Market Analysts see B2Gold Corp. [BTG] gaining to $5. Time to buy?

B2Gold Corp. [AMEX: BTG] traded at a high on 11/11/22, posting a 1.42 gain after which it closed the day’ session at $3.58. The company report on November 1, 2022 that B2Gold Reports Q3 2022 Results; Full-Year 2022 Total Consolidated Gold Production and Cost Guidance Remains Unchanged; Year-to-Date Operating Costs and All-In Sustaining Costs In Line with Budget despite Lower than Expected Gold Production.

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B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (“B2Gold” or the “Company”) announces its operational and financial results for the third quarter of 2022. The Company previously released its gold production and gold revenue results for the third quarter of 2022. All dollar figures are in United States dollars unless otherwise indicated.

The results of the trading session contributed to over 14204669 shares changing hands. Over the past one week, the price volatility of B2Gold Corp. stands at 4.40% while the volatility over the past one month is 4.23%.

The market cap for BTG stock reached $3.78 billion, with 1.06 billion shares outstanding and 1.05 billion shares in the current float. Compared to the average trading volume of 10.38M shares, BTG reached a trading volume of 14204669 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about B2Gold Corp. [BTG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BTG shares is $4.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BTG stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for B2Gold Corp. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on December 10, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price to Neutral. The new note on the price target was released on February 10, 2021, representing the official price target for B2Gold Corp. stock.

The Average True Range (ATR) for B2Gold Corp. is set at 0.16, with the Price to Sales ratio for BTG stock in the period of the last 12 months amounting to 2.12. The Price to Book ratio for the last quarter was 1.46.

How has BTG stock performed recently?

B2Gold Corp. [BTG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.29. With this latest performance, BTG shares gained by 17.38% in over the last four-week period, additionally sinking by -10.05% over the last 6 months – not to mention a drop of -23.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BTG stock in for the last two-week period is set at 65.04, with the RSI for the last a single of trading hit 70.76, and the three-weeks RSI is set at 60.89 for B2Gold Corp. [BTG]. The present Moving Average for the last 50 days of trading for this stock 3.19, while it was recorded at 3.39 for the last single week of trading, and 3.74 for the last 200 days.

B2Gold Corp. [BTG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and B2Gold Corp. [BTG] shares currently have an operating margin of +39.31 and a Gross Margin at +43.61. B2Gold Corp.’s Net Margin is presently recorded at +23.84.

Return on Equity for this stock inclined to 15.29, with Return on Assets sitting at 11.99.

Earnings analysis for B2Gold Corp. [BTG]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BTG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for B2Gold Corp. go to 20.00%.

Insider trade positions for B2Gold Corp. [BTG]

There are presently around $2,040 million, or 66.89% of BTG stock, in the hands of institutional investors. The top three institutional holders of BTG stocks are: VAN ECK ASSOCIATES CORP with ownership of 109,450,322, which is approximately -2.396% of the company’s market cap and around 1.10% of the total institutional ownership; FMR LLC, holding 88,041,976 shares of the stock with an approximate value of $315.19 million in BTG stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $129.99 million in BTG stock with ownership of nearly 13.222% of the company’s market capitalization.

Positions in B2Gold Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 101 institutional holders increased their position in B2Gold Corp. [AMEX:BTG] by around 42,116,428 shares. Additionally, 91 investors decreased positions by around 25,469,566 shares, while 43 investors held positions by with 502,107,057 shares. The mentioned changes placed institutional holdings at 569,693,051 shares, according to the latest SEC report filing. BTG stock had 27 new institutional investments in for a total of 3,020,459 shares, while 27 institutional investors sold positions of 5,789,362 shares during the same period.


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