Cormark Has Bearish Forecast for B2Gold FY2024 Earnings

B2Gold Corp. (TSE:BTO) (NYSE:BTG) – Investment analysts at Cormark lowered their FY2024 earnings per share estimates for B2Gold in a note issued to investors on Monday, November 11th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.26 for the year, down from their prior forecast of $0.29. The consensus estimate for B2Gold’s current full-year earnings is $0.56 per share. Cormark also issued estimates for B2Gold’s Q4 2024 earnings at $0.06 EPS and FY2026 earnings at $0.51 EPS.

A number of other brokerages have also commented on BTO. Scotiabank lowered shares of B2Gold from an “outperform” rating to a “sector perform” rating in a report on Friday, August 9th. CIBC set a C$3.30 price target on B2Gold and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Canaccord Genuity Group reduced their price objective on B2Gold from C$7.50 to C$7.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. BMO Capital Markets dropped their target price on B2Gold from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Stifel Nicolaus upped their price target on B2Gold from C$6.00 to C$6.50 in a research report on Monday, October 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$5.66.

B2Gold Stock Performance

Shares of BTO stock opened at C$3.85 on Wednesday. The company has a market capitalization of C$5.04 billion, a P/E ratio of -22.47, a price-to-earnings-growth ratio of -0.27 and a beta of 1.23. B2Gold has a 52 week low of C$3.18 and a 52 week high of C$4.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.33 and a current ratio of 2.93. The company’s 50 day moving average price is C$4.29 and its two-hundred day moving average price is C$3.95.

B2Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.054 per share. This represents a $0.22 annualized dividend and a dividend yield of 5.61%. The ex-dividend date is Monday, December 2nd. B2Gold’s dividend payout ratio (DPR) is -129.41%.

Insider Transactions at B2Gold

In related news, Senior Officer Randall Chatwin sold 10,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$4.53, for a total value of C$45,300.00. In other B2Gold news, Senior Officer Ninette Krohnert sold 16,175 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of C$4.11, for a total value of C$66,479.25. Also, Senior Officer Randall Chatwin sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$4.53, for a total value of C$45,300.00. Insiders have sold a total of 87,449 shares of company stock worth $384,111 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

B2Gold Company Profile

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.