Cormark Has Negative Outlook of B2Gold FY2024 Earnings

B2Gold Corp. (NYSE:BTG) – Analysts at Cormark lowered their FY2024 EPS estimates for shares of B2Gold in a research note issued on Monday, November 11th. Cormark analyst R. Gray now expects that the company will earn $0.19 per share for the year, down from their prior estimate 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.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.75 price objective on shares of B2Gold in a research note on Tuesday, September 17th. CIBC raised their price target on B2Gold from $3.30 to $3.60 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Jefferies Financial Group upped their price target on shares of B2Gold from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. StockNews.com lowered B2Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Scotiabank cut B2Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, B2Gold presently has a consensus rating of “Hold” and a consensus price target of $4.12.

B2Gold Price Performance

B2Gold stock opened at $2.70 on Wednesday. The stock’s 50 day moving average is $3.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.08. The company has a market cap of $3.54 billion, a P/E ratio of -4.89, a PEG ratio of 2.32 and a beta of 1.13. B2Gold has a one year low of $2.34 and a one year high of $3.50.

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

Hedge Funds Weigh In On B2Gold

A number of hedge funds and other institutional investors have recently made changes to their positions in BTG. E&G Advisors LP bought a new stake in shares of B2Gold in the 3rd quarter valued at $31,000. Private Advisor Group LLC acquired a new stake in shares of B2Gold during the third quarter worth about $33,000. Flow Traders U.S. LLC acquired a new stake in shares of B2Gold during the third quarter worth about $35,000. Continuum Advisory LLC bought a new position in shares of B2Gold during the 2nd quarter valued at about $40,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of B2Gold in the 2nd quarter valued at approximately $42,000. 61.40% of the stock is owned by institutional investors.

B2Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Monday, December 2nd. B2Gold’s payout ratio is presently -28.57%.

About B2Gold

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.