Hexavest Inc. cut its position in B2Gold Corp. (NYSEAMERICAN:BTG) (TSE:BTO) by 32.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,405 shares of the basic materials company’s stock after selling 70,167 shares during the quarter. Hexavest Inc.’s holdings in B2Gold were worth $967,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BTG. Vanguard Group Inc. raised its stake in shares of B2Gold by 0.6% during the second quarter. Vanguard Group Inc. now owns 29,986,003 shares of the basic materials company’s stock worth $170,620,000 after purchasing an additional 186,478 shares during the last quarter. Invesco Ltd. increased its stake in B2Gold by 13.6% in the 1st quarter. Invesco Ltd. now owns 16,936,421 shares of the basic materials company’s stock valued at $51,824,000 after buying an additional 2,026,306 shares during the period. Man Group plc increased its stake in B2Gold by 8.2% in the 2nd quarter. Man Group plc now owns 11,598,388 shares of the basic materials company’s stock valued at $65,755,000 after buying an additional 883,182 shares during the period. Bank of America Corp DE increased its stake in B2Gold by 68.7% in the 2nd quarter. Bank of America Corp DE now owns 6,998,292 shares of the basic materials company’s stock valued at $39,820,000 after buying an additional 2,850,054 shares during the period. Finally, Schroder Investment Management Group increased its stake in B2Gold by 36.9% in the 1st quarter. Schroder Investment Management Group now owns 5,903,292 shares of the basic materials company’s stock valued at $31,347,000 after buying an additional 1,591,998 shares during the period.
Several brokerages have issued reports on BTG. TD Securities boosted their price objective on shares of B2Gold from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, August 7th. Royal Bank of Canada cut shares of B2Gold from an “outperform” rating to a “sector perform” rating and set a $8.00 price objective on the stock. in a research note on Wednesday, August 19th. Canaccord Genuity reissued a “buy” rating and issued a $11.50 price objective on shares of B2Gold in a research note on Tuesday, September 1st. Pi Financial restated a “buy” rating and set a $8.60 target price on shares of B2Gold in a research report on Monday, July 13th. Finally, Scotiabank boosted their target price on shares of B2Gold from $9.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $8.65.
B2Gold stock opened at $7.05 on Thursday. B2Gold Corp. has a 52 week low of $2.16 and a 52 week high of $7.55.
B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) last released its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $441.94 million for the quarter.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, September 21st. This is a positive change from B2Gold’s previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a dividend yield of 2.27%.
B2Gold Corp. operates as a gold producer with three operating mines in Mali, the Philippines, and Namibia. It operates the Fekola Mine in Mali, the Masbate Mine in the Philippines, and the Otjikoto Mine in Namibia. The company also has an 81% interest in the Kiaka Project in Burkina Faso. In addition, it has a portfolio of other evaluation and exploration assets in Mali, Burkina Faso, Namibia, Uzbekistan, and Finland.
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