B2Gold (TSE:BTO) Raised to Strong-Buy at Scotiabank

B2Gold (TSE:BTO) (NYSE:BTG) was upgraded by equities researchers at Scotiabank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on BTO. ATB Cormark Capital Markets upgraded shares of B2Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$6.50 to C$11.00 in a research note on Monday. Scotia upgraded B2Gold from a “sector perform” rating to a “sector outperform” rating and set a C$10.00 price target for the company in a report on Monday. TD raised B2Gold from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$6.00 to C$8.50 in a research report on Monday. Finally, National Bank Financial dropped their price objective on B2Gold from C$10.70 to C$9.75 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, B2Gold has a consensus rating of “Buy” and an average target price of C$9.33.

B2Gold Stock Performance

TSE BTO opened at C$7.04 on Monday. The company has a current ratio of 1.58, a quick ratio of 3.33 and a debt-to-equity ratio of 11.48. The firm’s fifty day moving average price is C$5.69 and its two-hundred day moving average price is C$6.43. B2Gold has a 1 year low of C$4.81 and a 1 year high of C$8.60. The firm has a market capitalization of C$9.30 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of -0.27 and a beta of 1.74.

B2Gold (TSE:BTO) (NYSE:BTG) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.04 EPS for the quarter. B2Gold had a net margin of 21.20% and a return on equity of 21.87%. The company had revenue of C$1.12 billion during the quarter. As a group, research analysts anticipate that B2Gold will post 0.5596659 EPS for the current year.

Insider Activity at B2Gold

In other news, insider Randall Chatwin sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of C$5.70, for a total value of C$125,400.00. Following the transaction, the insider owned 119,989 shares of the company’s stock, valued at approximately C$683,937.30. This represents a 15.49% decrease in their ownership of the stock. Also, Director Michael Andrew Cinnamond sold 14,089 shares of the stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of C$5.88, for a total value of C$82,843.32. Following the transaction, the director owned 315,371 shares in the company, valued at approximately C$1,854,381.48. This trade represents a 4.28% decrease in their position. Over the last quarter, insiders have sold 227,252 shares of company stock valued at $1,401,375. Insiders own 0.66% of the company’s stock.

B2Gold Company Profile

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and numerous development and exploration projects in various countries.