Cormark Has Bearish Forecast for B2Gold FY2024 Earnings

B2Gold Corp. (NYSE:BTG) – Equities research analysts at Cormark decreased their FY2024 EPS estimates for shares of B2Gold in a research note issued on Monday, November 11th. Cormark analyst R. Gray now forecasts that the company will post earnings per share of $0.19 for the year, down from their prior forecast 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.

B2Gold (NYSE:BTG) last announced 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). The firm had revenue of $448.23 million for the quarter, compared to the consensus estimate of $449.28 million. B2Gold had a positive return on equity of 7.53% and a negative net margin of 38.42%. B2Gold’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS.

A number of other equities research analysts also recently commented on BTG. Cibc World Mkts downgraded B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. StockNews.com downgraded B2Gold from a “buy” rating to a “hold” rating in a report on Friday, November 8th. CIBC raised their target price on shares of B2Gold from $3.30 to $3.60 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Jefferies Financial Group boosted their price target on shares of B2Gold from $4.00 to $5.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Scotiabank cut shares of B2Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.12.

B2Gold Price Performance

Shares of BTG opened at $2.70 on Wednesday. B2Gold has a 12-month low of $2.34 and a 12-month high of $3.50. The firm has a market cap of $3.54 billion, a PE ratio of -4.89, a P/E/G ratio of 2.32 and a beta of 1.13. The stock has a 50 day simple moving average of $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.

B2Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.16 annualized dividend and a dividend yield of 5.94%. B2Gold’s payout ratio is -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 business. Point72 DIFC Ltd lifted its stake in shares of B2Gold by 16.6% in the 2nd quarter. Point72 DIFC Ltd now owns 21,471 shares of the company’s stock valued at $58,000 after purchasing an additional 3,053 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in shares of B2Gold by 35.0% during the 3rd quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock worth $42,000 after buying an additional 3,500 shares during the period. Creative Planning grew its stake in B2Gold by 6.2% in the 3rd quarter. Creative Planning now owns 82,324 shares of the company’s stock valued at $254,000 after buying an additional 4,810 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in B2Gold by 24.7% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 26,513 shares of the company’s stock worth $82,000 after acquiring an additional 5,257 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of B2Gold by 72.1% in the third quarter. Blue Trust Inc. now owns 13,755 shares of the company’s stock valued at $42,000 after acquiring an additional 5,764 shares during the period. 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.