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B2Gold Corp. (AMEX: BTG): Is Its Value Too High Compared To Others?

B2Gold Corp. (AMEX:BTG) shares, rose in value on Thursday, May 25, with the stock price down by -2.74% to the previous day’s close as strong demand from buyers drove the stock to $3.72.

Actively observing the price movement in the recent trading, the stock is buoying the session at $3.83, falling within a range of $3.81 and $3.91. The value of beta (5-year monthly) is 0.96 whereas the PE ratio is 15.96 over 12-month period. Referring to stock’s 52-week performance, its high was $4.40, and the low was $2.81. On the whole, BTG has fluctuated by -6.41% over the past month.

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With the market capitalization of B2Gold Corp. currently standing at about $4.96 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 01, 2023 – Aug 07, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.06, which is expected to increase to $0.08 for fiscal year $0.31 and then to about $0.3 by fiscal year 2024. Data indicates that the EPS growth is expected to be 24.00% in 2024, while the next year’s EPS growth is forecast to be -3.20%.

Analysts have estimated the company’s revenue for the quarter at $475 million, with a low estimate of $475 million and a high estimate of $475 million. According to the average forecast, sales growth in current quarter could jump up 24.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $1.93 billion, representing an increase of 11.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BTG’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

15 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 2 analyst(s), 11 recommend it as a Buy and 2 called the BTG stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.

The stock’s technical analysis shows that the PEG ratio is about 0.80, with the price of BTG currently trading nearly -7.53% and -6.95% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 33.78, while the 7-day volatility ratio is showing 2.15% which for the 30-day chart, stands at 2.73%. Furthermore, B2Gold Corp. (BTG)’s average true range (ATR) is 0.11. The company’s stock has been forecasted to trade at an average price of $5.64 over the course of the next 52 weeks, with a low of $4.25 and a high of $7.11. Based on these price targets, the low is -14.25% off current price, whereas the price has to move -91.13% to reach the yearly target high. Additionally, analysts’ median price of $5.61 is likely to be welcomed by investors because it represents a decrease of -50.81% from the current levels.

A comparison of B2Gold Corp. (BTG) with its peers suggests the former has fared considerably weaker in the market. BTG showed an intraday change of -2.74% in today’s session so far, and over the past year, it shrunk by -11.73%%. In comparison, Hecla Mining Company (HL) has moved lower at -1.14% today and is up 10.65% over the past 12 months. On the other hand, the price of Coeur Mining Inc. (CDE) has fallen -3.99% today. The stock, however, is off -19.39% from where it was a year ago. The PE ratio stands at 15.96 for B2Gold Corp. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.67%. Meanwhile, the Dow Jones Industrial Slipped by -0.34%.

Data on historical trading for B2Gold Corp. (AMEX:BTG) indicates that the trading volumes over the past 10 days have averaged 5.51 million and over the past 3 months, they’ve averaged 9.14 million. According to company’s latest data on outstanding shares, there are 1.29 billion shares outstanding.

Nearly 0.90% of B2Gold Corp.’s shares belong to company insiders and institutional investors own 57.97% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.3 million shares as on Apr 27, 2023, resulting in a short ratio of 0.98. According to the data, the short interest in B2Gold Corp. (BTG) stood at 0.72% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 20.51 million. The stock has risen by 4.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BTG stock heading into the next quarter.

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