity of 21.36%. The firm’s revenue for the quarter was up 117.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, equities research analysts forecast that B2Gold Corp will post 0.58 earnings per share for the current 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.