B2Gold (BTG) Raised to “Buy” at Zacks Investment Research

B2Gold (NYSEAMERICAN:BTG) (TSE:BTO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $3.25 price objective on the basic materials company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 13.64% from the stock’s current price.

According to Zacks, “B2Gold Corp. is involved in the exploration and development of gold. The company’s assets are situated in Nicaragua, Colombia, Namibia and Uruguay. B2Gold Corp. is headquartered in Vancouver, Canada. “

B2Gold (NYSEAMERICAN:BTG) traded down $0.03 during trading hours on Wednesday, hitting $2.86. 4,725,931 shares of the stock traded hands, compared to its average volume of 5,010,671. B2Gold has a 12-month low of $2.15 and a 12-month high of $3.30. The stock has a market cap of $2,840.00, a PE ratio of 71.50 and a beta of 0.79.

A number of hedge funds and other institutional investors have recently modified their holdings of BTG. Point View Wealth Management Inc. purchased a new position in B2Gold during the 4th quarter valued at about $100,000. Quantitative Systematic Strategies LLC purchased a new position in B2Gold during the 4th quarter valued at about $117,000. Alliancebernstein L.P. purchased a new position in B2Gold during the 2nd quarter valued at about $124,000. Virtu Financial LLC lifted its position in B2Gold by 201.6% during the 3rd quarter. Virtu Financial LLC now owns 129,105 shares of the basic materials company’s stock valued at $177,000 after acquiring an additional 86,302 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in B2Gold during the 4th quarter valued at about $396,000.

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About B2Gold

B2Gold Corp. (B2Gold) is a Canada-based gold producer with approximately four operating mines and one mine under construction. The Company has a portfolio of other evaluation and exploration projects in various countries, including Mali, Colombia, Burkina Faso, Finland, Chile and Nicaragua. Its material mineral properties consist of three mines and one mine under construction: Otjikoto mine, an open pit gold mine located approximately 300 kilometers north of Windhoek, the capital of Namibia (Otjikoto Mine); Masbate mine, an open pit gold mine, located near the northern tip of the island of Masbate, over 360 kilometers south-east of Manila (Masbate Gold Project); La Libertad mine, an open pit gold mine located over 110 kilometers due east of Managua and 32 kilometers northeast of Juigalpa, Nicaragua (La Libertad Mine), and Fekola gold project, an open pit gold mine under construction located approximately 40 kilometers south of the city of Kenieba, Mali (Fekola Project).

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