Stifel Canada Has Bearish Outlook for B2Gold FY2024 Earnings

B2Gold Corp. (NYSE:BTG) – Stifel Canada lowered their FY2024 earnings estimates for shares of B2Gold in a research note issued on Tuesday, February 4th. Stifel Canada analyst I. Rico now anticipates that the company will post earnings of $0.20 per share for the year, down from their prior forecast of $0.22. The consensus estimate for B2Gold’s current full-year earnings is $0.21 per share. Stifel Canada also issued estimates for B2Gold’s Q4 2024 earnings at $0.06 EPS, FY2025 earnings at $0.47 EPS and FY2026 earnings at $0.45 EPS.

BTG has been the topic of a number of other reports. CIBC lowered their target price on shares of B2Gold from $3.70 to $3.30 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. TD Securities downgraded shares of B2Gold from a “buy” rating to a “hold” rating in a report on Tuesday. StockNews.com downgraded B2Gold from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Bank of America downgraded B2Gold from a “buy” rating to an “underperform” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.02.

B2Gold Stock Performance

NYSE:BTG opened at $2.49 on Thursday. B2Gold has a twelve month low of $2.20 and a twelve month high of $3.50. The company has a quick ratio of 1.08, a current ratio of 1.83 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.28 billion, a P/E ratio of -4.45, a PEG ratio of 0.27 and a beta of 1.10. The business’s 50-day moving average price is $2.54 and its two-hundred day moving average price is $2.84.

B2Gold (NYSE:BTG) last posted its 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 positive return on equity of 7.53% and a negative net margin of 38.42%. The business had revenue of $448.23 million for the quarter, compared to analysts’ expectations of $449.28 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. B2Gold’s quarterly revenue was down 6.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its holdings in shares of B2Gold by 40.6% during the third quarter. Van ECK Associates Corp now owns 166,079,133 shares of the company’s stock valued at $566,312,000 after acquiring an additional 47,967,010 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of B2Gold by 66.9% in the 3rd quarter. Two Sigma Advisers LP now owns 17,875,880 shares of the company’s stock worth $55,058,000 after purchasing an additional 7,165,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of B2Gold by 69.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,596,488 shares of the company’s stock valued at $35,837,000 after purchasing an additional 4,754,500 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in B2Gold in the third quarter worth about $5,113,000. Finally, Invenomic Capital Management LP bought a new stake in B2Gold during the 3rd quarter valued at approximately $2,636,000. Institutional investors own 61.40% of the company’s stock.

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.